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6 August 2017, 08:28 AM | #1 |
"TRF" Member
Join Date: Sep 2011
Real Name: Nino
Location: Canada, Toronto
Watch: 116613LB
Posts: 75
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how many of you have insurance on your watches?
Hello,
debating if i should get insurance on my two watches, the stories ive been hearing lately has me a little worried now a days lol. how many of you have insurance? and what company (canadian) |
6 August 2017, 08:30 AM | #2 |
"TRF" Member
Join Date: Apr 2017
Location: Toronto area
Posts: 84
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I'm curious about the value threshold to insure a watch. $2k? $10k?
I'd like advice here too. Sent from my iPhone using Tapatalk Pro |
6 August 2017, 08:31 AM | #3 |
"TRF" Member
Join Date: Apr 2017
Location: Toronto area
Posts: 84
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I'm curious about the value threshold to insure a watch. $2k? $10k?
I'd like advice here too. |
6 August 2017, 08:36 AM | #4 |
"TRF" Member
Join Date: Jul 2016
Real Name: TW
Location: Arkansas
Watch: SubC-D
Posts: 195
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No insurance here. I bought a new SubC a year ago.
You should have insurance, I just haven't taken the time to get it. |
6 August 2017, 08:50 AM | #5 |
"TRF" Member
Join Date: Jun 2017
Location: Seattle
Watch: SD 43, Daytona
Posts: 117
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I use my home owners insurance. Cost is roughly 1% per year of valued watch. Have my aqua terra and SD43 with them, runs $129 per year. That is for loss, stolen, misplacement. Unsure about damage.
There is also a private insurance including jewelers mutual which will insure them. People like it as then a claim won't hit your insurance is what I have been told. Some people like keeping it with their agent as its easier and like a physical presence. Personally I need to investigate each more. Would be nice to not have a claim hit my insurance, but what are the odds of loss/theft/misplacement ? Need to investigate jewelers mutual and the like more to see if any issues with unpaid claims, is it a check or do they replace the watch? |
6 August 2017, 08:53 AM | #6 |
"TRF" Member
Join Date: Sep 2016
Location: Here
Posts: 1,004
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Yep, added a personal articles policy with State Farm, who I have my homeowners and auto through. It was super cheap, like $45/yr I think for my Sub C. Well worth it for the peace of mind.
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6 August 2017, 08:54 AM | #7 |
"TRF" Member
Join Date: Apr 2017
Location: Toronto area
Posts: 84
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What's covered on a policy like this? Theft and damage? Theft only?
Sent from my iPhone using Tapatalk Pro |
6 August 2017, 09:02 AM | #8 |
"TRF" Member
Join Date: Aug 2009
Location: USA
Posts: 19,706
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6 August 2017, 09:07 AM | #9 |
"TRF" Member
Join Date: May 2013
Real Name: Jack
Location: The Triangle
Watch: Several
Posts: 6,719
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Coverage may differ in Canada from the US. Most homeowners policies in the US have relative low coverage limits for jewelry and watches, only a couple thousand dollars, plus high dedeuctibles, unless you schedule the items individually. Then you need to determine if the policy covers on a actual cash value (depreciated) basis or full replacement cost basis.
The bottom line is investigate the types of coverage available where you live, and buy it.
__________________
Sub 116613 LN; GMT 116710 LN; Sinn 104R; Exp 214270; GS SBGM221; Omega AT |
6 August 2017, 09:13 AM | #10 |
"TRF" Member
Join Date: Oct 2009
Location: The Ozone
Watch: DD, DJ, SubC Date
Posts: 1,666
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I have a personal articles policy with State Farm. For my DD, DJ, and SubC Date, cost is about $550 per year. Plainly, the DD takes up most of that. In any event, I think a personal articles policy is relatively cheap insurance given what replacement costs would be.
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6 August 2017, 09:14 AM | #11 |
"TRF" Member
Join Date: Dec 2013
Location: New York
Watch: Rolex
Posts: 572
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I have insurance on all my watches. Just gives an extra piece of mind and protects against accidental losses.
Also call your homeowners insurance. I understand there is a limit on the amount of "jewelry" it can attach too. Another reason I removed it from my homeowners is the fact that I didn't want a claim to skyrocket my premium. Sent from my iPhone using Tapatalk Pro |
6 August 2017, 09:17 AM | #12 |
"TRF" Member
Join Date: Jan 2010
Location: Scotland
Watch: Sea-Dweller
Posts: 353
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Yes...all of them!
