Ep.279 w/ Dan Lorber of Stadium Insurance "How to protect your collection"

SPEAKER 1: This is Sports Card Nation.

SPEAKER 2: What is up everybody? Welcome to episode 279 of Sports Card Nation. If you're listening to this, you survived the eclipse. Congratulations, glad you did. Glad you're here joining us on today's show.

SPEAKER 2: And if you're anything like me, right? You send cards, you receive cards in the mail, you buy cards you have at your house. It can be all, varies of value, right? It could be from a quarter all the way up to four or five, maybe even six figures, or even more. Right?

SPEAKER 2: And, you know, I always on Social Media on the show, I talk about the importance of insurance and having coverage and when you're mailing stuff, having coverage to cover worst case scenarios, right? A lot of people add a rider onto their home insurance policies with like Allstate and Geico and, and things like that. But those are not really, really adequate.

SPEAKER 2: With cards, those companies don't know what cards go for, they're gonna fight you on the claim and you know, say they're not gonna pay that because they don't know what condition it is. It's, it's a hassle, right? And we're gonna have a gentleman on the show today, Dan Laver of Stadium Insurance.

SPEAKER 2: And, I can't stress enough. I'm not a customer at this point of Stadium Insurance. I do have another company that I use. But I probably will switch over to Stadium. And you'll hear why, during the interview. But, we're gonna talk hobby too. It's not gonna be all just about insurance. We're gonna talk about hobby and, and tips when sending and receiving and things like that.

SPEAKER 2: So, very informational show today. I think you'll, if I may be so bold, I think you'll learn a, a few things even I did. And so, so, I think you'll, I think you'll take some stuff away. So, enough teasing. Let's take a quick commercial and then we'll get the show started with Dan Lorber of Stadium Insurance.

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SPEAKER 2: All right. Real happy to talk to the next gentleman on the sports card shop, guest line. He has started a new company which I, we're gonna talk about which is very vital to the hobby.

SPEAKER 2: And we all love and I think it's something people need to know more about. I think sometimes people are intimidated, by things but they don't know, kind of the full, background or the story and we're gonna talk about that. He's also a collector as well. But, welcome Dan Laver of Stadium Insurance.

SPEAKER 4: Hey, good morning John. Good to, good to talk to you today.

SPEAKER 2: Yeah. And we're, and we're definitely gonna get into the insurance aspect of the hobby. I know sometimes, you know, we talk a little bit before we started, the show today. You know, I think sometimes people don't know all the ins and outs or intimidated. They don't know that it's not as difficult.

SPEAKER 2: I think they think it's more difficult getting, you know, insurance on, on your collection than it actually is. And we're gonna, we're gonna talk about that, but one thing I love with you is not only are you the, the owner of the company, but you're a collector yourself. So, you, you're wearing both of those hats. I think there's something to be said when someone knows both sides of the table.

SPEAKER 2: I think that they, you know, they're more apt to be friendly to both aspects whether when it's just, hey, I don't know much about collecting, but here's the, the service, we offer, I think, there's a difference, in that. So I guess we'll start off there. Kind of. Well, what you collect kind of when it started for you and, and that sort of thing.

SPEAKER 4: Yeah, John. So I've been collecting for about 30 years. 3035 years started out in cards. Grew up in the, the junk wax era. Like everybody else collected, collected a ton of cards and then became an autograph chaser, collected autographs and then moved into game use memorabilia. So I collect a lot of game use memorabilia tickets, type one photos, kind of run the whole gamut.

SPEAKER 4: I'm here on the west coast. I'm a big, San Francisco Giants fan. San Francisco 49Er fan. So, you know, collecting is, is a passion of mine and, just, you know, really into the hobby and you go to the National and all the major shows. So, really, really love collecting.

SPEAKER 2: And, yeah, you mentioned tickets, tickets is something I've started to, to dabble in. II, I don't wanna make this show all about tickets, but tickets to me is really sort of an unvalued, under value. You'd niche. I, I think when you think about tickets, there's a lot less when we think about tickets versus cards.

SPEAKER 2: Tickets really were especially, back in the day, we just really viewed as vessels to get into the Stadium, the arena, the field to watch the game. They just get crumpled up in a pocket.

SPEAKER 2: A lot of times, tossed out a a as someone leaving the game after, after the game was over or you get home, you empty your pockets, the ticket, I throw it out. I've already attended the game and so many of them don't, a small percentage survive and then we can, you know, conditions a whole another, episode, right?

SPEAKER 2: And so I try to pick them up. I think more people are kind of, the light bulbs are going on and, and, and putting the same synopsis I have together like, hey, these are, these are in a way rarer than cards cause they weren't viewed as collectibles at the time where they are obviously more so now and so many didn't survive.

SPEAKER 2: Many are in landfills. Many are in bad shape even if they did survive because they were kind of crumpled up, thrown in maybe a a box to be forgotten about. And then, you know, so il I love the ticket aspect. They did a whole episode.

SPEAKER 2: And, and you're seeing even people that their, their collection really is tickets and not even so much into the cards, but they collect tickets and you go, like you mentioned the National, you go to the National and you can see a few people set up and their, their inventory is just graded tickets or, or even raw tickets or, or a combination of the two.

SPEAKER 2: So I think that's a market that's, that's growing literally as we speak, you know, type one photos and another one that's exploded, on, especially on the auction side and, and, you know, just as well as I had. No Dan, the values of some of these, especially the, the rarer or more demand, ones, you know, are, are set in auction records and in many cases.

