who getting insurance on many watches

[patek97]

I have insurance on two watches daytona and patek but like to put 4 more on my policy,are most people here insuring all of there watches.
Cost of doing it is high ,anyone know of a private company that has better rates then home policy.
thanks

[www777]

I insure all. I've wondered if you agree to keep most in a safety deposit box woul an insurance company agree to let you pay insurance on the most costly assuming you only take one out at once?

[Lees23]

My home owners agent advised against insuring jewelry on my home policy. He reasoning was if you have jewelry claim and within 5 yrs have storm damage you are likely to be dropped and have to pay high premiums. Essentially that the jewelry claim rate is somewhat high. Suggested using a independent company. Anyone else heard this.

I quoted my wife's ring, my Rolex and my Breitling(roughy $29k)around $330/yr with no deductible. Seems high to me.

[Wllnv19]

I insure all my watches so I can wear them without worrying about the consequences

[T. Ferguson]

Try Jewelers Mutual. You can get a quote on their website.

[thomaspp]

I Don't insure all of them, just the "special ones" (aka over 10k refs).

[rolex_DateJust]

I've never looked into insuring jewelry before... I don't mean to jack this thread but how should I go about that? How exactly does the insurance work lets say if I go with jewlers mutual? I have 3 rolexes and a bunch of gold I would love to ensure but not sure how it works and what a good price would be

[raclaims]

I insure them all and it's ridiculously expensive

[Rags]

Originally Posted by rolex_DateJust

I've never looked into insuring jewelry before... I don't mean to jack this thread but how should I go about that? How exactly does the insurance work lets say if I go with jewlers mutual? I have 3 rolexes and a bunch of gold I would love to ensure but not sure how it works and what a good price would be

Get an appraisal first then go to the JM site. It's real easy & reasonable.

[Le Chef]

On a separate policy through Chubb. I can take my favorite watches to the darkest corners of the planet and not worry.

[Rolex addict]

Originally Posted by Lees23

My home owners agent advised against insuring jewelry on my home policy. He reasoning was if you have jewelry claim and within 5 yrs have storm damage you are likely to be dropped and have to pay high premiums. Essentially that the jewelry claim rate is somewhat high. Suggested using a independent company. Anyone else heard this.

I quoted my wife's ring, my Rolex and my Breitling(roughy $29k)around $330/yr with no deductible. Seems high to me.

I insure all of mine through State Farm with a rider policy. Homeowners has a limit on jewelry and furs. The Rider policy is about 1 percent of the value per year with a $100 deductible. $330 with no deductible is about right. Insurance and routine maintenance is something to consider when calculating if you can afford a Rolex (or a sports car for that matter) or not. It shouldn't be called insurance. It should be called "in case sh!t happens." You can go without it, but don't complain if something happens.

[Lees23]

Originally Posted by Rolex addict

I insure all of mine through State Farm with a rider policy. Homeowners has a limit on jewelry and furs. The Rider policy is about 1 percent of the value per year with a $100 deductible. $330 with no deductible is about right. Insurance and routine maintenance is something to consider when calculating if you can afford a Rolex (or a sports car for that matter) or not. It shouldn't be called insurance. It should be called "in case sh!t happens." You can go without it, but don't complain if something happens.

I guess you missed the point of my post. I didn't say that I can't afford it, I said that 330 seemed high to me. The point to my post was that my insurance agent (Travelers) suggested that I insure independently because of claim frequency. Thanks for your concern about my finances and for your advice.

[sickened1]

Originally Posted by T. Ferguson

Try Jewelers Mutual. You can get a quote on their website.

Thanks for that. I'll check them out.

[handsfull]

Originally Posted by Lees23

.....my insurance agent (Travelers) suggested that I insure independently because of claim frequency.

Sound advice. I would never insure my jewelry on the same policy as my homeowners. If you make a claim, guess what premium goes up?

Perfect Circle is the way to go (Jewelers Mutual).

[Lees23]

Originally Posted by handsfull

Sound advice. I would never insure my jewelry on the same policy as my homeowners. If you make a claim, guess what premium goes up?

Perfect Circle is the way to go (Jewelers Mutual).

Thanks.. That's the way I am leaning.

[Rolex addict]

Originally Posted by Lees23

I guess you missed the point of my post. I didn't say that I can't afford it, I said that 330 seemed high to me. The point to my post was that my insurance agent (Travelers) suggested that I insure independently because of claim frequency. Thanks for your concern about my finances and for your advice.

I didn't intend to sound like a smarta$$. I'm a very blunt and straight forward person which doesn't always come across well in email. Your insurance agent is correct about a separate policy and their rates are in the ballpark. I don't like paying either, but it's peace of mind if something happens. It would be interesting to hear from Dr. Tom on this since he has multiple PM Rolexes.

[streffert]

I have my super avenger and 16610 insured thru my local broker. I insure my business liability, workmans comp, 3 trucks, etc. she emailed me recently to let me know my watches on a separate policy were $85/year. I feel that's a fair price.

[selpo]

Originally Posted by Le Chef

On a separate policy through Chubb. I can take my favorite watches to the darkest corners of the planet and not worry.

X2

[richard371]

I have StateFarm personal articles policy on my watches. Its a bout 1% or less of the value per year. I think my agent is going nuts with me flipping often. I plan on taking a break for awhile :)

[Rock]

I contacted my home/contents insurer a few days ago on this topic.
I explained that I did not intend to take a separate policy but wished to know whether watches could be recorded as part of 'Contents', just so there was an existing record in the case of theft or fire.
After some discussion about 'replacement with new' Vs 'replacement at agreed value' we decided on 'agreed value' ($10,000K per watch) and the Serials & Model were added to the Contents Policy for an additional $35./yr.
I guess a claim would result in an increase in premium, but that's the breaks.