Insure Your Watch?

[Gladiat0r]

All watches and jewelry are insured. Piece of mind is everything.
It’s done through my homeowners policy and they insure based on purchase receipts, which works fine for me.

[GONZO2LR]

Originally Posted by JJ Irani

Hi James,

I've never bothered in almost 27 years of Rolex owning, wheeling and dealing.

JJ

your lucky as hell..Man!!....too many times....it only takes one time...

[GONZO2LR]

Originally Posted by RT

Does that affect your Homeowner Insurance (good) standing with the company?

I was warned many times by various people NOT to file claims against my (Homeowner) Insurance unless the loss is very large. Last year, our washing machine went haywire and flooded the whole house. The repairs amounted to around $2000 but we "ate" the loss for fear of a premium increase and worst yet, cancellation. I was told that once it is cancelled, not many other companies will sell you insurance on your house because it has been "black marked". When it is does. very few future buyers will want to "stuck" with an uninsurable house.

It may be all hogwash. I stand corrected if somebody else has different information on this subject.

I have filed claims...car, homes, jetski....you are paying a premium monthly or yearly...why not...that is why you are paying for..

Yes i have had insurance companies cancel my policy and i find another every time...but to read someone tells you that you are blacklisted is stupid....

i pay under $100 yearly on my sub...

[travist803]

I added my watch to my USAA homeowners policy, it increased my premium by $200/yr to cover a $20k watch, i think that its worth the peace of mind.

[brandrea]

How this thread didn’t get shut down is remarkable.

[puma1552]

Just going to add mine to my homeowners policy under extended jewelry coverage.

Personally don't see the need to go to a third party, set up another account to deal with logging into, and having another bill to manage, all while ending up on multiple junk email lists in the process.

[Gladiat0r]

Originally Posted by brandrea

How this thread didn’t get shut down is remarkable.

Don’t give any ideas please lol
It’s a nice thread

[KatGirl]

Originally Posted by East of Eden

A small caliber, but I suppose Bond relied on his superior shot placement, lol.

I’m thinking gun images are against forum rules….

Kat


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[KatGirl]

Buying a safe, for my very large collection. I actually went to a safe store, in Sacramento, a few weeks ago.

Kat


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[KatGirl]

Originally Posted by bwalkerVintage

I just have a blanket policy for my possessions.

In general, a Homeowner’s policy needs a separate jewelry rider, to insure expensive watches..

Kat


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[georgew]

Originally Posted by KatGirl

In general, a Homeowner’s policy needs a separate jewelry rider, to insure expensive watches..

Kat


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a basic homeonwers policy only covers maybe $5k of jewelry etc (total). I have a specific itemized jewelry list (wife's jewelry, and includes watches) for anything over $2.5k in value. Given the last 3 yrs or so of inflated rolex pricing, I'm updating those 2012 appraisals next month. And everything not worn goes in the (very heavy) basement safe. Personal preference I know

[Alex71168]

Originally Posted by worktolivelife

have my white gold daytona insured! costs me £8-9 month covers everything including accidential damage not just theft but loss or just pure idiot factor i drop it damage the case "new case" covered!! home and on holidays abroad. worth it it me! IMHO

steve

Out of interest who do you insure that through?

[Seddyspaghetti]

Ibtl

[Colorado_kid]

Those that have insured through Jeweler's Mutual have any feedback?

I just got a quote from them for six watches for $765/yr. Ouch. But I guess it's peace of mind hmm?

My first thought was if I can keep all of them safe for 10 years that's like a new Rolex Explorer. ha (although in 10 years an explorer will probably be 20k :((()

When getting the quote, they asked me for "market value". I just gave them current retail pricing. They also request an appraisal be completed and uploaded at a later date.

Watches quoted:
116710LN GMT Master ii
126613LB "Bluesy"
126334 DJ41 "Minty"
126234 DJ36 "Wifey Minty"
Q3978430 Jaeger-LeCoultre Reverso Tribute Green
Tudor BB58

We wear them all a lot and pretty much everywhere.

What I also found interesting is they said they also fix damages, such as a clasp that breaks or crystal.

