Can't Insure Platona...

[locutus49]

I've been with USAA for 40 years and have had numerous expensive watches, and the wife's jewelry, on the policy. Not including art, etc.

But replacement value for the Platona exceeds their limit, so they refused.

I spoke to another USAA rep and they are going to attempt to obtain a one-time exception for the Platona.

The problem is we no longer have a house alarm since we moved to the condo. The condo building has a secured front door with keypad, etc., but they don't count that and none of our condos in the building have individual alarms.

Yikes, what a nightmare. 40 years of loyalty counts for nothing.

Worse case, I'll switch to Jewelers Mutual or some other company.

[RolexJNJ]

Wow, sorry to hear. Mine is insured through State Farm. After the multiple line discount, they were less than Jewelers Mutual. Good luck!

[Chewbacca]

John, John, John... Mo platonas, mo problems.

i'm sure someone will take your business.

[Rolex addict]

[QUOTE=Chewbacca;5921825]John, John, John... Mo platonas, mo problems.



Pretty funny

That is a rather serious problem though. I wouldn't dare wear a watch like that without insurance. I've heard nothing but good things about JM, so I'm sure they'll take care of you. I believe Dr. Tom insures his with them.

[borgan]

Originally Posted by Chewbacca

John, John, John... Mo platonas, mo problems.

i'm sure someone will take your business.

lol!!!

get a safe bolted in at home.. that has considerably reduced my insurance costs!!

[AK797]

Originally Posted by Chewbacca

John, John, John... Mo platonas, mo problems.

i'm sure someone will take your business.

[Sublover2166]

Jewelers Mutual. They will take care of you.

Also, if you don't already own one BUY A SAFE !!!!!!

[thomaspp]

Go with JM, John. A little expensive but all around great service.

[kilyung]

Just don't ever take it off.

[locutus49]

When I told them I don't ever take it off they really got worried

Originally Posted by kilyung

Just don't ever take it off.

[brandrea]

Originally Posted by kilyung

Just don't ever take it off.

[JRolex]

Not to sound sour, but I'm sure besides this, you've had great relations with USAA during those 40 years - and they did say they'll look into making an exception for you - that's more than what most companies would say in my experience. I'm sure they'll find solution for you.

In the meantime, maybe think about getting a temporary insurance plan to protect it until things clear up with USAA.

[bbressler]

Originally Posted by JRolex

Not to sound sour, but I'm sure besides this, you've had great relations with USAA during those 40 years - and they did say they'll look into making an exception for you - that's more than what most companies would say in my experience. I'm sure they'll find solution for you.

In the meantime, maybe think about getting a temporary insurance plan to protect it until things clear up with USAA.

Yeah I read this the same way. Your item exceeds their limits, and they going to try and make an exception for you. Seems like pretty good service to me

In my experience with USAA (mostly for auto) they've always gone above and beyond what other insurance companies would do, but if they feel they can't provide coverage for a $75,000 watch in a condo with no alarm system, then go with JM.

[Ferdelious]

Another vote for Jewelers Mutual, will probably cost you around $600-700 a year for the Platona.

[joe100]

Sounds like you're getting good service to me. My condo has an excellent alarm system, onsite security, magnetic door locks, etc etc.

[dennywags]

Holy first world problems. Can't insure a $75,000 watch.

[Mak2013]

Originally Posted by dennywags

Holy first world problems. Can't insure a $75,000 watch.

Lol, it does sound bad, doesn't it.

[Mr. K]

Originally Posted by dennywags

Holy first world problems. Can't insure a $75,000 watch.

But sounds like such a great problem to have. Wish I did.

[watchwatcher]

Not surprised...not a USAA fan.

[locutus49]

Thanks for the replies. I'm not concerned. I've never been mugged or burgled. If I am, I'll tell them it is an Invicta.

[Urosfan]

State Farm for me also it was cheaper than Jm

[tkerrmd]

Hey but ya have a Platona!!

[texex91]

I'm surprised as I added my Richard Mille through USAA for $115k no issues.

They will send it to underwriting, but never had an issue with any of my watches over $75k with USAA.

[HorologyK]

Originally Posted by texex91

I'm surprised as I added my Richard Mille through USAA for $115k no issues.

They will send it to underwriting, but never had an issue with any of my watches over $75k with USAA.

Ditto.

[locutus49]

Originally Posted by HorologyK

Ditto.

They later told me they thought they could get me an exception to their policy. So I'm hopeful. Thanks for the info. I'll mention it to the underwriter the next time they call, which should be Monday.

[texex91]

Originally Posted by locutus49

They later told me they thought they could get me an exception to their policy. So I'm hopeful. Thanks for the info. I'll mention it to the underwriter the next time they call, which should be Monday.

Let's be clear here...I know USAA policy VERY well (have 4 watches all over 'their limit' insured with them)--and I change those frequently. Any watches under $40k I don't insure (don't need a lecture). There is no 'exception' to give. NOW, the 'exception' may be YOUR circumstances do not meet their standards, in which case the underwriter WILL reject your request.

I believe $65k is their standard limit for VPP (Valuable Personal Property). You probably paid (hopefully) in the $50's for the watch, so I'm not sure why the issue. HOWEVER, even if they are going off full retail (which they can), they merely send it to underwriting, who will come back with questions and then make a determination (trust me they WANT to sell you a policy). You will NEVER speak to the actual underwriter, but rather a rep (that is frustrating I know). Every USAA member is different (credit, living situation, claims in the past, etc) so if they reject your watch, do not assume it's their blanket policy--because it's NOT.

USAA VPP is not their bread and butter, so the process can be a little difficult. However, it's a zero deduct, policy is effective in ANY country you travel and you know you will get paid quickly if something does happen.

[locutus49]

This is helpful. They sent me a rejection letter today, mainly based on lack of centrally monitored alarm.

What they don't understand is that we have a very secure keypad front door to the building, and individual condos do not have alarms. Probably not permitted.

I will ask them to insure it to their limit, probably 50K, and provide the sales invoice of my actual cost. Maybe that will work. The individual alarm is a no-go in my building.

Originally Posted by texex91

Let's be clear here...I know USAA policy VERY well (have 4 watches all over 'their limit' insured with them)--and I change those frequently. Any watches under $40k I don't insure (don't need a lecture). There is no 'exception' to give. NOW, the 'exception' may be YOUR circumstances do not meet their standards, in which case the underwriter WILL reject your request.

I believe $65k is their standard limit for VPP (Valuable Personal Property). You probably paid (hopefully) in the $50's for the watch, so I'm not sure why the issue. HOWEVER, even if they are going off full retail (which they can), they merely send it to underwriting, who will come back with questions and then make a determination (trust me they WANT to sell you a policy). You will NEVER speak to the actual underwriter, but rather a rep (that is frustrating I know). Every USAA member is different (credit, living situation, claims in the past, etc) so if they reject your watch, do not assume it's their blanket policy--because it's NOT.

USAA VPP is not their bread and butter, so the process can be a little difficult. However, it's a zero deduct, policy is effective in ANY country you travel and you know you will get paid quickly if something does happen.

[jschmidtdmd]

Interesting, I do everything with Chubb. They have been fantastic.

[123Blueface]

I cannot say enough positive things about JM.
My claim was handled super fast and incredibly fair.
Amazing company, coverage and service.
Very reasonable rates.

[subtona]

Jewelers mutual. No problem. $10 per thousand. Not cheap but peace of mind.