Source: Vertical Insure

In a world where unique items like sneakers, comic books, trading cards, and watches are becoming increasingly valuable, protecting these investments has never been more crucial.

At first glance, standard insurance might seem like it covers everything, but when it comes to high-value or specialized items, there are pretty significant gaps. Here’s how insurance built specifically for collectibles differs from a homeowners insurance policy and most major shipping insurance options.

Coverage Limits
Standard insurance policies typically have limits on high-value items. These policies may only cover up to a certain dollar amount per category, regardless of the actual value of your collection. For example, you might have a $1,500 limit for sports memorabilia, which won’t go far if your collection is worth significantly more.

Collectibles insurance, on the other hand, is designed to cover the full appraised value of your unique items. Whether you own a rare comic book or a limited edition pair of sneakers, specialized policies ensure your collectibles are protected based on their market value, not an arbitrary coverage cap.

Embedding insurance directly into a marketplace allows for an effortless customer experience. Rather than requiring users to seek out third-party insurance providers, customers can purchase coverage for their collectibles with just a few clicks during the transaction process.

The offer looks and feels native to the platform, so there’s no disruption to the user experience or interface. It’s simply one additional checkbox before they hit “purchase,” keeping customers in your platform instead of adding a pop-out window or external link.

Read the full article: https://verticalinsure.com/collectibles-insurance-coverage-built-for-virtual-marketplaces/