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Insurance Company Offering eBay Insurance







Insurance Company Offering eBay
Insurance

Insurance Company Offering eBay
Insurance
11/17/2003 04:17 AM

Everyone has heard about various eBay scams, and it's making people increasingly nervous to buy or sell products on the site. So, along comes an insurance company to try to help alleviate some of the problems. They're offering a form of eBay insurance, though it might not work the way you would expect. It's targeted at eBay power sellers who are willing to give up a small percentage of each sale for the right to display a "BuySafe" logo. The logo is supposed to link to a site that will verify that the logo has been approved. The insurance company (Hartford) then insures that the buyer will either receive the good - or the money they paid for the good will be returned. Of course, they'll only handle claims that occur within 30 days of the sale, so if the seller keeps telling you to hang on a little while longer, you might be out of luck. Also, eBay offers their own service like this, but the fine print is a killer. While the service promises to refund up to $1,000, it isn't $1,000 per purchase, but $1,000 per seller. So, if (as did happen) a seller with such a logo scams people out of a million dollars, the company would split $1,000 among all the victims. Not particularly comforting.




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