In what may strengthen the argument that almost anything is insurable, there is now an insurer of used sneakers.
The sneaker insurance company SoleSafe LLC is the idea of Phil Terrill, a native of St. Louis. Paul who came across 10 pairs of Michael Jordan signature basketball shoes that were left behind a house that he and his wife had bought.
According to an article in the Minneapolis Star Tribune, Terrill came out with his brainstorm after unsuccessfully trying to obtain insurance for sneakers, which he valued at more than $ 40,000.
SoleSafe has a mobile app that offers insurance coverage for high-end sneakers with a valuation and valuation model. Using the app, customers can upload photos of their shoes, which are then authenticated by SoleSafe.
Shoes insured by SoleSafe are typically valued at approximately $ 250, according to the article, and claims paid are based on market value.
It is not mentioned whether smelly affects their value.