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datejustrms · 15 February 2020, 02:35 AM

Was wondering if those who insure their watches are getting new appraisals and increasing their coverage after the recent price increases?

beshannon · 15 February 2020, 02:36 AM

I have not

Buckaroo Banzai · 15 February 2020, 02:37 AM

I put all values of my watches at market price, so no I have not.

037 · 15 February 2020, 02:38 AM

I haven't either. Insurance companies typically pay less than MSRP on replacements so I'm not too concerned about it.

SN13 · 15 February 2020, 02:40 AM

I've insured my large pieces at the invoiced price.

If I had a Daytona C that I spent $20k on I'd want to insure it for that. If I had spent $13k on it, would I want it insured at 20+? I'm not sure I would.

The reality is that I'd want to re-purchase the watch but would I be inclined to pay Grey premium? Or just hold out for an AD purchase again? Probably the latter.

Watchflair · 15 February 2020, 02:42 AM

Absolutely - no reason not to have them at market value - not sure I can scrounge up another Daytona SS from my AD

DonRickles · 15 February 2020, 02:44 AM

Just because MSRP has risen doesn’t automatically increase the values across the board. So, no.

envuks · 15 February 2020, 03:23 AM

Quote:

Originally Posted by Watchflair

Absolutely - no reason not to have them at market value - not sure I can scrounge up another Daytona SS from my AD

My thoughts are the opposite. If I had an insurance loss, I’m sure my AD would allocate me another. Had a friend of friend who is close with the same AD leave his Daytona on a plane a few years back. AD sold him another pretty quickly

To answer the OPs question, whenever my insurance states they need new appraisals is when the values will be updated for me. That generally every few years at renewal time.

Big Green · 15 February 2020, 04:43 AM

I think it depends on the insurance company. I know USAA is recognized as a dealer in itself and therefore the price isn’t a big concern - they just replace the model or give you the price they pay which is a significant difference from MSRP.

jvb.nc · 15 February 2020, 04:44 AM

all of mine are insured for full replacement value: i.e., i just added my 126710BLRO to my policy at $17,000 replacement value.

my entire collection is insured for replacement value, for about $1500/year.

daytonayacht · 15 February 2020, 07:12 AM

Insured all for retail price, not bothered about making a profit

oversteerdawg · 15 February 2020, 09:49 AM

A tip I can share is to get a real TL-30 rated safe. When I got my safe, my premium for the rider on watches/jewelry dropped 80%!

I should have bought the safe years ago...the reduction in insurance costs would have more than paid for it by now.

datejustrms · 16 February 2020, 04:43 AM

Thanks for the feedback guys.

RHIII · 16 February 2020, 04:46 AM

All my watches are insured for MSRP at the time of purchase. That’s it.

jaisonline · 16 February 2020, 05:05 AM

What insurance company do you use? I can’t use my home owner’s insurer as they only max out at $10k per watch if I bought a jewelry plan.

Quote:

Originally Posted by oversteerdawg

A tip I can share is to get a real TL-30 rated safe. When I got my safe, my premium for the rider on watches/jewelry dropped 80%!

I should have bought the safe years ago...the reduction in insurance costs would have more than paid for it by now.

Brny11 · 16 February 2020, 05:28 AM

Quote:

Originally Posted by datejustrms

Was wondering if those who insure their watches are getting new appraisals and increasing their coverage after the recent price increases?

After 3 years with SubC I recently did. Got it for 7, had it appraised at MSRP, and recently reappraised at market.

Sent from my iPhone using Tapatalk

Tomas Eriksson · 16 February 2020, 05:41 AM

I have my collection reappraised annually.

upsidedownbelt · 16 February 2020, 05:50 AM

Quote:

Originally Posted by Big Green

I think it depends on the insurance company. I know USAA is recognized as a dealer in itself and therefore the price isn’t a big concern - they just replace the model or give you the price they pay which is a significant difference from MSRP.

I also have USAA and have been told they have some sort of relationship with Rolex, but have never understood what it is. Is it your understanding they would be able to source a hard to get piece?

oversteerdawg · 16 February 2020, 06:21 AM

Quote:

Originally Posted by jaisonline

What insurance company do you use? I can’t use my home owner’s insurer as they only max out at $10k per watch if I bought a jewelry plan.

Berkshire Hathaway

15 February 2020, 02:35 AM	#1
datejustrms "TRF" Member Join Date: Jan 2012 Location: USA Watch: Rolex Posts: 2,799	Increasing insurance coverage? Was wondering if those who insure their watches are getting new appraisals and increasing their coverage after the recent price increases?

