Insurance

[Sedge Man]

All,

I recently purchased two watches (from DavidSW) and, to my surprise, i received a quote of $700 per year from my insurance company for the rider to my homeowner's policy (New Jersey Manufacturer's Insurance, a reputable company).

Are there any financially strong and reputable insurance companies that may quote a lower number? This is my first go-round with this type of insurance, and maybe the $700 quote is a good number, but it just seems really high. Thanks!

[GradyPhilpott]

You didn't say which watches that you're trying to insure, but that does seem way high.

Try Jewelers Mutual.

[sierra11b]

I use Jewelers Mutual and pay nearly half that for four watches.

I haven't had a claim yet but have heard good things.

You need to stay up on price increases by submitting the new MSRP to them once they're published.

[Armyguy03]

I only have 2 watches insured with USAA and I pay less than 200 a year. I would shop around.

[Darlinboy]

Dbl post.

[Darlinboy]

That's crazy high. I have a separate policy through State Farm that covers everything above the standard homeowner's policy.

You need to shop around.... Maybe for more than just the watch coverage.

[financeman]

I would definitely shop around. That sounds like you are insuring a car not a couple of watches.

[james1787]

$700 a year sounds high to me

[JP Chestnut]

Originally Posted by Sedge Man

All,

I recently purchased two watches (from DavidSW) and, to my surprise, i received a quote of $700 per year from my insurance company for the rider to my homeowner's policy (New Jersey Manufacturer's Insurance, a reputable company).

Are there any financially strong and reputable insurance companies that may quote a lower number? This is my first go-round with this type of insurance, and maybe the $700 quote is a good number, but it just seems really high. Thanks!

Honestly, it's impossible for anyone to give you a reasonable answer without knowing which watches you're talking about. I think $700/year to insure two PT Day Dates with diamonds would be very reasonable.

[WhatTheDeuce]

If your two watches retail for $70,000, then $700/yr would be reasonable. Which two pieces do you have?

[mjclark32]

Jewelers mutual.
I had NJM for my car a couple years back and liked their dividend, but was able to find a cheaper company for car as well.

[Wllnv19]

Try Jewelers Mutual.[/QUOTE]

[rr-nyc]

I have $50k in scheduled jewelry, including watches, and I pay $507 per year on my Liberty Mutual homeowners policy

I forgot to mention I have a $500 deductible

[Roma315]

Thats very very very high

[WhatTheDeuce]

BTW, Jewelers Mutual is quite expensive in NJ. They come in at 2% with $0 deductible. I use Metlife SSP attached to my homeowners. It is a hair over 1% with $0 deductible. Not sure why JM Is so expensive in NJ...

[Sedge Man]

Thanks for all the quick responses. To answer the one question, I have a brand new all-gold Sub-C in black and a ladies date-just with the 46 diamonds and the MOP face.

[JP Chestnut]

Originally Posted by Sedge Man

Thanks for all the quick responses. To answer the one question, I have a brand new all-gold Sub-C in black and a ladies date-just with the 46 diamonds and the MOP face.

Jewelers Mutual quoted me $675 for a 35k and 15k watch. I don't think your rates are incredibly out of line.

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