sometimes...if i only buy 1 item for myself...but the risk is if gone, gone 100%

by the way, nothing new at LLM :-p

i think insurance cost is not bery significant, sometime want to under declare just to avoid custom tax

This post has been edited by bloodghost: Aug 30 2013, 01:37 PM

can help me to understand this insurance thingy. SO let say i purchase 1k stuff and i insure 500 so my totally cost for my purchase is 1.5k? or how does it work?

Sorry i noob neva buy things from oversea b4. hehe

I always order with insurance, unless insurance is not available. e.g letter mail for minifigs or small parcels

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better be wise not to mention that

but some country the insurance really expensive...

insure 500? the policy means insure up to 500 is it? insurance so expensive?

ok...is like this...you buy 1k stuff...insurance cost eg. RM10 can insure your claim up to 500..then if lost, you can claim max 500 but depend on how much you declare also

This post has been edited by Chaud: Aug 30 2013, 02:09 PM

Nice! i like the close up shot!

ok got it. so it's depends on my declaration. it will charge the insurance accordingly la?

how insurances are charge im not too sure...some standard price some are percentage

okok got it. thx alot for explaining.

Let's say 1k stuff. Let's say insured amount is 1k, the premium need to pay is 20.
If insured amount is reduced to 500, the premium need to pay is 10.

So, some think want to save the extra 10, and take risk.

What risk ?

The risk is, if you declare and insured 1k, and the item lost, insurance will pay you 1k from the 20 you pay for premium.

If you declare and insured 500 (although you know you pay 1k), and item lost, insurance pay 500 only (from the 10 your pay for premium)

If you declare 1k and insured 500, and item lost, insurance still pay you 500 only (from the 10 your pay for premium)

If you declare 1k and insure 500, nothing lost, you save the extra 10.
If you declare 1k and don't insure anything at all, you save 20 . . .

Un ?

u all know about this already, correct?
me slowpoke

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hahaha. got it got it. thx alotz.

can i declare 500 insure 1000

still maximum you can claim is 500 only

Thanks for the info. Will go hunting tomorrow

Yes, you can. In insurance term, it is called over-insure.

In your case, if lost, insurance pay 500 only (based on declared amount).

I think the problem here is not about insurance cost is tax. The insurance cost is not expensive, the killing part is tax.. If you declare 500 no tax, but if 1k kena 10% tax.

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