Any Canadians have experience insuring an item worth 5-10K?

I have a single collectible item to sell that might go for 5-10K. I could only find some really old posts on here that suggested companies like U-Pic for insurance, but I see they only offer up to $1500. Anyone have experience getting insurance on 5-10K? Most likely would be a US buyer, but will be set to worldwide. I saw other companies like ShipSaver, Shipsurance, HWI, but wondering if anyone has experience here before I reach out to them all for quotes.

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Re: Any Canadians have experience insuring an item worth 5-10K?

This site Secursus. Insures customers worldwide, including Canada.

$5,000 value costs $50 to insure. Not bad at all.

https://www.secursus.com/en-us/faq/

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Re: Any Canadians have experience insuring an item worth 5-10K?

Once and a while I sell radios up in that price range. I used to insure them with Canada Post - but it got to expensive. In 20 years on eBay I have never had a problem with shipping by mail so I quit doing it. Now all I do with expensive items is ship Air Mail/Priority Post and get a signature.

__________________________________________________________

Old enough to know better. Young enough to do it again. Crazy enough to try
Message 2 of 24
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Re: Any Canadians have experience insuring an item worth 5-10K?

I rarely sell high priced items and to be honest, I would hesitate about selling an item of that value online.  It might depend on the item though as some types of items to tend to attract less than honest people.

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Re: Any Canadians have experience insuring an item worth 5-10K?

We use Hugh Wood International for the auction DH is still involved with, and for our own collections. But they demand an annual contract,

They are the insurers for among others the American Philatelic Society and would not even blink at a $10K item. Most Canadian stamp dealers and high end collectors use them.

 

However, for a one off, you could approach Shipsurance which seems to be accepted by many sellers for one off shipments.

Unless you are planning to sell on a more experienced iD, I would be very careful with such a high value item.

For example, you might want to restrict "worldwide " sales to the EU, UK, Japan and Oz.

 

 

 

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Re: Any Canadians have experience insuring an item worth 5-10K?

I have never shipped an item valued that high, but I sure would if I had a sale like that.  

 

I have shipped higher priced items and when I do so I make sure to have the first $1,000 insured with the Post Office as opposed to a third party insurer.   Thay way they take very good care that it arrives since paying out $1,000 makes them cringe a lot.

 

I have staggered insurance in some cases.   Since the limit for most insurance is $1,000 it's possible to insure $1,000 with the PO and $1,000 with Shipsurance and you could probably keep going and piece it out among more insurers.

Hope you get the $5 to $10 K.  Good Luck.

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Re: Any Canadians have experience insuring an item worth 5-10K?

fyi, Shipsurance said:

"Based on the information you provided on your quote request our open coverage certificates may not be the best option for you. We typically charge a monthly minimum premium and you will not meet these requirement based on your shipping volume. Our policy holders normally insure a minimum of 4 packages per day.
With that in mind we have great coverage options for you to consider. 
ShipSaver " (Followed by the contact info for ShipSaver)

 

And then Shipsaver said:

"ShipSaver Support (Shipsaver.com)

Jul 29, 2022, 11:56 AM PDT

We cannot insure packages that originate within Canada sorry.

ShipSaver Support"

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Re: Any Canadians have experience insuring an item worth 5-10K?

Are you covered by home insurance (doubtful) or by commercial insurance (if you have a business,even if it is not related)?

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Re: Any Canadians have experience insuring an item worth 5-10K?

What are you insuring against?

Damage? Loss in transit? Delayed delivery?

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Re: Any Canadians have experience insuring an item worth 5-10K?

Damage or loss, ya. I can't see how home insurance would cover items that you're shipping away. And no, I don't have a business, just a guy with a few collectibles to sell and then I'm done selling stuff. And I live in small city, so no local market for it.

Message 9 of 24
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Re: Any Canadians have experience insuring an item worth 5-10K?

This site Secursus. Insures customers worldwide, including Canada.

$5,000 value costs $50 to insure. Not bad at all.

https://www.secursus.com/en-us/faq/

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Re: Any Canadians have experience insuring an item worth 5-10K?

Most of the problems with damage come down to poor packaging.

