From: Larry Colen
The discussio a couple weeks back about shipping jewelry got me to
thinking. When you insure jewelry that you're shipping, do they
verify the value?
It seems to me that you could buy some costume jewelry, insure it for
$5000, ship it back and forth across the country a few times and
collect the insurance.
If enough people did this, the shippers would be motivated to crack
down on theft, but they'd probably just raise the insurance rates.
I believe you have to be able to "prove" the value of the lost/stolen
shipment in order to collect. You can insure for more than the item is
worth, but the insurance will only pay off what it actually is worth.
Still, you could probably do it, but it would be more work than just
mailing it back and forth.
And USPS don't play. They go after mail fraud in a big way.
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