RICARMICs Self insurance cookie jar statistics to end of 2024

A little later than usual, but better late then never!

 

Overall Notes:

-I live in the stamp collectors world, so these results are all from postage stamp selling categories

-prior to 2018 I sold only on .COM. Since then new stuff is about equally divided between .COM and .CA depending on intended audience and shipping costs (low value stuff with high small packet shipping cost to USA are listed on .CA with USA shipping costs, larger versions of the same lots are on the .COM to try to get them to buy the larger more cost effective to ship to them lots)

-starting in 2022 I  began blocking countries, I block 107 countries now. I do not have any other blocks, but I do maintain a blocked buyer list.

-this review includes items lost to "crime" as well. "Crime" is defined here as situations where I think or know people purposefully buy with bad intentions, or claiming false lost in transit.

-because of the blocked countries, I sell less stuff internationally now, just under 20% of my packages go outside North America

-the numbers below are specific to eBay sales. I experience losses both real and "crime" related via the other online venues I use so package loss rate is not only an ebay buyer issue.

 

It is also worth noting that for 2024 I continued to have 3 types of insurance:

  1. Self insurance for the small stuff
  2. Canada Post for the first $100 only when items are sent expedited, expresspost, or trackable
  3. 3rd party insurer (Hugh Wood) for stuff over $200

2024 results

 

% of shipments lost = .003 = very much less than 1/2 of 1% of packages lost without repayment, so about 1 in 333 packages were lost; 

% of $ sales = .0011 = just over one 10th of 1%!

4 items "lost" in 2024: Canada (1), Colombia (1), Portugal (1), USA (1)

   0 Identified as lost to "crime" 

   1 repaid (the Canada one was to repeat Canadian customer, it came back to me, I resent, they repaid)

   2 items mailed to USA customer 1 day apart, the first one did not arrive, the 2nd one arrived

 

Things of note in 2024

-I shut down for 2 months of the postal strike, which in addition to my normal 2 month summer and other holidays meant I was shut down for about 5 months of the year, Because of this, total shipments and $$$ were down about 33% from the year before. (during the strike I invested time in contingency "non postal oriented" sales venues. So far that has been successful)

 

2023 results

 

% of shipments lost = .0013 = very much less than 1/2 of 1% of packages lost without repayment, so about 1 in 763 packages are lost; my lowest loss rate ever!

% of $ sales = .0016 = just over one 6th of 1%!

2 items "lost" in 2023: USA(1), South Africa (1)

   0 Italy identified as lost to "crime" 

   0 repaid

 

Things of note in 2023.

-all lost packages were not tracked

-South Africa is now blocked

 

 

2022 results

 

% of shipments lost = .004 = less than 1/2 of 1% of packages lost without repayment (.005% lost with repayment included), so about 1 in 250 packages are lost this is a bit worse than 2021

% of $ sales = .0078 = just over 3/4 of 1% this is just a bit higher than 2021*see notes below

10 items "lost" in 2022: India(2 1 forwarded to), Italy(2), USA(1), Canada (1), Uruguay (1), Germany(1), Australia(1), Mongolia (1 forwarded to)

   1 Italy identified as lost to "crime" 

   2 repaid, Uruguay, and Italy (non-crime of course)

   Canadian one was likely confused buyer, 3 of many items purchased, other items purchased with missing

      ones were received? Didn't raise this expecting it would just cost me more, simply sadly blocked them.

   India chose to take risk on sending one of the 2 missing as COGS was very low

 

Things of note in 2022.

-with the worst of COVID theoretically past, it is interesting that 2022 results were worse than the COVID years! Having said this some of this is due to the fact that the Italy(crime) and 2 India losses were relatively large compared to average $$ losses.

-all lost packages were not tracked

-my new blocked countries have removed 2 of the above, India, Germany

 

2021 results

 

% of shipments lost = .0033 = 1/3 of 1% of packages lost without repayment, so about 1 in 300 packages are lost this is basically the same as 2020

% of $ sales = .004 = under 1/2 of 1% this is just a bit higher than 2020, so about 1 in 250 packages are lost

12 items "lost" in 2021 USA(4), Canada (1) UK(1), Croatia (1), Uruguay (1), Colombia (1), Mexico (1), Israel (1), Slovenia (1)

   1 identified as lost to "crime" 

   12 lost and unrecovered so far

   1 repaid (from loss in 2020 so I didn't count it)

 

Things of note in 2021.

-with COVID continuing, one would expect much worse results, however the actual results were better/lower than usual loss rates before COVID with a much higher sales volume during COVID!!

-one lost package to USA was through US forwarding company

-all lost packages were not tracked

-I mailed to a lot of scary countries this year like India, Russia, Eastern Europe, Latin American countries etc and relatively speaking low losses to them!

 

2020 results

 

% of shipments = .003 = under 1/3 of 1% of packages lost without repayment, so about 1 in 333 packages are lost this is lower/better than 2019

% of $ sales = .0033 = 1/3 of 1% this is lower/better than 2019 

17 items "lost" in 2020 Canada(5), USA(5), UK(2), Australia(1), Greece(1), Italy(1), NZ(1), Spain(1)

   1 lost to "crime" (buyer was selling stuff that "never arrived")

   10 lost and unrecovered (this fewer unrecovereds than 2019!)

