Thread: TABOO: Value

Originally Posted by chay2K

So, if I buy a $100 razor on ebay for $12, I can only insure it for $12? That's crazy...

If you buy a razor for $12 it is worth $12.

If at a future point you sell it for $100 then it is worth $100 when that transaction occurs.

Just think how fast insurance companies would go broke if $12 items suddenly became $100 items just by stuffing in them in an envelope. It's not as if there would be any scammers who would try to take advantage of that.

As a practical matter if you buy an item and ship it and insure it they will pay you what your receipt says as long as it's not out of line. If it's a collectible you will have to prove to them the enhanced value probably by showing them other items the same and what they sell for. I'm not aware of any experts on razors out there. Just make sure you take photos before shipping. You also have to be careful with certain items they classify as basically not insurable. You need to go to their website to read the fine-print. Their agents don't have a clue.

It's true that you can insure for whatever you want and they will gladly accept your money but when the item is lost then the claim is scrutinized closely and if there is an issue they will cheerfully refund your insurance premium.

It's a well know fact that when you insure something and get an appraisal for insurance purposes the values are hugely inflated.

Originally Posted by JimmyHAD

Just as an aside, if the USPS decides that the packaging was insufficient to protect the item and it is damaged in transit, that lets them off the hook. Always save the original packaging if you have to make a claim. If you are the shipper a box with bubble wrap is probably better than a padded envelope.

Save the original packaging? Then what do you ship it in?

Originally Posted by leadduck

Save the original packaging? Then what do you ship it in?

He meant if it comes in damaged, save that packaging to prove to the USPS how well it was packed.