[Socalwatchguy]

Hodinkee insurance seems to be the easiest to deal with and very competitive pricing...
I also like the fact that they have appreciation protection.

All of my watches are insured... it is worth the peace of mind in my opinion

[Xky]

Originally Posted by worktolivelife

have my white gold daytona insured! costs me £8-9 month covers everything including accidential damage not just theft but loss or just pure idiot factor i drop it damage the case "new case" covered!! home and on holidays abroad. worth it it me! IMHO

steve

It’d cost me £100 per month to insure that watch as a single watch in London.


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[stephentross]

Hodinkee is the agent and CHUBB is the insurance company. I have CHUBB insurance (via Hodinkee) on everything. Pricing is amazing and all insured for market value vs msrp.

[Deepsea Florida]

Waste of money.
It’s like setting the premium money on fire.

Odds are nothing will ever happen. If it gets stolen is your life going to change ?
Obviously the odds are greatly towards you will never need it. That’s the way the insurance company makes money.

Personally I take a pass.

[Gmtchicago]

I insured through Hodinkee/Chubb after researching Jeweler's Mutual and an addon to my home insurance.

I had an appraisal done as I needed one to add to my homeowners but Hodinkee is nice in that you don't need an appraisal. Hodinkee is stated value vs some nebulous fine print defined market value minus depreciation through my home insurance company. Jewelers Mutual will replace your lost property, not cut you a check.

I bought insurance bc I'd be too worried about wearing my watch otherwise.

[dubins930]

I have mine insured. But I don’t take it off to do water sports and such so it’s more for when I lose it to the deep….

[Billfish]

I lost a Sub a few years back offshore out of Virginia Beach. No insurance

[JPJ]

I'm in Australia, and specialist watch insurance appears to be way more expensive. Just received a quote for my GMT Master II and 126610LV, based on the list price.... and came in at 2.75%.

If I were to get a quote based on market value, and add in the other 4 the price would start getting up there!!

Watches are either on my wrist or in a safe, I don't leave 'em sitting around.

[Colorado_kid]

Based on recent feedback, it seems Hodinkee/Chubb is preferable to Jewelers Mutual.

Getting a quote now through Hodinkee.


Oddly, I'm not as concerned with one watch getting stolen (out wearing it or at a hotel or something) but more that our entire watch box or safe gets ripped out of our house while we're away.

This day and age with social media and whatever, if someone wants into your house, they'll know exactly when to do it.

[Colorado_kid]

I can't seem to find it now but recall a thread about a guy in San Francisco that insured through Hodinkee and had his Patek stolen.

He said it was a nightmare of an experience. But the thread brought up more questions than answers ... so not sure.

[Wario406]

Hodinkee for me.

[worldfamoussam]

I schedule my watches and such items on my Chubb policy. Having lost a very expensive bracelet once I was very glad to have done so. If you are so well-off that you would not care much about being out of pocket to replace something, you can "self-insure" (not insure), but if you'd be very upset to be out the value of what you have, I'd insure. I also live in a city and while I'm aware and careful, I like to wear my nice things. I do calculate that someone may confront me for them sometime and I'd rather be in a position to hand them over without worry over the loss.

[Auric Goldfinger]

Originally Posted by Colorado_kid

I can't seem to find it now but recall a thread about a guy in San Francisco that insured through Hodinkee and had his Patek stolen.

He said it was a nightmare of an experience. But the thread brought up more questions than answers ... so not sure.

It was a nightmare because of the suspicious circumstances surrounding his loss which caused Chubb to really dig deep.

Any insurance carrier would do the same thing.

[brandrea]

Premium fatigue got to me so I opted out of insurance years ago.

I can buy a new Submariner or GMT every 5 years on the savings

[alphadweller]

I self insure my watches.

I live in a relatively safe area, so I don't feel the need to insure watches.

Insurance companies where I live are a PITA if you make a claim. So, I only insure what I consider necessary (house, cars, life, medical treatment).

When it comes to jewelery and luxury watches, they'll charge you a whopping 3% of their value where I live (annually).

Thanks, but no thanks.

[1William]

Maybe we have a thread and someone can direct me there but I would like to know members experiences when they have made a claim. Specifically Hodinkee/Chubb.