Insurance

[iazrollie]

Now that I have acquired several watches, i think it necessary to get insurance. I called my homeowner agent and she said it is best to add them as a rider to the policy. Is that what most people do? What type of deductible do you take? Etc. Any details are helpful. Thank you.

[Jack T]

I just did the same thing. Depends on your insurer and type of policy you have, but the basic are:
Your basic policy has a very low limit of coverage and a high deductible for UNscheduled jewelry of any type, watches, rings, etc. Without scheduling the items, you could be out a lot of money.
By scheduling, you list each item and their respective values, and have, more or less, full coverage. For every $10,000 of coverage your annual premium will be around $50 or so.
Be sure to understand how your policy responds to "replacement cost" vs the "listed value". You might have paid $5,000 but it will cost $7,500 to replace due to a discontinued model, or some such variance.
I'm sure others can give more complete info, and your agent will be the best source.

[beshannon]

I have mine on my homeowners insurance with the same deductible I carry for the rest of the policy

[cop414]

Check into Jewler's Mutual, many here have it. My Sub is insured against theft as well as damage, cost less than 100.00 per year. You can do it all online but you will have to have your watches appraised first. No deductable and great peace of mind. I still need to put my other watches on the policy. I believe that they tie the cost to your home zip code.

[kbutler1]

Jewler's Mutual is the way I went. Easy and affordable.

[iazrollie]

Thanks everyone. Appreciate the input.

[kieselguhr]

In the US. Jewelers mutual. Hands down.

[bde]

I have a special Rider Policy on my homeowners insurance for all of my watches. Whichever way you go, insurance is worth the piece of mind.