TOPIC: Insuring Tokens

Check with your insurance company but Riders are Cheaper than Specialty insurance

Picc wrote: I almost wonder if Jeff could offer some form of token insurance. I realize its out of his normal scope but he would be uniquely qualified to issue replacement tokens.

+1 to exploring this idea further

Rob F wrote:

Picc wrote: I almost wonder if Jeff could offer some form of token insurance. I realize its out of his normal scope but he would be uniquely qualified to issue replacement tokens.

+1 to exploring this idea further

I have suggested it before but have no idea if Jeff ever saw the suggestion. Most people weren't all that interested in the idea or thought it didn't make sense for Jeff.

The big challenge would be proving the loss. I suggested it for Legendaries and also suggested having all of them serial numbered. This would allow them to be tracked to make sure they didn't show back up again.

Kirk Bauer wrote:

Rob F wrote:

Picc wrote: I almost wonder if Jeff could offer some form of token insurance. I realize its out of his normal scope but he would be uniquely qualified to issue replacement tokens.

+1 to exploring this idea further

I have suggested it before but have no idea if Jeff ever saw the suggestion. Most people weren't all that interested in the idea or thought it didn't make sense for Jeff.

The big challenge would be proving the loss. I suggested it for Legendaries and also suggested having all of them serial numbered. This would allow them to be tracked to make sure they didn't show back up again.

I would love this idea! The financial loss would be based on the appraised cost... then the tokens could be repurchased from Jeff for the appraised cost.

For my renters insurance i have several riders, normally it only covered $2500 in computers in the house I have a rider that covers my $15,000 worth of computers in my house. I also have a rider for my hobbies collections with my tokens run into, this covers my DND books, minis, legos and td tokens, also another $10k. I would say half of that is legos. Total added like a whopping $8 a month to my renters insurance for theft and loss due to fire.

Kaledor wrote:

Kirk Bauer wrote:

Rob F wrote:

Picc wrote: I almost wonder if Jeff could offer some form of token insurance. I realize its out of his normal scope but he would be uniquely qualified to issue replacement tokens.

+1 to exploring this idea further

I have suggested it before but have no idea if Jeff ever saw the suggestion. Most people weren't all that interested in the idea or thought it didn't make sense for Jeff.

The big challenge would be proving the loss. I suggested it for Legendaries and also suggested having all of them serial numbered. This would allow them to be tracked to make sure they didn't show back up again.

I would love this idea! The financial loss would be based on the appraised cost... then the tokens could be repurchased from Jeff for the appraised cost.

ford and chevy don't provide insurance
neither does an apartment complex or house builders...that is for you to go get after you purchase an item...that is all on the buyer

lazlo_hollyfeld1985 wrote:

Kaledor wrote:

Kirk Bauer wrote:

Rob F wrote:

Picc wrote: I almost wonder if Jeff could offer some form of token insurance. I realize its out of his normal scope but he would be uniquely qualified to issue replacement tokens.

+1 to exploring this idea further

I have suggested it before but have no idea if Jeff ever saw the suggestion. Most people weren't all that interested in the idea or thought it didn't make sense for Jeff.

The big challenge would be proving the loss. I suggested it for Legendaries and also suggested having all of them serial numbered. This would allow them to be tracked to make sure they didn't show back up again.

I would love this idea! The financial loss would be based on the appraised cost... then the tokens could be repurchased from Jeff for the appraised cost.

ford and chevy don't provide insurance
neither does an apartment complex or house builders...that is for you to go get after you purchase an item...that is all on the buyer

+1,000,000.

It's not Jeff's job to protect your Tokens after you buy/transmute them. At least Insurance companies have investigative teams and attorneys to investigate and go after reports of insurance fraud. Jeff has himself, his family and volunteers.

Ro-gan wrote:

lazlo_hollyfeld1985 wrote:

Kaledor wrote:

Kirk Bauer wrote:

Rob F wrote:

Picc wrote: I almost wonder if Jeff could offer some form of token insurance. I realize its out of his normal scope but he would be uniquely qualified to issue replacement tokens.

+1 to exploring this idea further

I have suggested it before but have no idea if Jeff ever saw the suggestion. Most people weren't all that interested in the idea or thought it didn't make sense for Jeff.