SPEAKER 2: So, you know, we, you know, when we think about our collections, right, whether you're collecting for the financial aspect or not, right? There's incentive value just kind of built in, especially if you collect it for any length of time. Not that time is the only reason. But the more and I think when, you know, we're gonna get into the struggle with Stadium, you come from insured background.

SPEAKER 2: But II, I think people think it's a lot more difficult than it actually is.

SPEAKER 2: So kind of talk about your, your insurance background and the idea to launch a Stadium and, and why and all that.

SPEAKER 4: Yes, I've been in the insurance industry for about 30 years. I was an insurance agent for about 15 years and then I was an insurance broker and I worked in the high net worth space with professional athletes and entertainers, which was a lot of fun.

SPEAKER 4: And then, as I have amassed this huge collection and I've dealt with other collectors in the space I realized there wasn't there, there's a misunderstanding that insurance, you know, that these collectibles were covered under your homeowners insurance and there was really a gap there. For one, a lot of home homeowners insurance policies have what we call a sublimit where it may only be 500 to $1000 of coverage.

SPEAKER 4: There's a deductible, a high deductible typically involved and the bottom line is you don't want to put a claim in on your homeowners insurance. It affects the premium for one and if you file a claim, it could affect the renewability of your homeowners insurance. So what we did is we built a affordable and simple to use product that was designed for the modern day collector.

SPEAKER 4: Basically, you can, you could go to our website or download our mobile app. You put in what the value of your collection is. And then, we identify high value items which are items that exceed 10% of your total coverage limit.

SPEAKER 4: And with those particular items that are identified as high-value items, we ask that you simply download the mobile app, take a picture of the front and back of those items and any authentication and we'll catalog those in the mobile app. In this way. If there's a loss, there's no, there's no gray area.

SPEAKER 4: We know exactly what you had. It's cataloged in the mobile app, for the items that aren't high value, we just ask that you either keep photos on your phone or a video or a spreadsheet. We just made the process extremely simple. And you know, you could choose deductibles starting at 0 500 or 1000 depending on what your budget is.

SPEAKER 4: But it's really designed to protect the collectors and make sure you have that coverage for your collection because as you said, you know, whether we're doing this for financial reasons or we're just collecting, the truth is, is that these things do have substantial value and if something was to happen, you know, you want to be compensated where, you know, the, the hurt isn't as bad.

SPEAKER 4: You know, if something was to happen and you can actually go out and, and repurchase these items that you own.

SPEAKER 2: Yeah, and, and, and in some cases, Dan, you know, some of these will be hard to reacquire if you're gonna lose that. I, you know, whatever be, whether it be fire or theft or, or some other way, right? If you can't replace them, you at least want to be sort of financially recovered.

SPEAKER 2: It's still gonna be sad if you can't replace the actual item, but at least you'll be double sad. Right? Not only did you lose your item but I had no insurance and so I'm out the item and financially I have recouped nothing. On top of that, that's AAA double whammy.

SPEAKER 2: An aspect you mentioned, I wanna kind of piggyback off too, with, with homeowners insurance, right? I do have a collectibles policy now. Full transparency. It's not with Stadium. So I'm not shilling not with Stadium yet. Let me use the word yet. Ok, I won't mention who it's with.

SPEAKER 2: I might have mentioned it in the past but I won't mention it on this episode. But let's go back like with homeowners like your, your farmers or all state or, or, you know, that, that cover your home. These companies are not, you know, familiar, on a, on a real specific level with the sports car to memorabilia.

SPEAKER 2: So you can, you can add a rider, but it's not the same as going with a collectibles insurance where that's where it's geared towards. Right. You know, car insurance is, is geared to matters pertaining to cars, and accidents and, and, and, you know, liability and that sort of thing, your homeowners policy.

SPEAKER 2: And now, now I used to have it, as a writer on my homeowners policy, that those days are gone, but I never had to file a claim, but I've heard stories from other people who have tried to file a claim through their homeowners towards, cards and it's just a nightmare of red tape and them trying to explain what was lost and, and the person on the other end of that conversation doesn't understand that.

SPEAKER 2: And in their defense, we really can't expect them to, they're, they're, you know, an insurance agent deal with house issues and furnaces and water heaters and, you know, fire and, and, you know, things like that burglary, but not specifically with cars. So they're, someone's telling them, you know, my Mickey Mantle rookie got stolen and they're like, you know, they have no clue where to start and where to begin.

SPEAKER 2: And a lot of times you hear these, these mainstream, insurance companies really trying to fight paying it or not wanting to give really what, what the value is or they don't even know where to start. How do we know, you know, a lot of times they'll look up a cop or something. It's from, you know, 10 years ago and they say, hey, here's, here's all we could and that cop may be significantly more.

SPEAKER 2: So there's a, you know, homeowners, I always tell people when, when it gets asked to me, Dan is, I guess it's better than nothing but it's, if, if, if you have a collection of any kind of ill, you're better off having from, a collectibles insurance such as a Stadium because you, you know, you're in that space, you know, you know, where to go, you know, how the process works.

SPEAKER 2: Where, you know, a homeowners policy. They, they don't have, you know, the, the, it's not geared really, for that and, and, and that's in their defense. Right? And so there's gonna be a lot of gray area, more gray area going that route than with Stadium. I mean, would, would you agree.

