Last week I sent 4 packages out USPS priority, insured and signature required. Two of the packages were valued in the $7K to $8K range. The maximum value that USPS will allow for priority is $5000 but I figured I could self insure that much. That resolve was tested when I found that the USPS just left the supposedly signature required 30 pound heavy silver package on a front porch.
Today I sent a package valued at $20K, well past my "self insure" limit, so I sent it USPS Registered and insured for the full value. Based on my $5K insurance premiums, I expected the total shipping cost to be around $300. It was $64. I'm guessing the greatly lower insurance rate is an expression of the loss probability.
I think I've sent my last multi $K package flat rate priority, insured. I'll probably risk $1,000 and below but any higher and it's nothing but registered.
Today I sent a package valued at $20K, well past my "self insure" limit, so I sent it USPS Registered and insured for the full value. Based on my $5K insurance premiums, I expected the total shipping cost to be around $300. It was $64. I'm guessing the greatly lower insurance rate is an expression of the loss probability.
I think I've sent my last multi $K package flat rate priority, insured. I'll probably risk $1,000 and below but any higher and it's nothing but registered.