When I took a seminar sponsored by eBay a couple of decades ago, an officer from Canada Post told us to package as if our shipment were going to drop two feet from one conveyor to another and then have a 50lb package drop on top of it.

This is what he was referring to.

postal terminal chaos.jpgPOSTAL WORKERS.pngCANADA POST CHUTES.jpgCANADA POST -TERMINAL.jpg

 

Delay is more common than outright loss, but certainly is something to be concerned about. It might be best to mark the package No Safe Drop, and of course you would be using Signature Confirmation.

 

One thing that worries occasional sellers is post office boxes, which are actually the safest addresses, since the owner has to have a key to open the box or present ID to pickup up larger packages.  This is also basically true for commercial boxes (UPS, Mailboxes Etc.)

It might be best to mark the package No Safe Drop, and of course you would be using Signature Confirmation.

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Re: Any Canadians have experience insuring an item worth 5-10K?


@reallynicestamps wrote:

Most of the problems with damage come down to poor packaging.

When I took a seminar sponsored by eBay a couple of decades ago, an officer from Canada Post told us to package as if our shipment were going to drop two feet from one conveyor to another and then have a 50lb package drop on top of it.

This is what he was referring to.

postal terminal chaos.jpgPOSTAL WORKERS.pngCANADA POST CHUTES.jpgCANADA POST -TERMINAL.jpg

 

Delay is more common than outright loss, but certainly is something to be concerned about. It might be best to mark the package No Safe Drop, and of course you would be using Signature Confirmation.

 

One thing that worries occasional sellers is post office boxes, which are actually the safest addresses, since the owner has to have a key to open the box or present ID to pickup up larger packages.  This is also basically true for commercial boxes (UPS, Mailboxes Etc.)

It might be best to mark the package No Safe Drop, and of course you would be using Signature Confirmation.


From both a sellers and buyers perspective it would nice if this was an available option from eBay. This generally takes a bit of communication between buyer and seller. Unfortunately with payment there are limited ways to advise the seller to mark a package Do Not Safe Drop (or even safe drop). It would have to be done using eBay messaging and seller would need to spot prior to packing and mark the package accordingly.  At 1 time with many services it was possible to add notes to a parcel label for the driver (Would need to display on his scanner). Currently that would only be with couriers.

 

In checking eBay labels options you are able to add signature service with the 2 Fedex Services for 5.50. 1.75 for CP non premium. Free with premium services (Priority Canada) (Xpresspost USA)

 

-Lotz

 

PS. Still have a few old fashioned manual paper waybills from Fedex/UPS. Keep them around as a reminder of all the bills I filled out in the past! 🤐

 

-Lotz

Message 12 of 24
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Re: Any Canadians have experience insuring an item worth 5-10K?

I use Do Not Safe Drop on all packages I send out, but I do them through Snap Ship rather than eBay labels. It takes a little longer, but allows me to verify addresses and deal with claims easier (if necessary). It also means you get credit towards higher discount tiers.

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Re: Any Canadians have experience insuring an item worth 5-10K?

At 1 time with many services it was possible to add notes to a parcel label for the driver (Would need to display on his scanner). Currently that would only be with couriers.

 

Umm- Does no one own a Sharpie Pen anymore?

That would stand out much better on a parcel than a few more words on a printed page.

I would bet that most carriers only have time to read the address.

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Re: Any Canadians have experience insuring an item worth 5-10K?

Lot's of good advice here.  I've shipped fairly expensive items since the early 80's. You didn't say what the item is. I looked at your listings. If it's something small like that some of these details may not apply. Possibly it can be sent in an Xpresspost container.  Shipping a Pokeman card is differnt than shipping a Flying V guitar. That said I've included it because someone else may be shipping a larger item. Here's a couple tips;

 

*Don't buy insurance from a broker  who will sell you something they call "insurance" because they seem to be the only one.  There could be a reason they are doing that kind of business when few others do.

 

*Read ALL of the "insurance"  policy before you buy. One company's insurance is different from another. For example Shipsurance will not cover you if anything written or pictured on the outside of the box in some way eludes to what is in the box or that the content is valuable. This may or may not include writing "Do Not Safe Drop" on the packaging. I don't know but I'd never use eBay shipping supplies like branded tape.  This may seem petty.  Shipsurance has many complaints in customer reviews about it. On a 5K to 10K item I would keep all extrerior packaging plain stark blank.  Sometimes I use a fragile sticker or two but very rarely.