SPEAKER 4: Yeah. So the last thing you wanna do is if there's a loss and, and you know, something happens, you're upset as it is. The last thing you wanna do is be arguing o over the value of items.

SPEAKER 4: And so a lot of these insurance companies, they don't know the difference between A PS A seven and A PS A 10 or, or a game used item versus a games issued I item or whether it's photo matched or not, photo matched. This is run by collectors and owned by collectors. So we understand the market.

SPEAKER 4: So if there's a loss, you know, we wanna pay you what you're entitled to what the actual cash value of that item is at the time of the loss. And as we know in this industry, these prices fluctuate. So if there's a loss, we will pay what that item is worth at the time of the loss.

SPEAKER 4: So if it's fluctuated or if it's decreased in value, with all the tools we have at our it, we have access to nowadays whether it's, you know, card ladder or other other instruments in the industry, We're able to come up with comps just like when we're purchasing items, we use comps and when we, when we're buying items in this space.

SPEAKER 4: So we keep that conversation fluid and we know these prices change quite a bit, but the product does pay based on actual cash value what the item is worth at the time of the loss.

SPEAKER 2: Yeah, that's a great point. And I've heard people say, well, you know, I paid $5000 for it and, you know, when whatever incident happened, you know, it was 2500, but I paid 5000. Well, that's the chance you take. Right. It's like buying stocks. Right. Sometimes you buy a stock and, you know, you buy apple early, you're, you're smiling as long as you didn't sell too soon, right?

SPEAKER 2: You buy another stock and it doesn't do as well. That's the, that's the risk and, and chance you, you take and I've heard people kind of nit pick about that and that's a double edged sword. It works the other way, right?

SPEAKER 2: Maybe you bought it for 50 bucks and it's worth 1000. You're gonna get 1000 now, you know, insurance company is not, you're not gonna say, hey, you, we're only gonna pay you 50 because that's what you paid. You don't actually really necessary.

SPEAKER 2: You don't know that cause you're, you're only dealing with what the, at the time of, of what the market price is. So I don't have any like I, I, that's the way to me that's the way it really should be. But I've heard, I've heard others say, well, well, that's, you know, you're gonna get what it's worth.

SPEAKER 2: Like you, you know, if you're selling your, you know, when you're selling your car, right? As a blue book value. You can't say, well, I bought it, you know, three years ago for 10 grand and that, now it's only worth 3500. I really like to get 10 grand. You could say that, but you're not gonna sell it. Right.

SPEAKER 2: And so, it makes sense and it's, it's, it's best for both parties and it just, that's, that's the way it needs to be. But, and, and again, that can work in your favor as well if you made some really smart purchases. And so, anyone that complains about that, I tend to think they made some bad decisions. They're just, they're probably more mad at themselves realistically.

SPEAKER 2: And they're just venting out, you know, you, you mentioned the ease of it, right? I think people think, I mean, I gotta write down every card whether it's like $1 or 50 cents to, you know, four digits or higher. And it's obviously I know this, but I, I think other people who haven't got insurance yet or, or thinking about it right.

SPEAKER 2: It's on their mind. I don't think they realize that it's really not that difficult for someone who doesn't have insurance yet. You know, some tips as, as they head that direction you mentioned, like, hey, just catalog your collection with a video that's, you know, you can set up a trip pad, a tripod, have your hands free, get out a shoebox monster box, a graded card case kind of thumb through that.

SPEAKER 2: Get that on video. That is not as difficult. I, I do that. You know, I'm a bulk over to sec, everything I send to SGC each month I video catalog. God forbid, you know, I, you know, knock on glass. I haven't had anything occur but, you know, if it was too, at least I have a video of what was sent and, and much like your own personal collection.

SPEAKER 2: Right. And once you do that too, I think it's easy too. Dan, anything new you acquire, you can just kind of take pictures, especially of significance and sort of have them on file. I have a a one key terabyte flash drive that I actually have pictures fronts and backs of my, all my significant good cards and it's on my keychain.

SPEAKER 2: So it's actually not in the house. I don't know what you think about this, but like if I had to leave the house quick, a fire. God forbid, you know, whatever, you know, meteor, I hits close to the and I got to exit. I actually have those on my flash drive on my keychain leaving.

SPEAKER 2: It's not in the house being destroyed with everything else. And that's me, that's just something that I don't know if someone told me that I just did that, but some tips I guess for, for those that are, are heading down the direction of getting collectibles insurance to make that process, easier for them and, and yourself as well.

SPEAKER 4: Yeah. No. And I mean, it's, there's as a collector, we pretty much know what we have, you know, like someone says, hey, do you have a, you know, a 1987 Flare Barry Bonds card? I know I have it. So we all pretty much know. But if, if there's a loss we just wanna make sure that, you know, you're able to remember exactly what you had. I know it, it would be difficult at that time. So we're just trying to simplify that for you.

SPEAKER 4: We only ask that you catalog in our mobile app, those high value items where you take a picture of the front and back through our our mobile app. And this way, if there's a loss, you know, settling a claim, I is quick, accurate and efficient, but anything that's not a high value item, it's good to have some kind of record somewhere of what you own and whether it's photos, a video, a spreadsheet just to refresh your memory.