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1995 Rolex Sea-Dweller 2010 Rolex DSSD 2014 Rolex SD4000 Sea-Dweller 2020 Rolex SD43 Sea-Dweller 2022 Rolex Datejust 41 - Blue Dial, Fluted, Oyster |
6 August 2017, 09:23 AM | #13 |
2024 SubLV41 Pledge Member
Join Date: May 2011
Real Name: Daniel
Location: Minneapolis, MN
Watch: Wilsdorf(s)
Posts: 10,259
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Yes, on State Farm homeowners insurance policy.
__________________
Explorer 214270 MK I/Datejust II Black 116300/Tudor Heritage Black Bay Black 79220N |
6 August 2017, 09:26 AM | #14 |
"TRF" Member
Join Date: Jul 2017
Real Name: Bob
Location: Santa Cruz, CA
Watch: SD43
Posts: 200
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State Farm personal articles policy. $75/yr for my SD43.
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6 August 2017, 09:27 AM | #15 |
"TRF" Member
Join Date: Jul 2017
Real Name: Mike
Location: Georgia
Watch: Hulk 116610LV
Posts: 385
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My wife's ring is about 30k and we insure it through Chubb. The rates at Chubb are higher than normal. We pay about $400 per year. The reason we chose Chubb is that if something happens to the ring, they don't mess around with replacement crap. They just cut you a check for the amount on the appraisal/policy amount.
For my newly acquired Rolex DJ41 I added a valuable personal property plan to my already existing USAA insurance. It's $118 per year with no deductible with my watch listed at a $7500 value. I figure the $118 per year is worth it even if I never make a claim. It's worth the piece of mind. Also, pretty much every consumer expert in the country will tell you that you should never, ever make a homeowner's insurance claim unless you have a catastrophic loss. Insuring a watch through your homeowner's policy is a HORRIBLE idea. These days the homeowner's insurance will almost always cancel you for even one minor claim. Your Rolex should be insured separately. |
6 August 2017, 12:59 PM | #16 | |
"TRF" Member
Join Date: Jan 2007
Location: USA
Watch: 116233 Serti
Posts: 204
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Chubb
Quote:
The policy covered damage, theft, or even mysterious disappearance. They explained a situation surrounding mysterious disappearance would be my wife taking off the ring to wash her hands and simply losing the ring and not knowing exactly when or where.
__________________
Rolex 116233 Serti; Omega 300 Master Co-Axial 41mm Titanium; Breitling Aerospace EVO; Omega Planet Ocean 600M Steel on Steel 42mm" |
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6 August 2017, 02:59 PM | #17 | |
"TRF" Member
Join Date: Jul 2011
Real Name: Brandon
Location: Indianapolis
Watch: my money vanish
Posts: 8,506
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Quote:
Yep. Chubb is awesome. Not cheap, but awesome when it comes claim time. Had a friend whose longtime housekeeper stole $50,000 worth of jewelry from the jewelry box. Chubb never batted an eye, wrote the check. Also as someone mentioned earlier if you can use Jewelers Mutual or a separate carrier from your HO insurance it is a good idea. In the HO world not weather related claims are not good. If you. An isolate the two risks then that would be my preferred method. That said I have been too lazy to update my JM policy and have thrown a bunch on my HO policy. I will get a new JM policy soon and remove them from my HO. Sent from my iPhone using Tapatalk |
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6 August 2017, 10:28 AM | #18 |
"TRF" Member
Join Date: Aug 2014
Real Name: Jerry
Location: Los Angeles
Watch: Rolex Submariner,
Posts: 66
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100% I use jewelers mutual, cheaper than my renters insurance.
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Rolex Submariner, Tag Heuer Carrera |
6 August 2017, 10:32 AM | #19 |
"TRF" Member
Join Date: Jun 2009
Real Name: Brian
Location: Northern Virginia
Watch: One of Not Many
Posts: 17,892
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All of my watches and my wife's jewelry are insured
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IWC Portugieser 7 Day, Omega Seamaster SMP300m, Vacheron Constantin Traditionnelle Complete Calendar, Glashutte PanoInverse, Glashutte SeaQ Panorama Date, Omega Aqua Terra 150, Omega CK 859, Omega Speedmaster 3861 Moonwatch, Breitling Superocean Steelfish, JLC Atmos Transparent Clock |
6 August 2017, 10:34 AM | #20 |
"TRF" Member
Join Date: May 2012
Real Name: John Paul
Location: Katy TX
Watch: Sub/Speedy
Posts: 144
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Travelers....Part of the homeowner's policy.