 

*Read all of their customer reviews. Keep in mind most satisfied customers don't post a review just the unhappy ones. I  read them anyway because they are often from someone disgruntled who didn't read the complete policy. 

 

*Photograph or video the packing in progress. Get 6 good still photos of the exterior sides including bottom of the box showing it properly packed in a solid new container with no old mailing address labels or any bar coding or QR's on it.

 

Overseas Shipping: These days I only ship higher value items to Canada and the USA. Most of it is heavy. The shipping costs are too high. It is also due to the idiosyncacies of each foreign Customs' regulations and process. Each one has a different restricted items list. Most of the countries have no such thing as "Safe Drop".

 

   There are too many handlers between me and the buyer. The number of days in transit is triple or more than that of the USA depending on the period you ship it. The risk of having an issue with it out there so long is very high. An issue can be compounded by a language barrier.

 

 It sounds like you think it will sell in the USA. I would just go with that and Canada.

 

Possible option: I was contacted by a buyer from overseas for a shipping cost. When I politely told him I couldn't ship it there he said he had a relative in New York so  I offered to sell it to the person in NY. It happened and they looked after the overseas leg. 

 

Whatever you decide please post a follow up to this thread on what you did and how it went. this is a question that rarely gets asked here and I learn from these other posters!

 

Best wishes,

ITWM

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Re: Any Canadians have experience insuring an item worth 5-10K?


@reallynicestamps wrote:

At 1 time with many services it was possible to add notes to a parcel label for the driver (Would need to display on his scanner). Currently that would only be with couriers.

 

Umm- Does no one own a Sharpie Pen anymore?

That would stand out much better on a parcel than a few more words on a printed page.

I would bet that most carriers only have time to read the address.


It appears amazon staff do not know how to use a marker. We note on anything we order from them ring bell to deliver.  It took catching the driver dropping off a parcel, then on the way back to his truck and hollering about the ringing bell he acknowledged it was on his scanner. He said he just didn't see it. Now he/and others ring bell. 

 

-Lotz

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Re: Any Canadians have experience insuring an item worth 5-10K?

Sorry for getting off topic but lately I've been making a lot of eBay purchases. Global shipping is now using a courier called Raven Force. Not sure if they're in other provinces. I have a large steel parcel locker outside the building with a sign requesting couriers place the item in the lockbox. For years no problem with anyone except Raven. Yesterday he left my new Nikon on the ground 2 feet from the big box.  Here's their tracking for the last leg...Richmond to Kelowna... I think the tracking speaks for itself.  It shows Tuesday thru Saturday. the only non biz day was Sat. unacceptable courier ravenforce.JPG

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Re: Any Canadians have experience insuring an item worth 5-10K?

First it was AppleExpress, then it was IntelCom, and now introducing Raven.

 

 

 

And some people want to privatize the Post Office.

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Re: Any Canadians have experience insuring an item worth 5-10K?


@reallynicestamps wrote:

First it was AppleExpress, then it was IntelCom, and now introducing Raven.

 

 

 

And some people want to privatize the Post Office.


According to Raven's website they are supposed to be National...Across Canada. Does state this in the notes. 

 

Our Company

We offer a full range of courier service levels to suit the needs of businesses in the Greater Vancouver Area and throughout Vancouver Island. Our couriers are more than ready to help with any of your short distance delivery needs. When you choose Raven Force Couriers to deliver your important documents or packages, you can rest assured things will arrive quickly and safely in a courteous and professional manner. Our number one goal is to ensure complete client satisfaction, and we make sure our services are tailored to meet any and all expectations for service and reliability.

 

  1. Delivered to your destination.
    • Home address, business address or PO Box

Full site info:

 

https://ravenforcecouriers.com/

 

-Lotz

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Re: Any Canadians have experience insuring an item worth 5-10K?

I really really want to support eBay by purchasing on it, not just selling but frankly the Global Shipping Program  is embarrassing.  I'm happy with my purchase  but ashamed of the waste of carbon thanks to the  GSP.

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