SPEAKER 4: So when you do talk to that claims adjuster, you can lay out exactly what you have and, and you, and you brought up a good point, you said you're a submitter to SGC or PS AAA bulk submitter.

SPEAKER 4: A lot of people ask us, does our policy cover shipping and transit and our policy does. There is a shipping limit. It's 10% of whatever coverage limit you choose. So if you chose $100,000 policy, you would have $10,000 of coverage per shipment. That level changes based on the coverage limit that you choose.

SPEAKER 4: But we will cover those items while being shipped shipped to either a buyer. For example, if you sell something on Ebay and you ship it to a buyer, as long as you send it with tracking and signature confirmation, there would be coverage if it was stolen or it was damaged while it was being shipped.

SPEAKER 4: It, we also cover if you ship it into an authenticator or an auction house and we'll cover it while it's shipped to, whether it's P SAS GC, while it's in their care, custody and control and while they ship that back to you, it's covered through the process.

SPEAKER 4: So that way you have the peace of mind and you don't have to sit on your computer and refresh that tracking number every two seconds to make sure it got there. Ok. But typically the homeowners policy does not cover shipping in transit. So that's one thing, why you should buy a, a specific policy that deals with the collectible space.

SPEAKER 2: Yeah, that's a great point cause that the, like you said, the homeowners policy, if that's something you got or you're thinking about going that route, they're only covering what's in the house, at that time and again, they're, they're gonna, they're not, this is not the space they're, they're familiar with.

SPEAKER 2: So they, you know, they could give you grief about it. Like, how do we know? Or where's your proof? You know, where a lot of times I've heard, I had a, an acquaintance of mine try to file a claim. It was homeowners and they wanted a receipt of the purchase and, you know, he bought it 10 years ago, maybe even further back.

SPEAKER 2: And so to, he didn't have it. And so he was, he was really, there was a lot of friction there to try to get something covered. I, I actually don't know, you, I'm not, he wasn't a close friend. I don't know what the end result. But the conversation I had at that time was like, they really don't wanna cover it.

SPEAKER 2: You know, Chad. And so I don't have a receipt.

SPEAKER 2: They're saying they can't cover without that.

SPEAKER 2: They don't know that I really have that I could be, they're trying to say I could be saying I have that card and I don't, so there's a lot of push and pull there, like you said, if you're shipping or receiving any cards of significance, all the more reason to have a, a collector's or, or dealer policy, you know, form from a Stadium, insurance because it's, it's geared to that time for a quick break, but we'll be right back.

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SPEAKER 1: Car nation has returned.

SPEAKER 2: Someone said, well, you know, John, I, I, whenever I ship I always go to the U, you know, U SPS, the postal service, I tell them the insurance value. I don't, you know, and that's great. It's better than sending something un uninsured, but much like a homeowners policy. The post office is not familiar with, you know, like you said, 51 man ops A seven or it, the one man or PS A four, it's all sort of Greek to them.

SPEAKER 2: They're, who knows where they're gonna go to even look up what the value is. They can say. Well, you insured it for 10,000 and I'm just making up round numbers here. We looked at when we did our research, we're only gonna give you a 3000 for the way we figure it. So, you know, they're not familiar like you that with all the analytical tools, your, your card ladder and, and others.

SPEAKER 2: And so you know, that's the difference as well. And you know, you say PS A to some people who are not in, in the card space, they're gonna they, they're taking public service announcement. Right. And not thinking professional sports card authenticator. And so that's, that's the difference between dealing and, and going with someone who's in the space.

SPEAKER 2: And, it's just gonna be a lot less, headache.

SPEAKER 2: You know, I have a lot of cards for, when I signed up to, to get collectors insurance. It was not, it wasn't as daunting as in initially, I thought it might be a little more tricky and, and it, and it wasn't. So I think some people are a little bit intimidated by the process.

SPEAKER 2: Do you think? I mean, do you think that's the number one reason? Maybe people who should have insurance on their, on their collection, don't you think it's, that, that's, that's the main reason or, or others?

SPEAKER 4: Yeah, I think, yeah, I think there's a fear of a lot of people say, well, you know, I'm always constantly buying, selling or trading cards. I never have a set inventory of what I own. But the nice thing is what our mobile app, you can, we empower the consumer to add, remove change items on their policy at any point. It's very interactive.

SPEAKER 4: You don't have to call into an agent and say, and fax and proof that you own a card. You can basically just download the app, go in and, and you have just like listing somebody something on Ebay or Instagram or Facebook. You can add or remove items as you build your collection. So we keep it very simple and like we say, we only need you to catalog the high value items, not everything that you own.

SPEAKER 4: And then the the other misconception is that it's expensive. I mean, our basic policy for 25,000 of coverage is about $15 a month, which is which is nothing. If you ship a couple of items a year, you almost pay, it almost pays the cost of the policy.

SPEAKER 4: So the misconception is the cost and how difficult it is to obtain. And we kind of address those issues to make that as simple as possible for you. Anybody could go to our website. It literally takes you 34 minutes to get a quote and give you an idea of the cost and a policies start at 25,000 of coverage and we can go all the way up to 5 million.

SPEAKER 4: So, you know, these collections, you know, there's people have, you know, very small collections or people who spend, you know, several hundreds of thousands on these items. So we kind of can meet the needs of any, any collector out there.

SPEAKER 2: Yeah, and you mentioned $15 a month. I ship I ship one package that cost me more than that.

