Sending Parcel £5000 Insurance

£80 is only about 1.5% of the total cost. As has been said, if I was spending that much on a single item I wouldn't begrudge paying a little for insurance.

It's the fact a lot of my customers are paying £45 for a battery and reseal and ultrasonic clean. For me to then charge them £80 for shipping isn't going to happen.
 
I've had a good look but cannot find anything suitable.

I send a lot of luxury watches in the post as I am a Watchmaker and I'm trying to find a company that will insure watches more than Royal Mail's Special Delivery which is £2500 at a cost of £9.95.

Can anyone recommend or suggest a company? Anything greater than that would be a help. Surely there is a company that does this!

Email me- [email protected]

I will sort you out.
 
It's the fact a lot of my customers are paying £45 for a battery and reseal and ultrasonic clean. For me to then charge them £80 for shipping isn't going to happen.

Ah sorry I assumed you were just selling them, hadn't considered the maintenance jobs.
 
I sent a watch to USA via UPS to be repaired - Got to their depot and had to open parcel just so they could see it wasn't a bomb - then we had to scrounge around for packaging and tape - insured it for £1k and it cost me £73 - It was sent back by Fedex insured for £1k for £46 - I got stuffed $20 US import tax and £50 for VAT and handling by Fedex - At end of day it was still cheaper than getting it done in UK.

Dave

Dave
 
I sent a watch to USA via UPS to be repaired - Got to their depot and had to open parcel just so they could see it wasn't a bomb - then we had to scrounge around for packaging and tape - insured it for £1k and it cost me £73 - It was sent back by Fedex insured for £1k for £46 - I got stuffed $20 US import tax and £50 for VAT and handling by Fedex - At end of day it was still cheaper than getting it done in UK.

Dave

Dave

Someone should have done the customs paperwork properly, you shouldn't have had to pay to get a repaired item back.
 
Then why not just stipulate carrier is at their choice and it will be sent back the same way?
If they weren't fussed and sent it that way then why not send it back that way?
 
RMSD will cover you for an item worth £2500. If the item is worth more than £2500 and you try to claim the £2500 back in the event of loss or damage you won't get any of it back because the item was not insured correctly in the first place.

Basically be prepared to have your pants pulled down because insurance for anything over £2500 is a lot of money.

Your best bet is to sign up to Parcel Pro; this is how most people in the hobby of luxury watches insure their post.
 
Then why not just stipulate carrier is at their choice and it will be sent back the same way?
If they weren't fussed and sent it that way then why not send it back that way?

Interesting thought. I've never had an issue with RMSD I just want to offer the best service for the customer. I have had a watch come to me via 1st class and it was worth 3K! I certainly wouldn't be returning it this way though!

RMSD will cover you for an item worth £2500. If the item is worth more than £2500 and you try to claim the £2500 back in the event of loss or damage you won't get any of it back because the item was not insured correctly in the first place.

Basically be prepared to have your pants pulled down because insurance for anything over £2500 is a lot of money.

I always declare £2500. Do you think they would refuse compensation on a watch that was worth more even though I declared £2500? These watches are second hand and the price is very much dependant on the condition not just the make and model.
 
Someone should have done the customs paperwork properly, you shouldn't have had to pay to get a repaired item back.

Customer's responsibility to declare on the commercial invoice that it was a temporary export when it was sent out.
 
If you do this regularly why not look at overall insurance for goods in transit with a 3rd party?

We have a yearly policy for this which covers up to £45,000 per consignment and only costs around £800 per year.
 
I've had a good look but cannot find anything suitable.

I send a lot of luxury watches in the post as I am a Watchmaker and I'm trying to find a company that will insure watches more than Royal Mail's Special Delivery which is £2500 at a cost of £9.95.

Can anyone recommend or suggest a company? Anything greater than that would be a help. Surely there is a company that does this!

Royal Mail Special Delivery Guaranteed™ Basic compensation for actual loss: Up to £50 for the Royal Mail Special Delivery Guaranteed by 9am™ service and £500 for the Royal Mail Special Delivery Guaranteed by 1pm™service or the market value whichever is the lower and the fee repaid.

Evidence of posting is required. Claims must be submitted within 80 calendar days of posting.

Consequential Loss for up to £10,000 is available to purchase at the time of posting at an additional cost. Evidence of Consequential Loss purchase is required. Claims must be submitted within 14 days of posting.
 
Consequential loss means if they lose the item you get the value of the item back up to a £10k limit. You pay an extra fee when sending the item for this. You provide proof of postage and proof of item's value.
 
RMSD will cover you for an item worth £2500. If the item is worth more than £2500 and you try to claim the £2500 back in the event of loss or damage you won't get any of it back because the item was not insured correctly in the first place.

Seriously? Do you have some examples of them doing this to people - seems a bit off in principle as you've paid for coverage up to 2.5k and you're claiming 2.5k the fact something is actually worth say 4k shouldn't matter. Unless there is some way of a thief knowing the item is worth over 2.5k then royal mail are taking on the same risk as if you sent a 2.5k watch... ergo I don't see the justification.
 
It's on their website:

Sometimes the damage, delay or loss of an item can lead to greater loss than the actual value of the item itself. For such items you can buy our consequential loss cover of up to £10,000. This cover could be a wise choice for important legal documents or tax returns that may result in penalties if lost or not delivered on time. Just ask for consequential loss when you send your item by Special Delivery Guaranteed™. Make your compensation claims through our Customer Services within 14 days of posting. You’ll need to include the receipt for purchase in order to file the claim

It's a different product. It doesn't mean you're covered to send something worth more than £2500 via Special Delivery.
 
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