Have the Insurance Rates been updated??

To my knowledge, there's not a planned rate hike for U-PIC. Hope not, at least...

Really biscuit?! That would be surprising as the USPS insurance rates jumped from $1.35 to $1.65 ($50) and an additional .40 each increment thereafter.

That would be GREAT if Auctiva/U-Pic didn't raise their rates! Then we would make a lot more on insurance kickbacks - from .05 up to .60 for the $50 interval and so on.

I would imagine that it's "coming" (the rate hikes that is)....but I'd just like to know when. Especially if I'm doing re-lists via feebay and inputing the insurance rates in myself; I'd hate to continue putting in the $1.30 amount only have it be higher once people go to check out!

I would think that if/when they do go up, the checkout process will show the most current rates....I'm just preparing for that "wonderful" ebayer who will cry that I misquoted them in the listing and "complain" of false advertising or changing the rates on them once they go to check out! We all know how "wonderful" it is to have that "stickler" of an ebayer who wants their $100 item for .50!!! LOL

Thanks for the reply though!

Cheers,
Kathleen

Live chat with U-PIC (dave is me):

quote:

dave:
Hi, just a quick question...

USPS has raised their rates for shipping insurance, and was just wondering if you had plans to follow suit.

Thanks

Customer Support 1:
Hello Dave,
One moment while I bring the appropriate person in to answer this for you.

dave:
Thanks

Customer Support 1:
Ok, Sorry about the wait. Currently I am being told that nothing is being changed as of yet and I am not sure if it will be due to the rate increase that USPS has issued.

dave:
OK, I appreciate the response. Thanks again.

well YAY! so does that mean we get the larger "profit" amount then?! i hope so!!

or.....is auctiva/u-pic going to charge our customers the "old insurance rates" and then the profits would stay the same??

i should probably be doing a 'support ticket'...but if you know, great!

cheers,
kathleen

I don't know if Auctiva plans to raise their cut. I wouldn't actually mind - it could be done so that both sellers and Auctiva got a bigger cut. Would be good for both Auctiva and us.

We'll change the rates to reflect the new USPS rates. Our rate will probably increase a little as well but the percent you'd receive would go up most likely.

Are buyers going to continue purchasing insurance at the same pace with the new higher rates? An increase from $1.35 to $1.65 seems pretty steep to me on a $50 item or less. I guess the post office thinks they'll make more that way. They may lose a few sales but will make more overall from the higher price?

If we do this we'll have to keep a close eye on how sales are affected. We should be able to pass on at least a little of the increase back to the seller I'd think though.