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15 October 2019, 05:35 AM | #1 |
"TRF" Member
Join Date: Aug 2015
Real Name: Michael
Location: UK
Watch: 116400GV/16610
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Watch valuation
So I need to get my watches valued for the insurance policy...
Can anybody tell me if I will need to take my reciepts to show proof of ownership or do I just need to take in the paperwork/ card with the watch? |
15 October 2019, 05:38 AM | #2 |
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Real Name: Jonathan
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Watch: P-01
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A lot of times your AD could write u a valuation.
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15 October 2019, 05:41 AM | #3 |
"TRF" Member
Join Date: Aug 2015
Real Name: Michael
Location: UK
Watch: 116400GV/16610
Posts: 37
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15 October 2019, 06:01 AM | #4 |
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Location: Staffs UK
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I am guessing but not sure how an AD would give a valuation, I was advised to insure mine for ‘market value’ in these strange times (not done it yet mind, the thread acted as a get it sorted reminder)
Would be interested in hearing others opinions on it though Sent from my iPhone using Tapatalk |
15 October 2019, 06:05 AM | #5 |
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Real Name: John
Location: La Jolla, CA
Watch: Platona
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I used my receipt. USAA homeowners insurance. They may or may not cover it, they are running it by the underwriters.
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15 October 2019, 06:30 AM | #6 |
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Join Date: Aug 2019
Location: United Kingdom
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Log on internet
Go to ripe insurance Put in serial numbers Put in market value Insured in 10 Minutes Not the cheapest but one of the best Insured for loss theft mugging also accident such as dropping It's full cover better than any household It's world wide cover Your immediate family will also be covered if they wore your watch You get what you pay for.... Piece of mind |
15 October 2019, 06:37 AM | #7 |
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Real Name: Nick
Location: Las Vegas
Watch: 1601
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The place you purchased should offer a valuation/appraisal for free. Otherwise companies like jewelers mutual should accept proof of purchase.
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15 October 2019, 06:44 AM | #8 |
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Location: DFW
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For the standard insurance providers (like State Farm, etc.) proof of purchase is only valid for a year after purchase. Most jewelers that sell watches will also provide an appraisal whether you bought the watch there or not, although they’ll likely charge you something for it. It costs them basically nothing so you can probably negotiate (I’d bring some $20’s in my pocket). Definitely check with the place you originally bought the watches though.
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15 October 2019, 07:10 AM | #9 |
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Location: Florida, USA
Watch: Rolex/AP/Vin Omega
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A Rolex AD can do an insurance appraisal for $100 for one, $165 for two. However they will only appraise for the current model MSRP. That doesn't help much if lost and you can't get the watch again at MSRP, or if it's discontinued. Although it should be fine for these two pieces.
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15 October 2019, 07:36 AM | #10 |
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Location: London, England
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15 October 2019, 07:44 AM | #11 |
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Join Date: Jun 2018
Location: SE PA USA
Watch: GMT/SUB/Daytona
Posts: 869
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Check you homeowners policy or call your agent. My policy in the US (Travelers) Has a built in valuables clause, $10,000 per item claim with a max of $30K. I did actually add a separate jewelry policy with watches that were above that and I used my store receipts and watch photo to send to them for proof of value and ownership.
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15 October 2019, 07:56 AM | #12 |
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Location: USA
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I am about to use this - will do this tonight
https://www.valuemystuff.com/us/home you might find them helpful as well |
15 October 2019, 08:03 AM | #13 |
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Location: USA
Posts: 2,702
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Just ask your AD for an appraisal and then give that to the insurance company.
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15 October 2019, 08:16 AM | #14 |
"TRF" Member
Join Date: Aug 2015
Real Name: Michael
Location: UK
Watch: 116400GV/16610
Posts: 37
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Thanks for all the answers!
I will contact my local AD tomorrow morning and get it all sorted! |
15 October 2019, 08:37 AM | #15 |
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Join Date: Nov 2018
Location: CA
Watch: 116610LV
Posts: 128
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I got all watches appraised for insurance purposes and sent the report to insurance company. They are going to insure with $2,500 deductibles. Peace of mind and insured at market value.
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15 October 2019, 08:43 AM | #16 |
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Real Name: Matt
Location: Wine Country, Ca
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My insurance company requires an appraisal on any watch over $5000 regardless of if you have a receipt or not. I have local jewelry stores that will appraise watches. I have also had a watch appraised when it went in for service so there are many ways to have it done.
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15 October 2019, 08:45 AM | #17 | |
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Quote:
They even cover if someone rips the watch off my wrist.
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15 October 2019, 08:54 AM | #18 |
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Real Name: Louis Nick Ric
Location: Michigan, USA
Watch: Blnr, Expll, Subs,
Posts: 10,172
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Take and show everything you can to help bring the appraisal up in value. My AD gave me a free appraisal on every purchase for over msrp. My jeweler took pics and gave complete appraisels for $45. on my used pieces.
Sent from my SM-G970U using Tapatalk |
15 October 2019, 09:38 PM | #19 |
"TRF" Member
Join Date: Aug 2015
Real Name: Michael
Location: UK
Watch: 116400GV/16610
Posts: 37
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All sorted now thanks!
Cost £65 per watch. |
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