The big challenge would be proving the loss. I suggested it for Legendaries and also suggested having all of them serial numbered. This would allow them to be tracked to make sure they didn't show back up again.

I would love this idea! The financial loss would be based on the appraised cost... then the tokens could be repurchased from Jeff for the appraised cost.

ford and chevy don't provide insurance
neither does an apartment complex or house builders...that is for you to go get after you purchase an item...that is all on the buyer

+1,000,000.

It's not Jeff's job to protect your Tokens after you buy/transmute them. At least Insurance companies have investigative teams and attorneys to investigate and go after reports of insurance fraud. Jeff has himself, his family and volunteers.

Yep

I don't think they were suggesting that Jeff provide the insurance, rather that he prOvid appraisals, and if your own, separate insurance paid off, you could purchase your lost tokens from Jeff for the cost he appraised them for.

Or maybe I misunderstood.

Wade Schwendemann wrote: I don't think they were suggesting that Jeff provide the insurance, rather that he prOvid appraisals, and if your own, separate insurance paid off, you could purchase your lost tokens from Jeff for the cost he appraised them for.

Or maybe I misunderstood.

no before people were suggesting(almost seemed like demanding) that he should

lazlo_hollyfeld1985 wrote:

Wade Schwendemann wrote: I don't think they were suggesting that Jeff provide the insurance, rather that he prOvid appraisals, and if your own, separate insurance paid off, you could purchase your lost tokens from Jeff for the cost he appraised them for.

Or maybe I misunderstood.

no before people were suggesting(almost seemed like demanding) that he should

To be clear I was suggesting that Jeff could provide insurance (if he wanted to). I know its not his job to do it but it could be a source of revenue if he were to do it. The main barrier to being an insurance provider is the cost of paying out in the event of a claim, for Jeff that cost would be basically zero since he could just print new tokens to pay out policies.

For example someone someone fills out a form they find on the website and pays $100 per year or whatever to ensure their $10,000 worth of tokens for the year. Something happens to said tokens, the person fills out another form attaches a police/fire reports/evidence of the destroyed/missing tokens and sends it in along with a copy of their policy. Jeff then goes through the old transmute buckets/extras URs/prints off new tokens and sends those out. Transaction done.


Now all that said I'm not saying he's obligated, should, or would ever want to offer a service like this. Only that he is uniquely qualified to do so since he can just create a new COA/Legendary/etc where as a traditional insurance provider would need either buy replacement tokens on the secondary market or issue a cash settlement.

Picc wrote:

lazlo_hollyfeld1985 wrote:

Wade Schwendemann wrote: I don't think they were suggesting that Jeff provide the insurance, rather that he prOvid appraisals, and if your own, separate insurance paid off, you could purchase your lost tokens from Jeff for the cost he appraised them for.

Or maybe I misunderstood.

no before people were suggesting(almost seemed like demanding) that he should

To be clear I was suggesting that Jeff could provide insurance (if he wanted to). I know its not his job to do it but it could be a source of revenue if he were to do it. The main barrier to being an insurance provider is the cost of paying out in the event of a claim, for Jeff that cost would be basically zero since he could just print new tokens to pay out policies.

For example someone someone fills out a form they find on the website and pays $100 per year or whatever to ensure their $10,000 worth of tokens for the year. Something happens to said tokens, the person fills out another form attaches a police/fire reports/evidence of the destroyed/missing tokens and sends it in along with a copy of their policy. Jeff then goes through the old transmute buckets/extras URs/prints off new tokens and sends those out. Transaction done.


Now all that said I'm not saying he's obligated, should, or would ever want to offer a service like this. Only that he is uniquely qualified to do so since he can just create a new COA/Legendary/etc where as a traditional insurance provider would need either buy replacement tokens on the secondary market or issue a cash settlement.

That's all well and good. But I see way too many ways to commit fraud.

Token holder sells Legendaries.
Token holder tells police Tokens were stolen.
Police take a quick report about Tokens stolen from Token holder's [whatever] at a game store or unlocked car.
Token holder gets copy of police report.
Token holder contacts Jeff and makes false claim.
Jeff sends new replacement Tokens.
Wash. Rinse. Repeat.