The coverage is meant to protect people against losing the investments in sporting goods.
A new type of NFL jersey insurance has now been created in order to help to give more confidence to people who would love to make an investment into these $100+ sporting goods but who are nervous that situations could change and their purchase could rapidly become worthless.
The insurance policy is available at a sporting goods store that has 18 locations in the Philadelphia area.
The store in question is called Schuylkill Valley Sports and it is now selling NFL jersey insurance at all 18 of its various locations. The idea is that the plan can be purchased at the store for $10. It protects a shopper against the loss of value of his or her product if the player on the jersey ends up being traded to another team. It ensures that the customer will be able to obtain another similar product at a reduced price instead of having to re-invest the full amount.
Essentially, the NFL jersey insurance policy works as a discount coupon if the original player is traded or otherwise leaves.
On the official website for the sporting goods chain, it is described as follows: “NFL jersey insurance allows you to purchase a new NFL jersey (of equal or lesser value) at 50% off the current retail price (at time of future purchase) if the original player jersey purchased is traded or released.”
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This means that if someone purchased a jersey for $100 today and the insurance policy is bought along with it, if the player on the original jersey is traded at some point in August, then that same customer could then go back to the store and pick up a new jersey of equal or lesser value at half the price tag amount.
What’s the catch? There’s a bit of fine print on these NFL jersey insurance policies. For instance, they aren’t effective forever (which makes sense). They remain valid for 18 months after the purchase date. Moreover, they can’t be applied against clearance jerseys that have already been discounted by 50 percent or more. The only jerseys that can be purchased are those that are in stock, so special orders aren’t covered. Injured and retired players products aren’t eligible for this coverage.