In the realm of Canadian sports collectors, stickers come off and gloves go on as a new insurance hero enters the ring. Up until now, Canadian sports card aficionados and memorabilia collectors were often left swinging in the wind when it came to safeguarding their prized assets. Standard homeowners insurance policies just didn’t understand the value of a signed puck or a rookie card. Enter NFP, a renowned casualty broker with an innovative mindset, partnering with Berkley Asset Protection. Together, they’ve unveiled a unique insurance program tailored specifically for the passionate collector of sports memorabilia, offering a robust safeguard where there once was none.
Greg Dunn, Managing Director of Personal Risk at NFP in Canada, underscored the significance of this new program, tailored for those who not only collect but cherish high-value sports memorabilia. According to Dunn, this insurance isn’t just an additional policy—it’s a game-changer. It’s structured to offer seamless protection from the moment a collector acquires a new item. This means that if you finally get your hands on that elusive hockey card, the newly minted piece of your collection is protected right from the word go.
What really sets this program apart is its focus on the specialized aspects of collecting sports memorabilia. It features automatic coverage for newly acquired items and includes transit coverage, which recognizes that a significant amount of risk to these collectibles occurs in transit. Whether you’re shipping a vintage jersey or transporting it back home from an auction, the journey won’t be fraught with anxiety.
Diving deeper into the specifics, Olivia Cinqmars-Viau, AVP of fine art underwriting at Berkley Asset Protection, sprawled out some details on the bespoke nature of this policy. Tailored like a fine suit, this coverage meets the nuanced demands of a collector’s inventory, whether extensive or select, ensuring every figurative and literal corner is covered.
It’s not just corporate types in suits who are thrilled by this news. Steve Menzie, president and owner of the Sport Card & Memorabilia Expo, chimes in with substantial enthusiasm. As someone at the heart of Canada’s largest sports collectibles show, Menzie knows the collector’s psyche intimately. He trails the line between the sentimental attachment collectors hold for these items and the stark financial reality of their worth. Through his lens, this partnership between NFP and Berkley does not merely offer an insurance policy—it provides essential serenity that these personal treasures, often irreplaceable, are recognized for both their sentimental and financial value.
Moreover, attending the upcoming Sport Card & Memorabilia Expo from April 25-28 in Toronto? If so, you’re in for a treat. NFP’s Personal Risk team plans to take center stage, outlining the various palpable benefits of their novel insurance scheme. Collectors are in for a detailed breakdown of how this new insurance can be the shield to their financial sword, guarding fervently against unforeseen loss or damage.
Why such an emphasis on a dedicated insurance solution? NFP’s efforts to roll out this specialized insurance program illustrate their broader commitment to acknowledging and addressing the unique needs of niche collectors. Operating with over 1,000 staff in Canada and boasting a global presence with more than 8,000 employees, NFP’s venture into the world of sports memorabilia insurance mirrors a deeper understanding of collector needs and market gaps.
In the often underestimated yet fiercely passionate world of sports collectibles, securing an asset extends far beyond physical storage and handling. The introduction of this targeted insurance program by NFP and Berkley marks a pivotal step towards recognizing and preserving the intrinsic and extrinsic value of sports collectibles. For collectors, it flips the script from crossing fingers against potential mishaps, to holding a policy that acts as a goalkeeper for their investments, ensuring that the sentimental and financial values are both armour-plated and admired.