15 February 2020, 02:36 AM	#2
beshannon "TRF" Member Join Date: Jun 2009 Real Name: Brian Location: Northern Virginia Watch: One of Not Many Posts: 17,892	I have not __________________ IWC Portugieser 7 Day, Omega Seamaster SMP300m, Vacheron Constantin Traditionnelle Complete Calendar, Glashutte PanoInverse, Glashutte SeaQ Panorama Date, Omega Aqua Terra 150, Omega CK 859, Omega Speedmaster 3861 Moonwatch, Breitling Superocean Steelfish, JLC Atmos Transparent Clock

15 February 2020, 02:40 AM	#5
SN13 "TRF" Member Join Date: May 2015 Location: Florida Posts: 1,124	I've insured my large pieces at the invoiced price. If I had a Daytona C that I spent $20k on I'd want to insure it for that. If I had spent $13k on it, would I want it insured at 20+? I'm not sure I would. The reality is that I'd want to re-purchase the watch but would I be inclined to pay Grey premium? Or just hold out for an AD purchase again? Probably the latter. __________________ IG@Construction_Time --- 1986 DD 18038 --- 1992 YM 16628 --- 2015 116600 SD4K --- SBDX001 MM300 --- 2009 Omega Ploprof White --- 2010 Omega LE LMPO

15 February 2020, 02:42 AM	#6
Watchflair 2024 SubLV41 Pledge Member Join Date: May 2012 Real Name: Jim Location: Westchester NY Watch: Love em all Posts: 5,920	Absolutely - no reason not to have them at market value - not sure I can scrounge up another Daytona SS from my AD __________________ Remember what matters. Value everyday

15 February 2020, 04:43 AM	#9
Big Green "TRF" Member Join Date: Apr 2017 Location: USA Watch: BLNR/116500LN/APRO Posts: 161	I think it depends on the insurance company. I know USAA is recognized as a dealer in itself and therefore the price isn’t a big concern - they just replace the model or give you the price they pay which is a significant difference from MSRP. __________________ Current Collection, in order of wrist time Rolex326934/IWC500705/Rolex116710BLNR/Rolex116500LN/AP15400ST Wife: Rolex178274/BreitlingB13050 (My Father's)

15 February 2020, 02:37 AM	#3
Buckaroo Banzai 2024 Pledge Member Join Date: Apr 2019 Real Name: Steve Location: Katy Watch: 12671 Posts: 379	I put all values of my watches at market price, so no I have not.

15 February 2020, 02:38 AM	#4
037 2024 Pledge Member Join Date: Feb 2018 Location: USA Posts: 6,173	I haven't either. Insurance companies typically pay less than MSRP on replacements so I'm not too concerned about it.

15 February 2020, 02:44 AM	#7
DonRickles Banned Join Date: Jan 2020 Real Name: Don Location: Vegas Nite Club Watch: Your mouth Posts: 2,315	Just because MSRP has risen doesn’t automatically increase the values across the board. So, no.

15 February 2020, 04:44 AM	#10
jvb.nc "TRF" Member Join Date: Nov 2018 Real Name: Jonathan Location: NC / CA Watch: 228206meteorite Posts: 1,333	all of mine are insured for full replacement value: i.e., i just added my 126710BLRO to my policy at $17,000 replacement value. my entire collection is insured for replacement value, for about $1500/year. __________________ 116710blnr / 116610lv / 216750 polar / 126600 mk1 / 116500ln / 126710blro / 228206 meteorite / 126719 meteorite / Pelagos 25600 // insta @jvbphotos

15 February 2020, 07:12 AM	#11
daytonayacht "TRF" Member Join Date: Aug 2010 Real Name: Ian Location: scotland Watch: 116520/116500LN Posts: 124	Insured all for retail price, not bothered about making a profit

15 February 2020, 09:49 AM	#12
oversteerdawg "TRF" Member Join Date: May 2015 Location: CA Posts: 25	A tip I can share is to get a real TL-30 rated safe. When I got my safe, my premium for the rider on watches/jewelry dropped 80%! I should have bought the safe years ago...the reduction in insurance costs would have more than paid for it by now.

16 February 2020, 04:43 AM	#13
datejustrms "TRF" Member Join Date: Jan 2012 Location: USA Watch: Rolex Posts: 2,799	Thanks for the feedback guys.

16 February 2020, 04:46 AM	#14
RHIII Member Join Date: Jul 2014 Real Name: Roger Location: ... Watch: AP/Rolex/PP Posts: 6,309	All my watches are insured for MSRP at the time of purchase. That’s it.

16 February 2020, 05:41 AM	#17
Tomas Eriksson "TRF" Member Join Date: Apr 2015 Location: Stockholm Watch: 15707CE Posts: 2,027	I have my collection reappraised annually. __________________ State of the union: 5066A,15400ST,15707CE,116610LN,26470OR and a few other…

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