Shipping insurance question
 

When shipping a card to a grader, let's say with an individual value of $10,000, what is your preferred method for insuring it? USPS insurance is apparently very tough to collect on, and FedEx limits how much you can insure it for. I talked to one of the prominent 3rd party collectibles insurers today, and had planned to cover myself that way, but they told me that they can only insure each individual item for a maximum of $2,000 when it is out of my possession, such as on the way to and coming back from the grader. I don't see any good options. Are there reliable 3rd party insurers that can be used for single shipments?

Thanks for any advice that you might have.
Chad

USPS Registered Mail is the least expensive(insurance wise) and safest option.

Thanks. I thought about that, but do they actually provide insurance or is it the 'declared value' thing where you fight them on the value after the fact? Also I was hoping for something that covers the return trip from the grader as well, unless the graders cover that door-to-door?

I believe PSA has offices in both Santa Ana & Newport Beach.

Might be worth doing a hand delivery on a $10K card?

I agree USPS registered mail is by far the safest way to ship valuable cards. Box has to be completely wrapped with paper tape. Post Office stamps every place tape overlaps to insure it cannot be opened without obvious tampering and it is literally signed for and handled at each stop along the way to the destination. It takes longer to get to the final destination. Sometimes a week or longer even if shipped by Priority Mail but I have never had a package lost using this method. The declared value is the insured value. I would still have pictures of the card and the package just in case the almost impossible happens and it gets lost. It is very unlikely but anything is possible. Card company is responsible for insuring the return to you for the value of the card and would be responsible if package gets lost.

It is very interesting that many of you suggest USPS registered mail. I have never used their registered mail since I very dislike the fact that USPS doesn't has live tracking update. I did claimed an insurance for $200 because they lost a package and they didn't challenge what was the content etc may be because it was only $200 and that's my declared value.

The grading service covers the return and you can select which way you want it sent USPS/Fed/EX etc.

I just sent two higher dollar cards to a TPG, needed quick turnaround, so sent the package USPS overnight, they had the cards the next afternoon, the more valuable of the two(five-figures like yours) was graded and back to me within 5 days. However the insurance limit is 5k. I have private insurance which covered it, but would not be worth getting a policy for a one time event.

Registered mail can be insured up to 50k.

Which collectibles insurer did you talk to?

Another registered opinion
 

Registered is the only shipping option under which you can send AND insure cash! It takes extra time, but as others have said - safest way I know. I have used it for multiple 5 figure transactions. Not sure about the return trip - check with the TPG. I have since gotten private insurance that covers shipping.

Thanks for the feedback everyone, it's very appreciated. I graded a couple hundred '55 and '56 Topps back in 2011 with PSA but its been so long I forgot how I shipped them. It was Registered Mail, I recall 'gluing on' the paper tape and the post office stamping across the tape now. It sounds like this is the right choice for me again. And I still have the tape!

I would probably take the time to drive to Newport Beach and walk it into PSA if that's where I was sending it, but it needs to make the cross country trip to Boca Raton.

Thanks again!

FYI from SGC Terms and Conditions

16. SGC shall have no liability whatsoever to Customer, or any third party for whom Customer may be acting, related to any damage to any item resulting from the breaking open of an SGC holder or third-party holder, or for any damage to any item hat occurred while the card was not in the custody or control of SGC including, but not limited to, loss or damage to items while being shipped to SGC, or while being shipped by SGC to Customer.

Sorry, just realized that I didn't answer your question. It was American Collectors.