So recently I had a problem with an item I shipped via USPS. Long story short one day it went out for delivery, and then disappeared into the realm of lost mail. It has been MIA since November and I don't expect to hear anything more about it. I filed an insurance claim (got $50 out of $150 because I didn't think to buy insurance).
So. I shelled out $100 dollars to refund my customer since they never got their bodysuit. On top of that I'm also now out the bodysuit which was originally $300 I was just trying to get some of my money back on it (and ended up losing money oh the irony).
Anyway, this made me realize I need to do some thinking on insurance especially on more expensive items like partials. I'm getting to the point where a partial is around 7-800$. My question is this, how do you guys handle insurance? I would double insure an item but I don't think the post office will refund that amount (only the item's true value) even if enough insurance was purchased. My thing is this I am afraid that if I say ship a partial and it is lost/damaged/destroyed what have you, that even WITH insurance it seems like best case scenario all I'll be able to do is refund the buyer. However, I would be out an $800. Is there anything I can do so that I won't be totally screwed if a shipping service loses my package?
I know it's very unlikely but just the prospect of losing something that valuable really dissuades me from wanting to ship, but not sure what else I can do but risk it. However, I'd like to hear your guy's thoughts/policies/etc. How do you guys handle situations like that? Just take the loss and write it off as cost of doing business? I was pretty infuriated at the USPS's lack of any assistance/giving a crap what so ever when the item was lost.
Anywho, could start a rant about that but I won't. ;)
Love to hear what you guys think about this and any advice would be amazing!
So. I shelled out $100 dollars to refund my customer since they never got their bodysuit. On top of that I'm also now out the bodysuit which was originally $300 I was just trying to get some of my money back on it (and ended up losing money oh the irony).
Anyway, this made me realize I need to do some thinking on insurance especially on more expensive items like partials. I'm getting to the point where a partial is around 7-800$. My question is this, how do you guys handle insurance? I would double insure an item but I don't think the post office will refund that amount (only the item's true value) even if enough insurance was purchased. My thing is this I am afraid that if I say ship a partial and it is lost/damaged/destroyed what have you, that even WITH insurance it seems like best case scenario all I'll be able to do is refund the buyer. However, I would be out an $800. Is there anything I can do so that I won't be totally screwed if a shipping service loses my package?
I know it's very unlikely but just the prospect of losing something that valuable really dissuades me from wanting to ship, but not sure what else I can do but risk it. However, I'd like to hear your guy's thoughts/policies/etc. How do you guys handle situations like that? Just take the loss and write it off as cost of doing business? I was pretty infuriated at the USPS's lack of any assistance/giving a crap what so ever when the item was lost.
Anywho, could start a rant about that but I won't. ;)
Love to hear what you guys think about this and any advice would be amazing!