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Discussion Starter · #1 ·
Pretty simple really.
Say you ship an item worth one thousand bucks.
You insure it for two, just in case.
The shipper loses or destroys it.

Does the policy pay the full insured amount, or do they get pissy and 'adjust' the payment.

This is completely rhetorical. I'm only just curious how that works.
 

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Pretty simple really.
Say you ship an item worth one thousand bucks.
You insure it for two, just in case.
The shipper loses or destroys it.

Does the policy pay the full insured amount, or do they get pissy and 'adjust' the payment.

This is completely rhetorical. I'm only just curious how that works.
When it comes to filing a claim they will require you to prove the value of the item. Just saying it is worth 2k will not get you 2k for it. You have to show that you sold it online and what the buyer paid or you have to show a venue selling the same item and the value they are asking for it. Just because you put down 2k really means that the best you can hope for is 2k and the truth of the matter is you need proof of value for the insurance to cover it. Their claims person will search online for the same item or one like it and offer the value based on what they find. The days of insuring it for 2k and getting 2k pretty much ended when the scammers started insuring packages and then putting pre-broke items in the box and then filing a claim for the inflated value.
 

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Discussion Starter · #4 ·
When it comes to filing a claim they will require you to prove the value of the item. Just saying it is worth 2k will not get you 2k for it. You have to show that you sold it online and what the buyer paid or you have to show a venue selling the same item and the value they are asking for it. Just because you put down 2k really means that the best you can hope for is 2k and the truth of the matter is you need proof of value for the insurance to cover it. Their claims person will search online for the same item or one like it and offer the value based on what they find. The days of insuring it for 2k and getting 2k pretty much ended when the scammers started insuring packages and then putting pre-broke items in the box and then filing a claim for the inflated value.
I never even took that angle into account. Makes sense that way. Thanks. :)
 
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