eBay has announced their “2010 Fall Seller Update” which includes their new “ShipCover Insurance” offering. This shipping insurance is provided by PIP, a private insurance provider.
Since this announcement was made, we have had many of our eBay customers contact us asking questions about this new coverage. They want to know if it is a “good deal” and “worthwhile”. We cannot directly answer those questions but we will use this venue to answer some questions and comments we have heard by explaining the details:
ShipCover Insurance from eBay
- ShipCover IS NOT offered by our company, Shipsurance.
- eBay is selling the insurance and thus will be integrating some of the claims process with their “Resolution Center”.
- PIP will be handling the claims.
- eBay’s help page states “… PIP will contact you directly about your claim. If you don’t hear from them within 3 weeks, you should contact them…”
- Coverage is available for shipments sent via the USPS, only.
- Insurance rates are not deeply discounted.
- Rates are $1.23 per $100 of coverage.
ShipSaver Insurance from inkFrog & Shipsurance
- ShipSaver(the eBay Application from inkFrog and Shipsurance) is a program that offers lower cost full coverage.
- It is a fully integrated eBay Application that allows eBayers the ability to insure their shipments from within their “My eBay” page.
- ShipSaver rates are currently $0.65 for Domestic USPS shipments and $0.95for International.
- If you insure 10 U.S. shipments with a value between $1 and $100 each with ShipSaver, you only pay $6.50. With ShipCover, it is $12.30! Almost 50% less.
- Coverage is offered for USPS, UPS, and FedEx shipments.
- Claims are paperless and submitted directly through the “My eBay” page.
- Coverage is underwritten by Lloyds of London, one of the largest insurers in the world.
Shipsurance Open Policy Holders – Request a Quote Now!
- Lowest rates.
- eReport Pro program integrates with your eBay account!
- Higher limits of coverage.
- Broader coverage – more items are covered.
- Coverage available for all shipping carriers, including large freight shipments.
- Covers eBay and off-eBay transactions.
- Coverage underwritten by Lloyds of London, one of the largest insurers in the world.
We hope we explained all the relevant details. Insurance though ShipSaver and Shipsurance is by far the best option for most eBayers, but we are biased! However, the breakdown above and our track record of paying claims fairly and rapidly should speak volumes.
Is ShipCover from eBay worthwhile? We will leave that up to you to decide.