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6 August 2017, 10:34 AM | #21 |
2024 SubLV41 Pledge Member
Join Date: Dec 2009
Real Name: The Mystro ;)
Location: Central Pa.
Posts: 15,518
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I have all my watches insured full msrp value. They are insured on and off the wrist. Many just offer insurance while they are being stored. Get a $500 detectable to save some money.
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6 August 2017, 10:55 AM | #22 |
"TRF" Member
Join Date: Jun 2017
Real Name: Miles
Location: Florida
Watch: 16610LN, 116610LV
Posts: 114
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how many of you have insurance on your watches?
My watches and my wife's jewelry is all insured under a separate policy with USAA. It is very reasonable and is the ultimate peace of mind. They are insured for the cost of replacement.
Sent from my iPhone using Tapatalk |
6 August 2017, 11:10 AM | #23 |
"TRF" Member
Join Date: Jun 2008
Real Name: Chris
Location: NH
Watch: 228239, PAM00684
Posts: 2,121
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I have insurance for all three of mine...the peace of mind is worth the cost imo
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Rolex 228239 PAM00684 |
6 August 2017, 11:19 AM | #24 |
"TRF" Member
Join Date: Mar 2017
Location: Durham NC
Posts: 373
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I have a policy form my Speedy Pro and SubC through Jeweler's Mutual. Covers loss, damage or theft. The pair cost $129/year to cover. I have to get the watches appraised for coverage to really kick in, but I want to wear them without concern for something happening to them.
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6 August 2017, 11:28 AM | #25 |
TRF Moderator & 2024 SubLV41 Patron
Join Date: May 2005
Real Name: God
Location: Washington, D.C.
Watch: What do you think?
Posts: 37,970
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I've got insurance on most of my watches. The only reason I don't have it on the rest is that I've been too lazy to take them to have them appraised.
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Despite the high cost of living, it's still very popular. Tosser Cabinet Member Official Member: 'Perpetual 30' Vegas International GTG 2016 Official Member "WIS-CON" Las Vegas International GTG 2017 Official Member "WIS-CON" Las Vegas International GTG 2018 Official Member "WIS-CON" Las Vegas International GTG 2019 |
6 August 2017, 11:35 AM | #26 |
2024 SubLV41 Pledge Member
Join Date: Aug 2013
Real Name: Ken
Location: New Mexico
Watch: GMT & DJ
Posts: 416
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Jewelers Mutual on three watches and our wedding bands.
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6 August 2017, 11:35 AM | #27 |
"TRF" Member
Join Date: Jul 2017
Location: North Carolina
Posts: 42
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USAA $108/year for $12,268(price I paid with tax)coverage on SD43. They do no depreciate for age if loss occurs.
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6 August 2017, 11:49 AM | #28 |
"TRF" Member
Join Date: Jun 2017
Location: DC
Watch: 126710BLRO, 116600
Posts: 7,869
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I've got insurance on my Rolex, worth the cost to have peace of mind.
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6 August 2017, 11:53 AM | #29 |
"TRF" Member
Join Date: Jun 2015
Real Name: Mark
Location: Washington State
Watch: SUBS and GMT's!
Posts: 9,664
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how many of you have insurance on your watches?
Yes I insure mine. Scheduled possessions policy on my home owners. About 1% of the value of watches/jewelry.
Gets a little old paying the premiums but worth it for peace of mind. Sooner or later I will move to JM. Hear to many horror stories about people being dropped from HO for any claims. Insurance is like the oldest form of organized crime...
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Judge Smails: Ty, what did you shoot today? Ty: Oh, Judge, I don't keep score. Judge Smails: Then how do you measure yourself with other golfers? Ty: By height. |
6 August 2017, 12:04 PM | #30 |
"TRF" Member
Join Date: Aug 2015
Location: Houston
Watch: SkyD, SD43, GMT2
Posts: 5,061
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Have it on all my watches with home owners insurance. Absolutely insure your watches.
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