SPEAKER 2: And, and shipping, right? And it's that peace of mind. You're also dealing with a company that is just very, very familiar with the landscape, the terrain in the space rather than in the in the homeowners policy case and in the post office case, you make a great point about shipping and receiving being covered too with signature confirmation.

SPEAKER 2: It's funny being at B suburb for SGC, some of the folks when they're at my table at a show, you know, turning in their submission, they may not be local to the show and they're like John, you know, can you ship this to me if I pay for shipping?

SPEAKER 2: And the answer obviously is yes, but I always tell them in that same conversation is I can ship it to you just know that it's gonna be shipped via signature confirmation.

SPEAKER 2: So you either have to be home to sign for it or you'll get that notice in your mailbox that you have a package at your local post office and you need to sign for it and come, come pick it up so long as you're comfortable under those terms, I I can ship it to you and you know, I had someone ask me, why do I gotta, you know, they didn't whether they were asking for the say like why do I have to sign for them?

SPEAKER 2: Like you want, you want your card to be covered? God forbid some, you know, worst case scenario that's a requirement of insure insurance. And then, and it makes sense, right? It's just i it's it's part of the tracking, the provenance where, where it was lost in, in the chain of command and, and that sort of thing.

SPEAKER 2: So, you know, I think it's a very important and that's, it's, you know, that's a great point. We mentioned earlier with, with homeowners versus real collectibles insurance. Like Stadium in insurance is it covers stuff you're receiving and shipping as long as it's sent under those, parameters where homeowners isn't.

SPEAKER 2: You know, you tell you, tell, you know, State Farm, I sent, a $2000 card and it didn't arrive and be like, ok, well, what else can we help you with today? I don't know anything about that. Like, you know, so, that's, that's the difference.

SPEAKER 2: And like you said, it's not as daunting, you can take a video, you know, I don't care how expensive you can collection is. Right. You, you, chances are, if you're, if your, if your collection is expensive, you've probably already cataloged it anyway, just for your own, just for your own personal satisfaction.

SPEAKER 2: So you just, like you said, you, you, you go to the app, you upload those, those photos that you probably already have. You don't even have to take them and, you can correct me if I'm wrong. Like right now you guys are the only one with an app that I'm aware of. How cool. How cool is that and convenient. Right.

SPEAKER 4: Correct. Yeah. No, it's great. It's like I said it's all about being simple and easy to use. The other thing I want to make clear is it's not, I mean, our product just doesn't cover shipping. The other big thing is, you know, we see people walking around the shows with these pelican cases and the Zion cases and they have the whole net worth sitting inside these cases, these, these items you own.

SPEAKER 4: Don't, we don't just cover it in your house. So if, if you're at a show and you're carrying your pelican case and, you know, you have a significant amount of money or value in these cars that you're carrying around with you. You really need to have it insured. You put that case down for one minute and people know what you have in there.

SPEAKER 4: You know, strange things happen. And the other thing is, you know, we went to, we went to the National and we see the people walking around with these cases with 100,000 $200,000 and cards in them and they'll go put that case in the room and they'll go out to dinner that night. I mean, it's, it's absolutely nuts.

SPEAKER 4: So there is a lot of risk in this. And, you know, we hate to believe that anything like that could happen. But, you know, if you're protected, at least you have that peace of mind that if something was to happen, that you would be compensated and you can go out and, and repurchase those items that, that were stolen, for example.

SPEAKER 4: So, it's important, it's important product to have. I mean, you insure your, your, your wife's engagement ring or you insure your car, you insure, you know, like I said, jewelry watches, it's the same concept. These things are holders of significant value and, if anything, these are at risk more than those other items. So, it, it's good to have something in place.

SPEAKER 2: Yeah. With, with the explosion of the hobby during COVID Dan as, as you well know, you, you, you, you made the mainstream, right? The hobby was on regular news reports, financial, news networks. We, we're covering what some of these cards were going for record setting auctions.

SPEAKER 2: It was bringing more eyes into the space and, and, you know, unfortunately we, sometimes we don't like to talk about this. Right.

SPEAKER 2: But anytime any, and this isn't relegated to, to the hobby, any hobby, any kind of industry or business, anytime there's value or money involved, there's people of, of ill rebuke that will try to cash in, and take advantage of that. So, whether that's stealing something from a dealer's showcase at a show, whether it be National or regional or local show or, like you said, you put your, your pelican case down for a second.

SPEAKER 2: You, you, you, you know, you have a, a lapse of, of kno knowledge and someone grabs it kind of walks away, gets lost in the crowd. You look down and it's, where is it like, and, and now you're, now the pa sets in.

SPEAKER 2: Right. And it's nice to know that you, you have covered, you know, it's one thing to, to lose an item that means so much to you. And then if you're not, if you're not insured, not only it's a double whammy. Right.

SPEAKER 2: You not only have you lost the item, but you're getting no financial compensation for the loss. And, and so if you want to get it again, you're, you're basically buying it twice out of pocket.

SPEAKER 2: And, and in some cases, right, we, we talked about this, before, in some cases, it might be an item that you really can't replace. And so if you can't replace it, in the very least you, it'd be nice to get some compensation. So it's not a, a double bad day. Right. It's, it's still a bad day because the item's gone.

