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.

[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.

[PaulRP]

I'd say it's a no-brainer...get insurance!

[PatronMTL]

just upped my home insurance from 5000$ default for watches/jewelery to $20,000. Only cost 8 $ more a month (canadian dollars). also covers me for loss and theft even if it happens away from home.