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Jollyb · 21 January 2022, 11:56 AM

Hi!

I'm a recently retired civil servant. Got a nice check that I earned over 35 yrs of service. Always wanted a Rolex finally had a little money and wanted to celebrate a milestone. I found a like new recently serviced 1984' Submariner . Don't think it was ever worn. I'm trying to be a sponge in my spare time and just finding the whole Rolex culture fascinating.

Anyhow here's my question.....how many of you have insurance on your Rolex? Can I ask how much do you pay annually? Anyone ever have to use it? Worth it?

Thanks!!

Feb_29 · 21 January 2022, 12:06 PM

I had jewelersmutual insurance for my DSSD. I was riding mountain bike in the woods. I lost the watch by crashing down off the cliff. They pay for my new Rolex same amount DSSD was cost when I purchased it new. The yearly policy for 12K watch was around $100 with no deductible. You can run a quote on they website for your watch.

brandrea · 21 January 2022, 12:08 PM

Welcome to the forum and congratulations on 35 years of service

Insurance tends to run about 1.5% of the value of the watch per annum (depending where you live)

arcampado · 21 January 2022, 12:13 PM

Be sure to look into Hodinkee watch insurance (underwritten by Chubb). Cost of insurance is approximately 1.25-1.5% of insured value annually and they don’t require an appraisal (just upload pics).

https://insurance.hodinkee.com/

Jollyb · 21 January 2022, 12:22 PM

Thanks for the quick replies and info!! $100 a year is a no brainer! Thanks!!!!!

JMGoodnight369 · 21 January 2022, 12:27 PM

Welcome to the black hole that is Rolex. I think you’ll find your wealth of free time well spent here! Rolex has a rich history and traction. As for the question of insurance, pretty much all of us are covered. Jewelers Mutal, HODINKEE and Chubbs are the go tos. For a sub I would wager between $100 to $140 a year. I personally use Jewelers Mutual and have no complaints. Be sure and get an appraisal for market value. That’s very important. Congrats on retirement and enjoy the submariner. It’s arguably the greatest wrist watch ever made. Cheers

Chewbacca · 21 January 2022, 12:37 PM

Welcome to the here!

skipstar · 21 January 2022, 12:46 PM

3 years away from retiring myself. Congratulations on 35 years of service. Welcome and this rabbit hole gets deep at times!!!

Bestdj777 · 21 January 2022, 12:48 PM

Welcome and congratulations on retirement! I have a separate rider on my home owner’s insurance and I believe it comes out to $30-40 extra a year for roughly $8,000 in insurance. It may be worth asking your insurance company what they charge.

shaunylw · 21 January 2022, 12:51 PM

I used hodinkee/chubb for around $16,000 it’s $215 a year.

Cigars&Watches · 21 January 2022, 02:08 PM

I just use my home owners insurance at minimal cost. Downside of this is they would only cover original price I paid and not market value to replace my CHNR for instance…

Check all options and see what’s best and let us know.

928ktgold · 21 January 2022, 04:58 PM

I’m using my Farmer’s home insurance policy. They cover appraised values and I update them as they go up with a new appraisal. This can get tedious as these prices keep rising every few months

Little machines · 21 January 2022, 07:55 PM

Congratulations on your retirement!! Welcome to the forum !!

HogwldFLTR · 21 January 2022, 08:07 PM

Congratulations; the need for insurance varies depending on the environment one lives in. I personally only insure the higher cost pieces. I agree with using Hodinkee for insurance as it's easier to update the value of the watch based on appreciation.

Bill2e · 21 January 2022, 08:47 PM

Quote:

Originally Posted by JMGoodnight369

Welcome to the black hole that is Rolex. I think you’ll find your wealth of free time well spent here! Rolex has a rich history and traction. As for the question of insurance, pretty much all of us are covered. Jewelers Mutal, HODINKEE and Chubbs are the go tos. For a sub I would wager between $100 to $140 a year. I personally use Jewelers Mutual and have no complaints. Be sure and get an appraisal for market value. That’s very important. Congrats on retirement and enjoy the submariner. It’s arguably the greatest wrist watch ever made. Cheers

Is there a reason you go with outside insurance vs a rider on your homeowners policy?

Pricing seems very similar and I have everything else under my one agent.

Rolex.Journey · 22 January 2022, 02:45 AM

Went with hodinkee. It was like 114$/year for for my explorer 2 valued at around 9500$ I believe. I only have it for that watch so I can wear it on vacations and when I’m out and about in LA and places like that.

Sent from my iPhone using Tapatalk

m j b · 22 January 2022, 06:43 AM

I put my watches on a itemized rider on my homeowner's insurance.

Congrats on the retirement!

S7gpt · 22 January 2022, 07:13 AM

ours are on home insurance, as others have said they just cover to replace new from dealer though !

PS 35 years in local government here too, just 2 years left if I retire early :)

21 January 2022, 11:56 AM	#1
Jollyb "TRF" Member Join Date: Jan 2022 Location: Florida Posts: 3	Hi! New Rolex owner question!! Hi! I'm a recently retired civil servant. Got a nice check that I earned over 35 yrs of service. Always wanted a Rolex finally had a little money and wanted to celebrate a milestone. I found a like new recently serviced 1984' Submariner . Don't think it was ever worn. I'm trying to be a sponge in my spare time and just finding the whole Rolex culture fascinating. Anyhow here's my question.....how many of you have insurance on your Rolex? Can I ask how much do you pay annually? Anyone ever have to use it? Worth it? Thanks!!

