Insurance Policy
This Insurance Policy explains how Prisma Grading Company applies shipment-related insurance and loss handling to items submitted for grading and items returned after service completion.
1. Scope of Insurance Handling
Insurance handling under Prisma services applies primarily to return shipments dispatched by Prisma after completion of grading and payment clearance. Coverage, if any, is limited by carrier terms, policy limits, declared value rules, operational documentation, and the service level applied to the shipment.
2. Declared Value Requirement
The customer’s declared value is a core basis for shipment handling and any related insurance administration. Prisma may rely on the submitted declared value unless Prisma determines that the declaration is materially inaccurate or requires correction for service assignment purposes.
3. Transit to Prisma
Insurance for inbound shipments to Prisma is the responsibility of the customer. Prisma is not responsible for loss or damage occurring before confirmed delivery to Prisma’s intake location.
4. Return Shipment Coverage
Where Prisma arranges return shipment, coverage may be applied in accordance with the declared value, carrier availability, carrier limitations, and Prisma’s internal shipment procedures. Coverage is not unlimited and may be capped by actual carrier or insurer conditions.
5. Exclusions
Insurance-related recovery may be reduced, denied, or unavailable in situations including but not limited to:
- incorrect or understated declared value;
- incorrect shipping address provided by the customer;
- customs seizure, legal restriction, or regulatory hold;
- events excluded by carrier or insurer terms;
- insufficient customer documentation supporting claimed value;
- damage resulting from the customer’s original inbound packaging.
6. Claim Process
If a return shipment appears lost or materially damaged, the customer must notify Prisma promptly and provide all requested supporting information, including shipment identifiers, photographs where applicable, declaration records, and any communication received from the carrier.
7. Investigation and Documentation
Prisma may require time to investigate shipment incidents with carriers, insurers, and operational records. No payment, refund, or settlement obligation arises until Prisma has had reasonable opportunity to review the matter and determine the extent of any recoverable claim.
8. Maximum Recovery
Any recovery relating to insured return shipment loss or damage shall not exceed the lower of:
- the customer’s accepted declared value,
- the amount actually recoverable from the carrier or insurer, or
- the maximum liability permitted under Prisma’s Terms of Service.
9. No Market Guarantee
Insurance handling does not guarantee compensation for hypothetical market movement, auction premium, speculative appreciation, sentimental value, or future resale expectations.
10. Carrier Limitations
Prisma may be required to follow the evidence, investigation timelines, and documentation standards of shipping carriers or insurance providers. Delays caused by those external processes are outside Prisma’s direct control.
11. Contact
Questions regarding shipping-related insurance, declared value handling, or shipment loss procedures may be directed to Prisma through the official contact details published on this website.