SPEAKER 2: But at least you have some sort of compensation where, again, it's, it's, it could be a lot worse and, and I, I guess my question as a dealer who sets up at shows, and, and you hope, you know, I've been fortunate that, I've had some minor things taken, not even worth, like filing a claim over, but it's to a dealer if they have a card of significance that somehow gets taken from a case.

SPEAKER 2: What is the requirement insured? Why do they need a police report just for a dealer who might be listening?

SPEAKER 2: Yeah. So they're kind of weird like what's that process?

SPEAKER 4: Yeah. So for example, if it's a high value item, you file the claim right through our mobile app. If it's a theft claim, we do file a police report because as an insurance company, we do investigate fraud.

SPEAKER 4: And, and if that card re you know, reappears later and someone else has it, then the fact that there's a police report, we can go and confiscate that card because we, once we pay you for it, we actually own that particular item. So essentially we bought it from you when we pay you for that loss.

SPEAKER 4: But we do require a police report if there is a theft claim because again, it, it does cut down on the fraud aspect and it just makes, it makes us aware that that item could rec recirculate later in the hobby.

SPEAKER 4: But for fire, fire, water damage, smoke damage, I mean, that's, we don't require police report for those items. Obviously, it's just theft that we require a police report. And then once that claim submitted within 24 hours, one of our claims adjusters will reach out and they'll start the process with getting the comps for that item and then we get you compensated as soon as possible.

SPEAKER 2: Yeah, it makes all the sense tomorrow and, and thankfully I've never had to do, I've never had to do it myself. Dan, but I've seen fellow dealers have something of significance. Walk off from a case and you, you call the police, they'll come to the show.

SPEAKER 2: You know, take, I ask you what happened. Again, they're not, unless they're collected themselves, they probably won't know. But they, at least they'll file the report right and do what they do. And now you have that, that necessary paperwork to file, file your claim.

SPEAKER 2: It's not difficult, you know, police are to protect and serve. They will come to the show, they will be let in, directed where they need to go make that, report out, talk to you. Now you have the, the what the requirement needed to file a claim again. No one wants that to happen, right.

SPEAKER 2: But it's nice to know it's not rocket science to if, and when that day comes to, that's how the process, works. I've seen it. It doesn't matter what's a National, I know certain securities have more, you're seeing more security, right? I know some shows have like cameras all over every angle which obviously helps.

SPEAKER 2: And you, and you mentioned a great point with these, with grading and a lot of these serial number cards and the Grady card themselves having a serial number on it. It makes it easier to track if a lot of, as long as it's not cracked out of that case, it's easier to track that, that this card is stolen.

SPEAKER 2: And now it's appearing on somebody's, for sale feed, whether it be Ebay or I've even heard, we've all heard instances where someone stolen the card and went to another show and, and the word was out there and they kind of matched up the numbers and like apprehended a suspect and in that fashion.

SPEAKER 2: So, you know, it's, it's, I think it's, it's harder, maybe to, to steal certain cards. But, you still gotta do the, you know, you still gotta file the paperwork and do with the, above board. And it's a great point like, you know, you, when you, when you reimburse someone for a loss that you're taking on that loss.

SPEAKER 2: So that card, you, you do own that card. That's, you know, people, I don't think people would often realize that. So now they can take that money and purchase the same card and then that's their card, but you're, you're covering the loss if that card services and the suspects apprehended.

SPEAKER 2: You know, you take possession of the card, speak to that process. So let's say the card is recovered. You know, what, what happens from there. Yeah.

SPEAKER 4: So there's a couple of things, one thing I want to bring up is you can file a police report online, the police don't have to come out to the show necessarily or, or to your house or wherever. A lot of times we just, you just file a police report online and that it's a very simple process.

SPEAKER 4: So it's, it's not a, a big time consuming.

SPEAKER 2: Or there's something and I didn't know that. So I just, I just learned something right there. Go, go ahead.

SPEAKER 4: But so what happens is we compensate you for the card. We pay you the actual cash value of the card if there's a loss. If that card resurfaces again, we we, we own that card.

SPEAKER 4: But the idea of the whole thing is to put you back to the way you were prior to the loss where you would get a check and you can go out and buy that, that same card if it's available on the market and that the amount we pay you is enough money for you to go out and buy that card at that time. So that process is very simple, very easy for us to do, very easy for the consumer to navigate.

SPEAKER 4: Like I said, it's just a matter of filing a claim, filing an online police report, submitting those through our mobile app. Live person gives you a call within 24 hours. We work together to come up with a comp on that item exactly what you had and then we issue a check to you for that item.

SPEAKER 2: Yeah. Again, the reason I'm asking this is I, I don't think people realize that it's, it's, I think it's scary and it, it doesn't have to be. And like I said, I just learned that you can do a policeman or I, I always, I always was under the assumption when the incident happens, you gotta get on the phone, get someone there, get the paperwork.

SPEAKER 2: But, you know, it makes sense now because there are, even with a car accident, it's like the damage is minimal. You can just exchange information and I've heard people like, call the police and they're like, if the damage is not bad, exchange information and through the phone, they've documented that a call, came in and that you did your, you did what you were supposed to do.

SPEAKER 2: So, and now it kind of sort of makes sense but that I always thought with, with the theft or, you know, you had to, call, always have them come on site. But so I learned something there, which is, which is, pretty cool. You know, we've seen the rise of me being you, of recent years.