21 January 2022, 12:46 PM	#8
skipstar "TRF" Member Join Date: Jan 2020 Real Name: Kevin Location: Northeast Watch: My first, Sub Date Posts: 1,941	3 years away from retiring myself. Congratulations on 35 years of service. Welcome and this rabbit hole gets deep at times!!! __________________ 116610LN \| 126610LV \| 126710 BLRO \| 116500LN \| 124300 Green, Wife’s \| 126334 Blue w/Diamonds, Wife’s \| 126710 BLNR Wife’s Tudor M79360N-0002 \| M79230B-006 Wife’s

21 January 2022, 08:07 PM	#14
HogwldFLTR 2024 ROLEX SUBMARINER 41 Pledge Member Join Date: Aug 2012 Real Name: Lee Location: 42.48.45N70.48.48 Watch: Too many to list! Posts: 33,692	Congratulations; the need for insurance varies depending on the environment one lives in. I personally only insure the higher cost pieces. I agree with using Hodinkee for insurance as it's easier to update the value of the watch based on appreciation. __________________ Troglodyte in residence! https://www.rolexforums.com/showthread.php?t=808599

22 January 2022, 06:43 AM	#17
m j b "TRF" Member Join Date: Mar 2011 Real Name: Michael Location: RTP, NC, USA Watch: ♕& Ω Posts: 5,215	I put my watches on a itemized rider on my homeowner's insurance. Congrats on the retirement! __________________ Enjoy life - it has an expiration date. Disclaimer: Please note that the avatar is not an accurate representation of how I look. The camera adds 10 pounds...

21 January 2022, 12:06 PM	#2
Feb_29 "TRF" Member Join Date: Jan 2022 Location: USofA Posts: 322	I had jewelersmutual insurance for my DSSD. I was riding mountain bike in the woods. I lost the watch by crashing down off the cliff. They pay for my new Rolex same amount DSSD was cost when I purchased it new. The yearly policy for 12K watch was around $100 with no deductible. You can run a quote on they website for your watch.

21 January 2022, 12:08 PM	#3
brandrea 2024 SubLV41 Pledge Member Join Date: Jul 2013 Real Name: Brian (TBone) Location: canada Watch: es make me smile Posts: 78,074	Welcome to the forum and congratulations on 35 years of service Insurance tends to run about 1.5% of the value of the watch per annum (depending where you live)

21 January 2022, 12:13 PM	#4
arcampado "TRF" Member Join Date: Jan 2020 Real Name: Andrew Location: USA Watch: Too many Posts: 2,397	Be sure to look into Hodinkee watch insurance (underwritten by Chubb). Cost of insurance is approximately 1.25-1.5% of insured value annually and they don’t require an appraisal (just upload pics). https://insurance.hodinkee.com/

21 January 2022, 12:22 PM	#5
Jollyb "TRF" Member Join Date: Jan 2022 Location: Florida Posts: 3	Thanks for the quick replies and info!! $100 a year is a no brainer! Thanks!!!!!

21 January 2022, 12:27 PM	#6
JMGoodnight369 "TRF" Member Join Date: Dec 2018 Location: Georgia USA Posts: 373	Welcome to the black hole that is Rolex. I think you’ll find your wealth of free time well spent here! Rolex has a rich history and traction. As for the question of insurance, pretty much all of us are covered. Jewelers Mutal, HODINKEE and Chubbs are the go tos. For a sub I would wager between $100 to $140 a year. I personally use Jewelers Mutual and have no complaints. Be sure and get an appraisal for market value. That’s very important. Congrats on retirement and enjoy the submariner. It’s arguably the greatest wrist watch ever made. Cheers

21 January 2022, 12:37 PM	#7
Chewbacca Banned Join Date: May 2012 Real Name: CJ Location: Kashyyyk Watch: Kessel Run Chrono Posts: 21,112	Welcome to the here!

21 January 2022, 12:48 PM	#9
Bestdj777 "TRF" Member Join Date: Dec 2021 Location: DC Posts: 110	Welcome and congratulations on retirement! I have a separate rider on my home owner’s insurance and I believe it comes out to $30-40 extra a year for roughly $8,000 in insurance. It may be worth asking your insurance company what they charge.

21 January 2022, 12:51 PM	#10
shaunylw "TRF" Member Join Date: Jun 2013 Location: Here Posts: 4,652	I used hodinkee/chubb for around $16,000 it’s $215 a year.

21 January 2022, 02:08 PM	#11
Cigars&Watches "TRF" Member Join Date: Jul 2020 Location: Canada Watch: DSSD, CHNR, SUB Posts: 1,682	I just use my home owners insurance at minimal cost. Downside of this is they would only cover original price I paid and not market value to replace my CHNR for instance… Check all options and see what’s best and let us know.

21 January 2022, 04:58 PM	#12
928ktgold 2024 SubLV41 Pledge Member Join Date: Mar 2007 Location: LA Watch: what’s next. Posts: 1,224	I’m using my Farmer’s home insurance policy. They cover appraised values and I update them as they go up with a new appraisal. This can get tedious as these prices keep rising every few months

21 January 2022, 07:55 PM	#13
Little machines "TRF" Member Join Date: Feb 2019 Real Name: Joseph Location: USA Posts: 2,652	Congratulations on your retirement!! Welcome to the forum !!

22 January 2022, 02:45 AM	#16
Rolex.Journey "TRF" Member Join Date: Apr 2021 Location: CA Watch: Sub Posts: 327	Went with hodinkee. It was like 114$/year for for my explorer 2 valued at around 9500$ I believe. I only have it for that watch so I can wear it on vacations and when I’m out and about in LA and places like that. Sent from my iPhone using Tapatalk

22 January 2022, 07:13 AM	#18
S7gpt "TRF" Member Join Date: Oct 2021 Location: Leeds Watch: 126610ln YM37 wife Posts: 553	ours are on home insurance, as others have said they just cover to replace new from dealer though ! PS 35 years in local government here too, just 2 years left if I retire early :)

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