WARNING: EBay Shipping Insurance

[MorganMan]

I found out today that if you use E-bay to ship a coin and select the insurance option to ship USPS, it is NOT USPS Insurance!

 

And guess what....The insurance terms does NOT cover coins or bullion.....

 

 

Just a warning.

 

EDIT: After speaking with E-Bay support, they gave me a credit for the insurance and said they would make sure that they informed folks that coins were NOT covered with their ShipCover Insurance. We will see if that actually happens.

 

Meanwhile, I have a rather expensive coin in transit uninsured!

 

I had said before I would never use E-Bay again, wish now I had took my own advice!

 

MM

[coinman_23885]

When did you ship the package?

 

If you have shipped the package less than 24 hours ago or so, try shipsurance.com. You can use the tracking number to purchase insurance after mailing.

[MorganMan]

Here are ShipCover's "Exclusions". Looks like they want to screw you with the fine print.

 

 

 

II. THE INSURANCE DOES NOT INSURE:

Coins, bullion, loose diamonds or stones, stocks, bonds, currency, deeds, evidences of debt, travelers checks, money orders, gift certificates, calling cards, lottery tickets, admission tickets, or any other negotiable documents.

Loss from delay, deterioration, spoilage or contamination of perishable merchandise except when resulting from fire.

Merchandise shipped on consignment, memorandum or approval unless shipped in fulfillment of an order or request.

Plasma televisions or monitors.

Loss, damage or non-arrival of any Package which:

Is addressed, wrapped or packed insufficiently, incorrectly or contrary to Carrier’s packaging requirements; or

Bears a descriptive label or packaging which tends to describe nature of contents EXCEPT if shipped via Parcel Post and required by Postal Law and Regulations.

Against loss or damage arising out of dishonesty on the part of you, your employees, a Certificate Holder or a Certificate Holder’s employees.

Against loss or damage caused by or resulting from:

Hostile or warlike action in time of peace or war, including action in hindering, combating or defending against an actual, impending or expected attack by:

Any government or sovereign power (de jure or de facto);

Any authority maintaining or using military, naval or air forces;

Military, naval or air forces; or

An agent of any such government power, authority or forces;

Any weapon of war employing atomic fission or radioactive force whether in time of peace or war;

Insurrection, rebellion, revolution, civil war, usurped power, or action taken by governmental authority in hindering, combating or defending against such an occurrence;

Seizure or destruction under quarantine or Customs regulations;

Confiscation by order of any government or public authority or risks of contraband or illegal transportation or trade; or

Nuclear reaction or radiation, or radioactive contamination, however caused. But if nuclear reaction or radiation, or radioactive contamination, results in fire, we will pay for the loss or damage caused by that fire.

 

 

MM

[brg5658]

One of the options when you select insurance is whether you want to use eBays default "ShipCover" or USPS Insurance. I always select to use USPS insurance.

 

You have to choose the right one when you're printing the label.

 

 

[Brol]

One of the options when you select insurance is whether you want to use eBays default "ShipCover" or USPS Insurance. I always select to use USPS insurance.

 

You have to choose the right one when you're printing the label.

 

 

I do the same.

[MorganMan]

I know now the option is there. What really peeves me is that they sell it to you but it does not cover most of what I sell. In my book, FRAUD!

 

Like I said, EBAY? Never again. I mean it this time!

 

MM

[Mr Bo Jingles]

That's why they have the two options MM. One covers coins and one does not. I agree it is confusing and one might even say a little deceptive because the default choice is ship cover.

 

There are caveats to ebay just like there are in the brick and mortar world, however ebay has been a good tool for me both selling my extras and buying for my sets.

[jom]

I'm not completely tutored on eBay things but why can't you just have external insurance and/or self-insure?

 

Before you could except check...not they all but force PayPal on you. Are they doing the same here with postal insurance?

 

jom

[mikew148]

I'm not completely tutored on eBay things but why can't you just have external insurance and/or self-insure?

 

Before you could except check...not they all but force PayPal on you. Are they doing the same here with postal insurance?

 

jom

 

It's the sellers choice to insure a package and he has the option of "ShipCover" or USPS insurance.

 

As Morganman was saying, Shipcover does not cover many items including Coins/Bullion. Ebay has a pull down tab where USPS insurance can be selected which does cover coins.

 

I think the confusion is ShipCover is the the default/first option method of insurance, you have to change that when creating your shipping label.

 

I used Shipcover several times on $500 - $1200 transactions! Luckily all went well.

 

You do have to check a box that states you have read the terms and conditions of using Shipcover, where a list of covered and not covered items is provided. ( No matter how many times I hear it I still check the box and move forward,......READ THE FINE PRINT!!!)

 

I've contacted ebay and told them It would be nice if they could filter the insurance choices to fit the transaction. The list of items not covered by Shipcover is surprisingly long.

 

They said they would look into it............

[FishyOne]

ShipCover also does NOT include Signature Confirmation that is required for PayPal's Seller Coverage on items over $250. ShipCover is worthless to coin sellers. I used it once and realized I'd been "used".

 

USPS Insurance automatically includes a signature requirement at $250 or more. Honestly though? On items under $500 sold through eBay I usually self-insure and ship per PayPal requirements. Never had a problem.

 

 

[MorganMan]

Just a followup:

 

I did NOT get my credit for the Shipcover Insurance within 24 hours like was promised. I called them back and the rep said he saw where the credit was going to be issued but I would have to talk with The rep that did it. He said they would call me within 6 hours. I said NO, and wanted a supervisor. After going back through the same explanation about Shipcover and coins, they said again they would issue a credit and "they would look into it".

 

You folks can E-Bay all you want, but I am done with them!

 

And I still do not have my credit posted....

 

MM

[MorganMan]

Just a followup. I finally got my credit for the Shipcover insurance today, after 3 days of phone calls.

 

MM

[wdrob]

 

I was one that actually read that mumbo jumbo legal agreement the first time I went to insure something through the USPS. I usually send all with Priority Mail 'If it fits, it ships, and I must be mistaken but from what I read, even with the USPS they stipulate they do not insure Coins or Bullion.

 

It is my understanding that in order to insure through USPS coins or bullion you have to go with express or a different tier of service.

 

So the USPS will insure a coin or bullion using priority mail?

 

 

 

 

[MorganMan]

There was a thread about this a year or so ago. I think the final consensus was that they will insure "collector coins", but not rolls of bullion, coins or cash.

 

MM

[wdrob]

 

Ok. But FedEx is good to go right?