SPEAKER 2: It's always been a popular thing to collect, you collect it yourself with, with, with game, you stop bats for those that want to ensure like, outside the sports cards realm. Obviously, we have grading in sports cards but with like, let's say, a sign bat or a game used uniform or, or, or, or a combination game, you sign what is the requirements for the owner of those type of items to be covered?

SPEAKER 4: Yeah. So again, if it's a high value item through the mobile app, you just take a picture of the front and back of that item and then any authentication, whether it's a receipt from an auction house or it's a letter from, you know, there's companies out there mirrors PS A, there's several in the game use space that authenticate items.

SPEAKER 4: We just ask for, whether it's an authentication letter that you get from those companies or receipt for the purchase from the major auction house, whether it's Golden Heritage.

SPEAKER 4: You know, Leland's Great flannel, any of those auction houses, you just take a picture of the front and back and that receipt or authentication and we catalog it in the mobile app. It, it's very simple.

SPEAKER 4: If it's not a high value item again, you just keep, whether it's photos on your phone, a video or a spreadsheet of what you had.

SPEAKER 4: It, it, it's really user friendly, this this product. So, and whether it's a type one photo, a ticket, it's the same process.

SPEAKER 2: There you go. And, and a great point you made earlier too. If you're a person who travels to a lot of show that brings your inventory on the road with you, you know, you made, you made a point that like you, you may not, you know, that thing may be handcuffed to you. That case might be handcuffed to, to you at the show.

SPEAKER 2: You get back to your room, you leave it, there you go to D you're not taking it to most people aren't taking there, Zion, taste the dinner and put it under the table, right? You're, you assume your hotel room is safe, you put it, you leave it in your room even if you hide it or don't leave it out but things can happen, right? There's people coming into the room.

SPEAKER 2: You know, you just don't know and, and you know, if so if you're someone that goes to a lot of shows or travels, you, you know something to think about as well to have coverage that way you're, you know, you don't have a AAA sad story that doesn't have some sort of happy ending.

SPEAKER 2: It, it, it's again, it's, it's the ease of it. I don't think people realize, I think that's one of the reasons people are hesitant and that's, I wanted to have you on today to kinda to go over those things cause while I know some, I don't, you know, even me before I had it, I, my perception was not what, what reality was.

SPEAKER 2: And so I wanted to bring some reality to, to other people who may not have it, who are thinking about it, or on the fence and realize like this is not that, difficult and, it's important, right. With, with some of the values of our collections. Right. Yeah. Yeah, it's like, get insurance, right. The old insurance ads, right.

SPEAKER 2: You, you, you know, you don't want to use it. Right. But you, you really do need it. And you hope you never use it, that peace of mind that you get that, you know, God forbid I have, I have coverage if, if, if a bad day occurs and you know, some people say, well, I'll take my chances, right?

SPEAKER 2: It just, it just takes one day, day, taking any chances, you know, you hear people say, man, I wish I would have did this or, you know, hindsight being 2020 I don't wanna be one of those guys. So and again, he said, like you said, it's very affordable. You're the only one with an app which is really cool.

SPEAKER 2: You know, and so again, you know, I'm sure anyone ask questions, they can reach out to you as well, much like you answered.

SPEAKER 2: Here Dan, I appreciate you making some time. I know you're really busy.

SPEAKER 2: Give out, take as much time as you need, give out your website, Social Media where people can find out more or just get coverage period.

SPEAKER 4: Yeah. No, I appreciate it. Thanks for having me on today and it's great just to share, you know what our product is.

SPEAKER 4: You can get a quote very and like I said, a matter of minutes by visiting Stadium Insurance.com. So again, you can go to Stadium Insurance.com. We're in the app store as well under Stadium Insurance, you can download the mobile app and get a quote that way as well. Whatever is easiest for you. We do. We are on Instagram, Stadium Insurance on Instagram.

SPEAKER 4: We have a Facebook, you know, Stadium Insurance on Facebook. So there's several avenues where you could get information on our company. But the best thing to do is just visit that website and you know, no obligation, 3 to 4 minutes, get a quote, see if it fits in your budget and you're welcome to message us right through the website or you feel free to email me.

SPEAKER 4: You can be reached at Dan Dot Lorber at Stadium Insurance.com. I'll be sure to answer all your questions and reply right away just to make sure you fully understand what our product is, what it covers and the best way to get the best coverage for your collection.

SPEAKER 2: Yeah, again, you know, it's, it's for me it's a no brainer. You know, and I'm I'm sure for many others, but there's probably people that should have it that are just a little intimidated by the process, but you don't have to be. And, that's, you know, that was kind of the, the crux of, of this episode. Did I hear you? Are you, are, do you have a presence at the show? Did I hear that? Right.

SPEAKER 4: Early earlier we've been doing a lot of shows on the west coast. So we did the, we did the Burbank show. We've done some shows in San Francisco, as we expand right now, we're live in 14 states. We'll be in all 50 states by the end of the year.

SPEAKER 4: But if you're no matter what state you're in, you can go in and get a quote and then that will help prioritize what states we're in li live in if we're not already in your state. But yeah, you'll start seeing us at shows. But feel free to reach out to me. Any questions come up, you know, we're happy to answer questions for, for any collectors out there.

SPEAKER 4: Like I said, I'm a longtime collector myself and we've all heard the horror stories. There's not one person that hasn't heard a horror story of things being stolen or there's a fire and you know how they had this amazing collection and now they're starting over. It's just sad to hear that.