   7 repaid

 

Things of note in 2020.

-COVID, one would expect much worse results, however the actual results were better/lower than usual loss rate with a much higher sales volume!!

-one lost package to Canada was to a many times repeat customer

-one lost package to Korea through US forwarding company that uses multiple IDs (so it counts as US above). I thought I had blocked them all but I missed this one, I did find and cancel due to "bad address" other attempts from the other IDs from the same forwarding company.

-all lost packages were not tracked

-even with COVID I mailed to a lot of scary countries this year like Malaysia, India, Russia, Eastern Europe, Latin American countries etc and no losses to them!

-the "premonition" loss signs at this point (due to the COVID/XMAS combo) do not look to be any worse than a normal year, I do not anticipate at this point the January losses for items shipped in Nov/Dec to be much, if any higher than normal.

 

2019 results

 

% of shipments = .0047 = under 1/2 of 1% of packages lost, so about 1 in 212 packages are lost

% of $ sales = .0041 = under 1/2 of 1% this is much higher than last year but a more normal %

11 items "lost" in 2019 Czech(1), Hungary*(1), Romania(1), Russia(1), Sri Lanka (1), UK(2), Ukraine(1), USA(3)

   0 believed to be lost to "crime" (none that I felt strongly about)

   11 lost and unrecovered (this is the most unrecovereds, but some may bleed over to 2020)

   0 repaid

 

Things of note in 2019.

-this is more of a normal loss rate

-the lost package to Hungary was to a many times repeat customer before and after loss

-all lost packages were not tracked

-I mailed to a lot of "scary" countries this year and most of them are not on the loss list!

-in 2019 I raised the bar on tracking, I tracked fewer packages "close to the line" in 2019. So far, zero tracked losses, so this theoretically would have saved maybe half of the loss $ if I incorporated it but I did not because I didn't closely track the relevant savings.

-see comment under what I've begun listing on .CA that used to be on .COM

 

2018 results

 

% of shipments = .0018 = under 1/5 of 1% of packages lost, so about 1 in 550 packages are lost

% of sales = .00044 = under 1/20 of 1% ie almost negligible percent loss rate $ wise

4 items "lost" in 2018 Canada(2), USA, USA forwarder to Paraguay

   1 believed to be lost to "crime" (Paraguay forwarded)

   4 lost and unrecovered

   0 repaid

 

Things of note in 2018.

-this is the lowest loss rate since I've been reviewing this way, previous record low was 8

-all lost packages were not tracked

-no items so far lost due to Canada Post strike

-I mailed to a lot of "scary" countries this year and so far only losses have been to Canada or US addresses

-only significant 2018 change was beginning to list material on .CA

 

2017 results

 

% of shipments = .0071 = under 3/4 of 1% of packages lost, so about 1 in 140 packages are lost

(all lost packages were  not tracked)

% of sales = .0044 = under 1/2 of one percent loss rate $ wise

13 items "lost"*** in 2017 Australia,Canada(5),Colombia,Italy,Russia(2),USA(3*)

   3 believed to be lost to "crime" (Canada,Russia(2) based on spider senses)

   10 lost and unrecovered(so far). 1 Found later** Canada, 2 arrived later & repaid Colombia, Italy

   3 repaid (Buyer found or advised delivery later and repaid: Canada, Colombia, Italy)

 

*2 of the USA losses were to USA forwarding companies (1 buyer from Paraguay, 1 buyer from China)

** on return from vacation, lot was lost in a pile of junk mail which was not dealt with and found for a few weeks

*** 1 lost lot to Canada and 1 to Italy were lost to long time, regular buyers who have continued to purchase regularly since AOK.

 

Things I did in 2017.

-nothing new it seems in 2017 different from 2016

 

2016 results

 

% of shipments = .004 = under one half of 1% of packages are lost, so about 1 in 250 packages are lost

% of sales = .0024 = about one quarter of 1 percent loss rate

   8 "lost" in 2016 USA(2),Canada,India,Oman,Russia,Australia,Bolivia

   1 believed to be lost to "crime" (based on spider senses)

   7 lost and unrecovered(so far). 1 USA advised arrival later and repaid

   1 repaid (Buyer advised delivery later and repaid: USA)

   1 odd situation, other USA buyer convinced me to unblock them and they successfully purchased 3 more items

 

Things I did in 2016.

-I China & Brazil require trackable shipping, ie lowest shipping $17.50 regardless item size. Number of buyers especially China increased over the year, they began buying batches of stuff to make the postage palatable.

-decided against adding extra custom shipping costs to Russian buyers (not tracking) so far, am also considering doing the same for others

-I sell in US$ so the lower $C rate gives me more room to make packages trackable, which I’ve been doing more to new buyers and/or buyers in scary countries

-I did change my flat rate shipping to Standard Shipping (outside the US) to add a few more days to the est delivery date

 

 2015 results

 

% of shipments = .0097 = about 1% of packages are lost, so about 1 in 100 packages are lost

% of sales = .0090 = about 1 percent loss rate

   13 "lost" in 2015 Russia(5) Belarus, Canada, China, French Polynesia, Kuwait, Pakistan, South Africa, Sri Lanka

   3 believed to be lost to "crime" (Russia, ordered 3 separately close together)

   9 lost and unrecovered(so far)

   1 repaid (Buyer advised delivery later and repaid: Canada)

 

Things I did in 2015.

