For $10 commissions? no, insurance is not worth it. Do a high res scan and archive it on your computer. If it goes MIA, you can offer to send the commissioner a replacement print of item.
For more expensive items... it's really a crap shoot on whether insurance is worthwhile. It generally does force you to use a more expensive mailing service to even get insurance in the first place and then you have to deal with the claim. Your claim may take months to resolve.
make a high res scan of every item you can. If lost, you can then always offer a replacement print. It's not the same, but it's really the best you can do.
As heartbreaking as it is, assume items WILL be lost or damaged and you will NOT be compensated for the loss. (since the judgement on insurance may go against you) price accordingly to take X amount of loss.
I generally assume around 1% of my shipments will be lost or damaged. I can usually replace items, so not as big an issue for me, other than the cost of replacement and postage. For one of a kind items, you may want to build in a bigger "planned loss". I'd say 5-10% might be more realistic for you.
adjust your prices to reflect that assumed loss. If you don't have anything lost, GREAT, it's profit! If you do, since you already accounted for it, you should be fine.
it'll be depressing as hell when it happens and eats up time resolving the issue. but you can plan ahead on the financial side so it doesn't wipe out your profits.
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timeasmymeasure
no subject
Date: 2011-09-19 05:02 am (UTC)For more expensive items... it's really a crap shoot on whether insurance is worthwhile. It generally does force you to use a more expensive mailing service to even get insurance in the first place and then you have to deal with the claim. Your claim may take months to resolve.
make a high res scan of every item you can. If lost, you can then always offer a replacement print. It's not the same, but it's really the best you can do.
As heartbreaking as it is, assume items WILL be lost or damaged and you will NOT be compensated for the loss. (since the judgement on insurance may go against you) price accordingly to take X amount of loss.
I generally assume around 1% of my shipments will be lost or damaged. I can usually replace items, so not as big an issue for me, other than the cost of replacement and postage. For one of a kind items, you may want to build in a bigger "planned loss". I'd say 5-10% might be more realistic for you.
adjust your prices to reflect that assumed loss. If you don't have anything lost, GREAT, it's profit! If you do, since you already accounted for it, you should be fine.
it'll be depressing as hell when it happens and eats up time resolving the issue. but you can plan ahead on the financial side so it doesn't wipe out your profits.