subject: Advantages of Insurance on eBay [print this page] Advantages of Insurance on eBay
A large number of buyers as well as sellers trading through eBay would be more than willing to agree that when items are shipped, it is highly advisable to purchase Ebay Insurance. It would be worth mentioning here that when people talk about insurance on eBay, it does not mean that eBay is offering any insurance on the purchase and sale of products or services completed through their website. Insurance on eBay in fact refers to either insurance on shipping, a protection plan from the electronic mode of payment used or employing an escrow scheme to complete the dealing.
Having insurance on eBay can be said to be the key for successful and safe completion of all buy and sale activities. Insurance on eBay while shipping is critical for two reasons, irrespective of whether one is the buyer or the seller. Therefore, one may opt to insure the items, firstly because eBay insurance will insure the items just in case they are misplaced or damaged, during the shipping process or when in transit. Secondly, insurance on eBay products is helpful because it consists of the tracking along with the delivery information of the products. This helps the buyer keep track of the purchase while it is in transit and on the other hand, the seller is informed when the product is delivered or reaches the buyer.
When opting for Insurance on ebay, it is highly recommended to purchase as much insurance as the product is really worth. eBay insurance on the product should be purchased based on what is its price in retail channels, proviso such information is accessible. This is supposed to be done by the sellers, irrespective of whether their product is sold for an amount higher than the market value of the product or lower than the market value of the product. This is explained further. It is doubtful that the sellers will receive higher insurance reimbursement for the product than its present retail value. So it is futile to pay any extra charges that are an outcome of higher insurance values. Concurrently, albeit the product is sold for a price lower than its present retail value, it is this retail value that is likely to be spent in replacing the product.
Insurance on eBay products makes it necessary for the sellers to ensure that they keep all the shipping records readily available until the purchaser substantiates that he/she is in possession of the product shipped. It is important to maintain these eBay insurance documents, in the inopportune event of having to make a claim on the product shipped.
Sellers are also advised that if they have covered their products under eBay insurance, they click a photo or two of the packaged product prior to shipping it. Ensure that in the photograph, the address label is clearly visible. This will prove to be of immense help when making a claim, just in case the package is lost or damaged as this will serve as evidence for the seller.
It may at times happen that when claims are made under eBay insurance, in case of loss or damage, the full amount lost may not be recovered. However, in spite of this, it is suggested to continue opting for eBay insurance. Also, sellers can make a mention that their products are insured against eBay insurance in their product listings. This mention is likely to attract the vigilant set of buyers.
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