Shipping insurance without "proof of value" - possible?

[isiTrue]

I've been researching this topic in past threads and Google searches, but can't find an answer to this.

 

Say you have a rare book that you believe is valuable and would like to have insured for shipping. You can't provide proof of value because there are no recorded sales. Is there a 3rd party shipping insurance company that could cover it in case it's lost, stolen, or damaged?

 

My belief is that if you purchase insurance for $250 or $2500 and the package is lost, the shipping company should cover your loss, no questions asked. Unfortunately, most companies that I've seen require "proof of value" such as an invoice showing the amount that was paid for the item.

 

Apparently, something called "marine insurance" is the closest thing to what I'm looking for. Are there any companies that offer this for small parcels via USPS? I'm just looking to insure two shipments.

 

Thanks guys.

[kav]

I've never heard of this-USPS just charges you some amt for ins and doesn't care if the package is filled with toilet paper...

[mschmidt]

I've never heard of this-USPS just charges you some amt for ins and doesn't care if the package is filled with toilet paper...

 

That's not true - if an insured USPS package gets lost, you need to provide the USPS with proof of value.

[kav]

Huh-I never knew that...

[isiTrue]

Yep. It's annoying for collectibles or items that have sentimental value. For example, you bought Amazing Fantasy #15 for $25 decades ago. You're mailing it to CGC and insure it for $7000. The package never makes it to Florida. USPS will ask to see a receipt showing value of the item, or else they won't honor the insurance claim.

 

I'm wondering if I should just send it registered mail without insurance; at least it's more secure that way. Then again, I'm sure there are some "employees" that are just waiting to see a registered package heading to (or from) CGC.

 

This is so frustrating. Any advice?

[jools&jim]

 

As far as I know, a paid invoice is considered "proof of a value". So you're covered if the shipment is the result of a transaction, and can show (e.g., through PayPal) that the invoice for the item in the package was paid, and for how much.

 

For other situations--like shipping a book you've owned for a long time to CGC, or to be restored, or whatever--you might want to look into carrying a personal collectibles policy, via collectinsure.com or some other company, most of which offer shipping and transport coverage as part of their policy...

[Topnotchman]

You might consider getting an appraisal on the book before mailing it to CGC. Which would be difficult to do, but that may be your best option if it were to get lost.

[isiTrue]

For other situations--like shipping a book you've owned for a long time to CGC, or to be restored, or whatever--you might want to look into carrying a personal collectibles policy, via collectinsure.com or some other company, most of which offer shipping and transport coverage as part of their policy...

 

I haven't looked into that too much because I don't send books for grading that often. If I was mailing several packages a year, then I guess it would make sense.

 

Out of curiosity, do you know how much they would charge to insure $10,000 worth of books? How would shipping insurance work in that case?

 

 

You might consider getting an appraisal on the book before mailing it to CGC. Which would be difficult to do, but that may be your best option if it were to get lost.

 

Unfortunately, an appraisal isn't a viable option. But thanks for the suggestion.

[passion4comics]

Registered is not as secure as you think because as it passes through the USPS system, no one wants to sign for it. I've had 20k books go from point to point through the system, and even with a RESTRICTED DELIVERY stamped on it besides being registered, they just dropped it off in the buyers work mail-room with a signature from an employee. It was lost for about 2-weeks in the system. After it was picked up by the driver and signed for (as if it were cash) NO ONE signed for it after that and it just went through the system.

 

At least with registered mail, they hold the last person that signed off on it accountable for the amount.

 

To insure $10,000 worth of books it's about $27 from my calculations using my own policy as an example.

[isiTrue]

Registered is not as secure as you think because as it passes through the USPS system, no one wants to sign for it. I've had 20k books go from point to point through the system, and even with a RESTRICTED DELIVERY stamped on it besides being registered, they just dropped it off in the buyers work mail-room with a signature from an employee. It was lost for about 2-weeks in the system. After it was picked up by the driver and signed for (as if it were cash) NO ONE signed for it after that and it just went through the system.

 

At least with registered mail, they hold the last person that signed off on it accountable for the amount.

 

To insure $10,000 worth of books it's about $27 from my calculations using my own policy as an example.

 

I see. Registered mail doesn't sound very reassuring now.

 

But $27 (annually?) to insure $10,000 sounds pretty good. And that covers shipping, right?

How long does it take to get that coverage implemented?

[passion4comics]

Registered is not as secure as you think because as it passes through the USPS system, no one wants to sign for it. I've had 20k books go from point to point through the system, and even with a RESTRICTED DELIVERY stamped on it besides being registered, they just dropped it off in the buyers work mail-room with a signature from an employee. It was lost for about 2-weeks in the system. After it was picked up by the driver and signed for (as if it were cash) NO ONE signed for it after that and it just went through the system.

 

At least with registered mail, they hold the last person that signed off on it accountable for the amount.

 

To insure $10,000 worth of books it's about $27 from my calculations using my own policy as an example.

 

I see. Registered mail doesn't sound very reassuring now.

 

But $27 (annually?) to insure $10,000 sounds pretty good. And that covers shipping, right?

How long does it take to get that coverage implemented?

 

I divided what I am paying by your 10k and came up with that number. You have to submit a quote. The numbers may change depending on the coverage. It covered me from the day I told them to start which was the 1st of the next month and after they cashed my check. They will ask you if you have a safe, alarm system, etc etc