The Minnesota Twins and Techstars are teaming up to bring various startups to the Twin Cities. One such startup is SoleSafe, an insurance company for shoes.
ST PAUL, Minn. “We all have insurance for our homes, our cars, ourselves. But have you ever thought about insuring your shoes?
Phil Terrill, Founder; and CEO of Sole Safe, says there is a need for this type of insurance. And he knows what he’s talking about when it comes to shoes.
“I actually started collecting shoes when I was born, and since then I’ve been buying, selling, trading, collecting sneakers,” he said.
SoleSafe is first to market with purpose-built insurance coverage; for sneakers.
“Being first to everything is great, but I’m more excited to be the first to do it right,” Terrill said.
The startup is part of Minnesota Twins and Techstars’ New Acceleration Program.
the concept is quite simple.
You go to the SoleSafe app, find your shoe, select your size, enter the condition of the shoe and your zip code. Then Solesafe recommends the perfect cover for you. You take a few pictures of your shoe for authentication and then you’re done.
The insurance covers theft, water damage, mold and even coffee spills.
For Moh Habib, owner of Studiiyo23 in Minneapolis, that assurance is long overdue.
“It’s been proven that the shoe industry is a billion dollar industry and now sometimes trades like stocks,” Habib said.
Studiiyo23 is working with SoleSafe to be the first retailer to offer the insurance.
SoleSafe plans to launch in early 2022.