-I changed China and Brazil to custom shipping requiring trackable shipping, ie lowest shipping $17.50 regardless item size. Number of buyers dropped dramatically.

-am considering adding extra custom shipping costs to Russian buyers (not tracking), however had many sales, including one for $1500 which more than offsets the minor losses.

-I sell in US$ so the lower $C rate gives me more room to make packages trackable, which I’ve been doing more to new buyers and/or buyers in scary countries

 

2014 results

 

 % of shipments = .0051 = 1/2 a % of packages are lost, so about  1 in 200 packages are lost

 % of sales = .0040 = .4% of sales ie less than 1/2 of one percent loss rate

     10 "lost" in 2014 USA(2) Nepal(1) China(2) Brazil(3) Germany(1) Russia (1)

       2 believed to be lost to "crime" (China)

       5 lost and unrecovered(so far) USA(2) Brazil (2) Russia

       3 repaid (Buyer advised delivery later and repaid: Nepal,Germany,Brazil)

 

2013 results one half of one percent of sales loss rate:

 

0.51% "insurance" loss rate (10 unrecovered losses USAx3,Argentina,Chinax3,France,Israel,North Korea)

   0.3% as a result of "crime" (6 shipments)

   0.21% as a result of items lost in the mail (4 shipments)

 (Note in 2013 2 packages “lost” and later arrived and Buyers repaid(Brazil, Russia), 1 package loss partially covered by Canada post, no losses covered by 3rd party insurer)

 

2012 results - under 1% of sales loss rate:

 

0.83% "insurance": loss rate (unrecovered loss 9 shipments Argentina,Australia,Brazil,Canada,Chinax2,Indonesia,Russia,Turkey)

   0.78% as a result of "crime" (2 shipments)

   0.04% as a result of items lost in the mail (7 shipments)

 

A reminder that 2012 is the year that CP covered the small packets, I had a few recoveries this way.

 

I had a big crime loss within Canada (this was also spelled out in a different thread).

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RICARMICs Self insurance cookie jar statistics to end of 2024

Your post is interesting, and all stuff my business partner would be interested in reading about our store (if I spent the time to compile those stats).

 

I'm not sure how many packages I lost in 2024... maybe 10-15 (all not tracked except 1). The tracked package was worth $275 USD and my shipper only gave me $50 CAD of insurance (I bought my postage on eBay, and the shipper lost it, so USPS wouldn't pay, the shipper wouldn't pay, I kept calling them and telling them to look for it and they paid me to go away).

 

The lost tracked package is the cause for my neutral feedback, the only one on my account in the lifetime on ebay (I have gotten neutrals/negs before, but they've all been scrubbed). I didn't want to undermine my buyer's disappointment and let this neutral stay, he has been a repeat customer and buys lots of things other buyers aren't that interested in.

 

The $275 USD lost package is the only one that matters to me... for the other 9-14 untracked packages, I'm not sure if buyers are being honest or not. I think some people are quick to file an INR and don't want to repay when the item shows up. I generally refund and block on untracked stuff.

 

C.

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RICARMICs Self insurance cookie jar statistics to end of 2024

Thanks for that! I used to be on the stamp selling side, though for the past 15 I sell gaming cards. Recently I've been using fedex for higher value items. They are the only provider on ebay to insure higher valued items to certain destinations.  Though recently, I'm now realizing that fedex is not at all an honest company. Invoicing double the shipping labels costs from what was initially estimated. Also some major fedex complaints on the buyers side.  Anyways, this has me exploring 3rd party insurance, and self insuring most of my lower value sales. I'm guessing that your experience with Hugh Wood must be pretty good?  Thanks again for your very detailed stats on past experience.
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RICARMICs Self insurance cookie jar statistics to end of 2024

@ottawagamingcards the "good" news for me is that I have not had a shipping claim that's made it to the Hugh Woods level in at least 10 years, keeping in mind I have to lose something that is worth over $200 before I would get anything from them because Canada Post covers the first $100, and there's a $100 deductible. The even better news for me is that I've not yet had a catastrophic insurance event and hopefully I never will. 

 

As my business has evolved in the last few years locations and style wise, they've been able to continue to support those changes.

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RICARMICs Self insurance cookie jar statistics to end of 2024

@ottawagamingcards Sorry I should have mentioned that the cost of the "shipping insurance" is very small, it is very very very much cheaper than paying on a per piece basis, however the overall policy that it lives under is not cheap (the piece that covers the catastrophic style claims, stock and liability wise). 

 

I don't mean that it is "high" just that you can't only purchase the "shipping insurance" on its own. I don't want to put the numbers up which might mislead folks in this regard but the cost of the "shipping insurance" aspect is 1.5% of the total policy value, hopefully that puts it in perspective.

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