In the realm of hobbyists and collectors, the thrill of adding a rare sports card or a piece of historic memorabilia to a personal collection is unparalleled. However, the joy of these acquisitions often comes with a side of worry about the safety and security of these valuable items. Recognizing this concern, NFP, a leading property and casualty broker in Canada, has rolled out a new insurance program specifically designed for sports memorabilia collectors. This initiative, crafted in collaboration with Berkley Asset Protection, seeks to fill the void left by standard homeowners insurance policies, which typically fall short of covering these niche collectibles adequately.
Greg Dunn, the Managing Director of Personal Risk at NFP in Canada, shed light on the critical nature of this insurance program. With the sports memorabilia market booming and collectors investing hefty sums in rare items, the risk of insufficient coverage looms large. Dunn emphasized that the new offering from NFP not only bridges these coverage gaps but also instills a sense of relief among collectors from the moment they acquire a new piece. Imagine snagging a vintage hockey card or a signed baseball bat and having peace of mind right from the get-go—that’s what NFP promises with its tailored solution.
Further enhancing the attractiveness of this program is its proactive approach to coverage. One standout feature is the automatic coverage for new acquisitions. Picture this: you’re at an auction, you place the winning bid on a coveted piece of sports history, and even before the gavel hits the block marking the sale, your new treasure is already insured. Additionally, the program covers items in transit, ensuring that they are protected not only when they sit proudly on display in your home but also while moving from the seller to your doorstep.
Olivia Cinqmars-Viau, the AVP of fine art underwriting at Berkley Asset Protection, elaborates on the customized nature of this insurance solution. The program is designed from the ground up with collectors in mind, tailor-made to cover the nuances and specific needs of sports memorabilia enthusiasts. This is not a one-size-fits-all kind of deal; it’s more like a bespoke suit, carefully fitted to provide comprehensive protection for those special collectibles.
The initiative has also received a nod of approval from within the collector’s community. Steve Menzie, president and owner of the Sport Card & Memorabilia Expo, Canada’s most significant sports collectibles show, voiced his support for NFP’s new program. Menzie highlighted a common sentiment among collectors—their collections are often viewed as priceless on a sentimental level, yet the financial value is substantial and frequently overlooked in terms of protection. This partnership between NFP and Berkley directly addresses this oversight, reinforcing the financial safeguarding of these prized assets.
NFP seems poised to make a significant splash with its new insurance offering at the upcoming Sport Card & Memorabilia Expo in Toronto. From April 25-28, the NFP Personal Risk team will be on hand to showcase the benefits of this unique insurance program. The company’s commitment to the collector community is evident, not just in this product launch but in its overall operations, employing over 1,000 staff in Canada and extending their services globally with a workforce of more than 8,000. This broad base of operations underscores NFP’s capability and dedication to providing specialized solutions to niche markets, including the intricate world of sports memorabilia collecting.
To all the sports memorabilia enthusiasts out there—gone are the days of fretting over the security of your precious collections. With NFP’s new tailored insurance program, it’s time to collect with confidence, secure in the knowledge that your valuable investment is protected against the unforeseen. Whether it’s a baseball signed by Babe Ruth or a Wayne Gretzky rookie card, rest assured, NFP has got your back. Collect on, Canada!