SPEAKER 4: And, you know, you ship things out to each other, you ship things in the PS A, you ship things in the SGC. You know, you hate for some, somebody at the post office to see that label with that address and get tempted by, by items that are, that are in the mail. So, just peace of mind for all collectors out there.

SPEAKER 2: Yeah, it's a great point too. I, you know, one thing I do, Dan, as a tip, like anything I ship doesn't say sports cards on it. Like I don't, my, the name. Right. Like if you, if someone can tell, they can tell, but I'm just not going to advertise it. I always thought it'd be interesting if the grading companies themselves use.

SPEAKER 2: I think, you know, there's collectors that work at the post office. If they see a box that says SGC or PS A, they, they know what's in it. They're probably great people that with morals and ethics that don't do anything. Right? But it just takes that one person that says, hey, I'm not in good standing here anyway. My job's in risk, right? Those are real situations.

SPEAKER 2: I hate to say it, but that, those are true. We read stories right? Where a Fedex employee is arrested and charged with, the right. We heard about the UPS guy that went into like AAA cul de sac one way street where like an open field and, you know, dumped some boxes out and then came back later with regular vehicle and, and put them into that vehicle and that sort of thing.

SPEAKER 2: Those are, I'm not making that up, those are reported, stories where they were, where the person was arrested and charged and, and, you know, were criminally, either convicted or acquitted. Those are real stories. And, you know, it's nice to know. God forbid you're a victim of the heck a UPS truck.

SPEAKER 2: I saw it was on fire the other day. Everything in the truck was a, was a total loss as, as something happened electrically in the back and the thing went up very quickly and the driver, the driver is not thinking about, hey, let me save John's box to GC. He's, he's running like, I don't want to get caught in these flames, like, and dialing 911, you know, and my truck's on fire.

SPEAKER 2: He's not trying to save your baggage as he shouldn't. Right. It's self preservation. But don't those are real things that happen every day un unfortunately. And so, it's nice to know that there's, utilities in place that can cover you. It's already gonna be bad news, right?

SPEAKER 2: But it doesn't have to be double, bad news. And, that's the service. You guys provide the only one with an app. Very, very cool. And, like you said, you're, you're getting out there to shows and being more visible and, that's, that's a good thing. This is, really just a, a positive thing and I think more people, need to be aware of.

SPEAKER 2: So that's again, that's why we we did this. So Dan again, appreciate you coming on, look forward to meeting you in person and like you said, any questions, reach out to Stadium Insurance and Dan, they'd be glad to, glad to help you out, steer you in the right direction. So thanks Dan.

SPEAKER 4: Thanks John. Appreciate it. Good talking to you today.

SPEAKER 2: All right, thank you. All right. Thank you to Dan for jumping on making some time for the show and, and very important stuff, right?

SPEAKER 2: You build your collection, you spend maybe years in doing so the cards have sentimental value, they have real value, intrinsic value and whether you're shipping, receiving, storing them at your house in my case, driving to show locations setting up as a dealer in my case, you know, as a bulk subber for SGC, right? I send out a AAA lot of cards in one direction and get a lot of cards coming back to me, right?

SPEAKER 2: And I need that ma have coverage to make sure worst case scenario, right? Remember with insurance, right? We we have to have, I don't say we have to, but we don't want to use it, right? That means something bad happened.

SPEAKER 2: But it's nice to know and have that peace of mind that God forbid, you know, something goes wrong, you know, a delivery truck goes up in flames. A package gets lost, a package gets stolen, a card gets stolen, whatever the case may be, whatever the scenario is, you know, Stadium Insurance in this case will cover it specifically.

SPEAKER 2: It's geared to the hobby, not all state where they have no idea what you're talking about. So big difference. I hope you glean that, from the interview and, if you don't have, if you have quite the collection, you don't have it insured, you need to rethink that position.

SPEAKER 6: That's a wrap for this week. Huge. Thanks to you, the listeners out there because what are you?

SPEAKER 6: There is no ice.

SPEAKER 6: If you like the show, we truly appreciate positive reviews. Big UPS to our great guests who drive the show and our awesome sponsors who make it all possible. Sports Cog Nation will be back next week, but don't forget to catch either hobby quick hits or Cod Mens coming up on Monday.

SPEAKER 6: I'll leave you with this.

SPEAKER 6: How do we change the world?

SPEAKER 6: One random act of kindness at a time.

SPEAKER 6: Remember the hobby is the people.

SPEAKER 7: Iron Sports Cards is your number one source for all your PS A and other grading submissions. Their elite status improves turnaround times. Heck, they even provide the card savers. Their chat rooms provide updates on all your submissions.

SPEAKER 7: They also offer wax options and single cards to cover all the bases. Check them out on Facebook at Iron Sports Cards Group or on the web at Irons sports cards.com or even give them a call at 1877 Ironps A Rob's got you covered.

SPEAKER 8: For nearly 50 years. Sports collectors Digest has been the voice of the hobby. Bringing you comprehensive coverage of the sports collectible industry from industry news, auction results, market analysis and in depth stories about collectors and their collections. Sports collectors digest has everything you need to know about the hobby.

SPEAKER 8: S CD is also your leading source for listings of sports collectible dealers, card shops, card shows and the latest from the industry's top companies to check out all the latest news or to subscribe to the hobby's oldest magazine. Visit sports collectors, digest.com or call 1 808 29 55 61.