Watch Damage Insurance or Just Theft?

[tomchicago]

Gents do you know of any insurance cos that cover watch damage and not just theft? E.g., say your watch is damaged with extremely expensive repair bill, does insurance cover that?

[kilyung]

I have loss coverage. I'll pay for damages myself.

[gwalker]

Mine is insured at replacement cost. Not sure if water damage is covered but as mike said I'll take care of damage myself. I have insurance for loss/theft.

[Solo118]

Originally Posted by gwalker

Mine is insured at replacement cost. Not sure if water damage is covered but as mike said I'll take care of damage myself. I have insurance for loss/theft.

Are you using your homeowners/renters insurance?

I was interested in having coverage on a few watches and my wifes jewelry. I called my auto insurance (they have renters insurance as well) and they offered me a policy for about $2k per year. I hung up

[gwalker]

Originally Posted by Solo118

Are you using your homeowners/renters insurance?

I was interested in having coverage on a few watches and my wifes jewelry. I called my auto insurance (they have renters insurance as well) and they offered me a policy for about $2k per year. I hung up

I use a rider on our homeowners policy for all of our jewelry. I have it in writing that everything is insured at replacement cost and only the rider will be effected if there is a claim, not my homeowner policy. Jewelers Mutual wanted over $1500 a year for the same amount of coverage with actually a larger deductible on my AP and my wife's engagement ring. It's only $750ish for my HO rider so half the price. Not to mention I also have my boat, RV, and cars with the same agent so we are taken care of and get some personal service.

[handsfull]

Jewelers mutual/Perfect Circle.

[mvp1222]

I know that USAA doesn't take all comers. But for those with military history (or family military history) they are great.

I pay 200 a year, for about 28K in coverage for two watches and my wife's ring.

Loss and damage are covered with no deductible. Cracked the crystal on my Millie about 2 years ago, sent it in for repairs to RSC and was reimbursed by USAA no questions asked.

[A.D. Merrill]

Originally Posted by mvp1222

I know that USAA doesn't take all comers. But for those with military history (or family military history) they are great.

I pay 200 a year, for about 28K in coverage for two watches and my wife's ring.

Loss and damage are covered with no deductible. Cracked the crystal on my Millie about 2 years ago, sent it in for repairs to RSC and was reimbursed by USAA no questions asked.

I actually called USAA today (have always had all my insurance through them) and will soon be paying $32/mth for full coverage on my presidential ($31,350 replacement value). I just need to send the appraisal I had done yesterday. That is good to know about damage. I was actually going to post and ask if the $32/mth seemed like a competitive price.

Andy

[Watchflair]

I just got a Jewlers Mutual policy. Seems reasonable price wise. Covers damage, theft, loss etc. Well known and reputable.

[QueueCumber]

Originally Posted by tomchicago

Gents do you know of any insurance cos that cover watch damage and not just theft? E.g., say your watch is damaged with extremely expensive repair bill, does insurance cover that?

It sure does cover it, at a price. I do both. A good company may be costly, but they pay out 20% over the appraisal value. Thus, if the price increases due to changes in market values (materials/gold, etc.), you can still replace the watch for a long period of time.

[Robbie68]

Mine was $104 per anum, covers damage, theft and loss, no deductable. It is on my home policy through Country Financial. Watch insured is BlancPain Fifty Fathoms with a replacement value of $14500.

[doubleinfive]

Does anybody here have State Farm for their coverage? I can always ask my agent about the details but I would like to hear the valued opinions of TRF members as well...

[Luxe Time]

a good valuable personal property policy should cover damage. Every plan could be different, therefore the best thing to do would be call your company and ask.

[Runnin' Rebel]

Andy, some things to factor in is, where you live, personal history, credit score and a bunch of other stuff they strategically throw in. I have USAA as well.