Approx estimate of cost to ship an insured stone? (also,how?
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| Re: Approx estimate of cost to ship an insured stone? (also, |
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by Yssie » December 7th, 2010, 10:08 pm
is your stone insured by an outside party (JM, homeowners, etc?)
If not, ship USPS registered & insured - rates here: (domestic shipping in the US) http://www.usps.com/prices/extra-services-prices.htm it's slow and you may chew your nails off whilst you wait, but it is safe - tampering w/ usps registered mail is a federal offense. If you are insured you have another option - to ship by some overnight service (fedex) - is more expensive and fedex will not insure your goods, but JM I know does insure for shipping so you have this coverage should something happen. Sometimes I will have my vendor make up a fedex overnight shipping label for me so I don't have to worry for a week or three - but it is less secure. Businesses are able to get shipping insurance where private individuals cannot, which is why they will often fedex *to* you but instruct you to ship registered/insured USPS back to them |
| Re: Approx estimate of cost to ship an insured stone? (also, |
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yep, yssie is right, just wanted to add that when I shipped USPS registered and insured mail I put a smaller box in a larger box and stuffed it so the contents wouldn't rattle. It cost me around $35 to send a stone insured for $7500. It's a little slow but safe.
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| Re: Approx estimate of cost to ship an insured stone? (also, |
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GEMShield does NOT cover loss of item via shipping (I have called them and ask specifically when I was ready to send my first time- jewelry insurance will not cover a lost package- I don't know about JM) its at your own risk if you use anything other than USPS registered insured. USPS will cost probably about $28-$30 for around that much as I recall when I shipped something at $5000. The only way I know how to ship FEDEX is if 1) at your own risk or 2) if the vendor issues their own fedex/UPS label (they then can charge you shipping) which I have done several times before, because they have in place a third party private jewelry/shipping insurer for their company but it was for items I purchased from them directly and needed to send back.
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| Re: Approx estimate of cost to ship an insured stone? (also, |
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iluvdiamonds,
We offer our clients a fully insured Fedex Two day return label for $25. That price would include $4,000 in insurance. As said before, though, we have a special policy that covers our shipments. Best thing to do is try and see if your diamond/ring vendor can help you out on the label. USPS is safe, but very slow and not all services can be tracked. All the best, |
| Re: Approx estimate of cost to ship an insured stone? (also, |
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FedEx and UPS packags are insured to $100 automatically, but for more expensive items, you increase the declared value and buy supplemental insurance for FedEx and UPS packages. For $4000, this works out to be about $30 extra (in addition to the overnight fee -- fedex insurance rates are the same). Make sure you don't ship it on a Thursday, Friday, or Saturday so that "overnight" really means just one night in the system.
And keep in mind (GOG in particular) that some merchants are closed some weekdays, so plan for that too. |
| Re: Approx estimate of cost to ship an insured stone? (also, |
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While Fed-Ex and UPS automatically provide $100 insurance on packages, you will find that if you ask Fed-Ex directly about how much insurance they offer on jewelry, you will be surprised that "Jewelry is not covered at all, not even the $100." Unless tyou have a separate policy or use a dealer's supplied label, you cannot use Fed-Ex for gems or jewelry if you require insurance. With UPS you cannot ship an unset gemstone or diamond. Why? Who knows, but they refuse to tell anyone why. They will tell you it is "in their tariffs" whatever that means.... I suppose it means they were burnt a few times and decided to get smarter. You can safely insure jewelry with UPS but most dealers do think that Registered Mail with the USPS is the safest and we all agree it surely wins the slow race. You can use USPS Express Mail for up to a $5,000 value with insurance, but it is more costly than Registered. Registered Mail offers an insured limit of $25,000, but you are "Required" to declare the full value and to pay a handling fee for any excess value even though you will not have any insured coverage. If you fail to disclose the full value you will find you are not insured and if you do this on an ongoing basis, underdeclare value, you can lose your Registered Mail privileges for shipping completely.
David S. Atlas, GG(GIA) Sr Mbr(NAJA) ASG(AGA) My basket of services available to Pricescopers |
| Re: Approx estimate of cost to ship an insured stone? (also, |
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Wow, so much to think about. Which is the best jewelers insurance and how can i purchase it before I buy a stone?
When I walk out of there it won't be insured then. Thanks so much |
| Re: Approx estimate of cost to ship an insured stone? (also, |
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D&T that is *very* good info to know re. gemshield.
JM does insure loose/set stones for shipping, and loose stones for setting with an appraisal of the setting(s) to be used/designed, I have asked this specifically. EDIT: in the US lower 48, I don't know about Canada/Alaska/Hawaii Is there any information on what other insurers cover - chubb, etc.? iluvdiamonds - could call JM and see what they have to say www.jewelersmutual.com |