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#1
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Introducing The Concept of Grading Insurance
Posted By: bruce dorskind
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#2
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Introducing The Concept of Grading Insurance
Posted By: barrysloate
Bruce- that is actually a really good idea. But clearly there would be hurdles to overcome: |
#3
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Introducing The Concept of Grading Insurance
Posted By: Joann
Now there's some innovative thinking. Off the top of my head though, why wouldn't the grading companies purchase this insurance as part of their regular business? Like malpractice or liability insurance. They reimburse the buyer, and the insurance company reimburses them. |
#4
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Introducing The Concept of Grading Insurance
Posted By: jackgoodman
My initial reaction to the above was when I read this statement: "...within a three year time period it is discovered that the card had been altered..." |
#5
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Introducing The Concept of Grading Insurance
Posted By: barrysloate
Jack- everyone's worst fear about insurance is that the insurance company understands the intricacies and loopholes of a policy better than we do, and if we ever find ourselves in a position where we have to make a claim, they will find a reason why it doesn't apply. You know the old joke about fire and theft insurance: you only collect if you have a fire and are robbed at the same time! |
#6
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Introducing The Concept of Grading Insurance
Posted By: jackgoodman
Barry you're right. Gotten so I get depressed everytime I get my renewal policy because I know there are new exclusions and changes that I have no chance of understanding. Living on the West Coast, the joke is that if your home suffers major damage in an earthquake (and you didn't have earthquake insurance), better hurry and set it on fire, because fire is covered. |
#7
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Introducing The Concept of Grading Insurance
Posted By: Griffin's
Forgive my ignorance on insurance matters, since my only experience is writing checks for premiums. But I would think that before an underwriter took on a policy like this they would want to assess their risk and exposure, correct? And in doing so they would need to find out how often cards were bought back, and need the cooperation of the grading companies to do that. |
#8
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Introducing The Concept of Grading Insurance
Posted By: MikeU
You already get this insurance for free from SGC with their guarantee? I am a little confused. Isn't PSA the only company that does not back their product and due to their market share, consumers take this on the chin? |
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