how many of you have insurance on your watches?

[NinoToronto]

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)

[todd.hepburn]

I'm curious about the value threshold to insure a watch. $2k? $10k?

I'd like advice here too.


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[todd.hepburn]

I'm curious about the value threshold to insure a watch. $2k? $10k?

I'd like advice here too.

[Professorfingers]

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.

[Seattle911]

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?

[slide13]

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.

[todd.hepburn]

What's covered on a policy like this? Theft and damage? Theft only?


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[Speed]

Originally Posted by NinoToronto

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)

Why wouldn't you get insurance?

[Jack T]

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.

[Tridor]

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.

[JCZ5]

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.


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[aquanaut]

Yes...all of them!

[Boothroyd]

Yes, on State Farm homeowners insurance policy.

[RedwoodDweller]

State Farm personal articles policy. $75/yr for my SD43.

[WhiskeyKoffee]

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.

[indy78]

Originally Posted by WhiskeyKoffee

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.

I had a blanket jewelry policy through Chubb to cover my wife's wedding ring and my watches. I carried it for years and fortunately never had to make a claim. I did not renew it last year and probably should have knowing my luck.

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.

[bdex75]

Originally Posted by indy78

I had a blanket jewelry policy through Chubb to cover my wife's wedding ring and my watches. I carried it for years and fortunately never had to make a claim. I did not renew it last year and probably should have knowing my luck.



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.

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.


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[doubleosullivan]

100% I use jewelers mutual, cheaper than my renters insurance.

[beshannon]

All of my watches and my wife's jewelry are insured

[strongarms]

Travelers....Part of the homeowner's policy.

[Mystro]

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.

[miles813]

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.


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[wach16]

I have insurance for all three of mine...the peace of mind is worth the cost imo

[torifile]

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.

[Rockrolex]

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.

[DKS2375]

Jewelers Mutual on three watches and our wedding bands.

[Otaru1987]

USAA $108/year for $12,268(price I paid with tax)coverage on SD43. They do no depreciate for age if loss occurs.

[watchmework]

I've got insurance on my Rolex, worth the cost to have peace of mind.

[droptopman]

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...

[Wcdhtwn]

Have it on all my watches with home owners insurance. Absolutely insure your watches.