Watch Insurance - in the UK

[Black Baron]

Having very recently bought a D serial 16613 I thought I had better get it added to my insurance but my insurer tells me that their max value is £2,500 so I need to either start a completely new insurance policy with a different company that includes high value watches or find someone that offers a stand alone watch insurance.

Can anyone from the UK suggest/recommend anyone please?

By the way, I just got a quote from Hiscox for just contents cover and it was more than double what I currently pay for both buildings and contents cover!

Cheers
Simon

[Chris B]

You should change insurers.

My own home contents insurer requires written appraisals on valuables over £5000, other than that there's no hassle whatsoever

http://www.regalinsurance.co.uk/defaulttest.aspx

I'm sure others will chime in but hope this helps

[Black Baron]

Originally Posted by Chris B

You should change insurers.

My own home contents insurer requires written appraisals on valuables over £5000, other than that there's no hassle whatsoever

http://www.regalinsurance.co.uk/defaulttest.aspx

I'm sure others will chime in but hope this helps

The jewelers I bought it from have given me an insurance quote/letter specifically for my insurance but I thought it would just be a matter of a quick phone call to my current insurer and send them my invoice and letter from the jewelers, but it's not turning out that easy

I'll get a quote from the people you have recommended, see how they fair.

Thanks

[RJC]

Hiscox for me!

[NickTruswell]

I just added it onto the contents insurance as a seperate item. Just had to answer some questions about the security measures at the house and then was fine

[DiamondJack]

I'm insured with Aviva for my buildings and contents insurance and as well as being really competitive, they also have up to £25k for itemised valuables which would cover jewellery, cameras and watches. Standard things like TVs and Hi-fi and everything else has no limit and is new for old. So just things you are likely to be leaving the home with.

Clearly, my addiction has meant I'm way over the limit and am now looking for a seperate specialist insurer - so any ideas welcomed. But, for up to £25k, Aviva are definitely worth a look.

[paulbucknall]

Direct Line was the most reasonable I found.

[TB72]

Remember you'll not get a quote from Aviva if your using a comparison website. Best to check their price directly on their website. When you do this go through Top Cash Back or Quidco so that if you take the policy you get about £50 back.

[Rossrolex]

Went through a similar exercise recently for three watches which were on the house insurance. TH March will provide a quote for your watches but I found it was a bit cheaper keeping them on a house insurance policy as named items. As mentioned above, if you shop around you will find a good deal somewhere as insurance providers have offers throughout the year. Barclays was most competitive for me.

[amaninspired]

As with anything, you need to read the fine print. Many household insurers will cover high-value items, but in the small print they will state that replacements will have to be sourced through their network of approved suppliers. Quite often, this will mean trying to source jewellery through H. Samuel or someone similar. Failing that, they will negotiate a cash settlement for sometimes as little as 60% of replacement value.

Before anyone shoots me down, someone I know was recently told to try and replace an expensive (approximately £1,000 valuation) necklace from H. Samuel. It does happen and, needless to say, she was pretty upset at this obviously stupid suggestion. The insurer actually went as far as to suggest that she could obtain, if not an identical, an equivalent, item or items from H. Samuel before being told that 20 cheap necklaces are not equivalent to one nice one! It does happen and, as we all know, the equivalent of a Rolex is...erm...well...only an identical Rolex.

Other companies might have deals with (for example) Goldsmiths, but if you need to replace a Daytona through your local branch, good luck. There is also the difficulty that not all Goldsmiths stock Rolex.

I recently got some quotes and TH March seemed very expensive.

The best deal that I seemed to be able to find was Hiscox. Their quote was very reasonable and it was based upon household contents cover (I have separate buildings insurance) and the overall replacement value of my watches. Their policy is to seek to obtain replacement items from the original retailer (wherever possible). So, should the worst happen, you can go back to your local independent AD and they are much more likely to be helpful than a chain store with whom you have never dealt before.

Hope this is helpful.

[BH13GMT]

good timing guys

I am about to look around for insurance on watches and jewellery. I keep adding my watches to my existing contents policy and there must be a point when a specific policy seperate from home and contents is the best move, a basic totting up on watches and jewellery gets me close to £25k in combined value. I will pass on any advice i get as and when. In the mean time I will be watching with interest.

[SC11]

My building and contents insurance is with Halifax I have cover for any single item unlisted up to £2500 and added my Sub-C listed and works out at £48 a month.

[newsboy]

Been with Hiscox myself for 3years they seem to be the best for blanket cover so you don't have to name watches

[Richard.]

If a flexible, accommodating insurer is what you're looking for then try Chubb. I think they call their premium household policy "Masterpiece". I just agree a maximum total value with them for watches. I've never had to claim for one but have had a couple of claims for other issues and the service has been impeccable.

Unfortunately, this doesn't come cheaply.

[amaninspired]

Originally Posted by pitbull666

My building and contents insurance is with Halifax I have cover for any single item unlisted up to £2500 and added my Sub-C listed and works out at £48 a month.

Check your small print. The reason I started getting quotes was because I checked the terms of my policy with Halifax. They are covered by what I was talking about above.

[Yoda]

Originally Posted by newsboy

Been with Hiscox myself for 3years they seem to be the best for blanket cover so you don't have to name watches

I am with Hiscox's. Paying over £1k just to insure my watches. They specified what safe they wanted in my house and had to update my alarm and locks. My watches have to be either on my wrist on in the safe, can not lying around at home! Top tip if you are planning to buy a single watch for over £40k take into consideration the added insurance premium.

[Time2time]

Crikey Hiscox sound like hard work & expensive!

My 3 are with our home insurance. Completey covered, no alarms or safes needed.

Just have to to update them when there's a price rise, (alot in recent months ).

No appraisals, just told them serials Nos. etc.

Easy.

[SC11]

Originally Posted by amaninspired

Check your small print. The reason I started getting quotes was because I checked the terms of my policy with Halifax. They are covered by what I was talking about above.

My Halifax policy lists the Signet group as a supplier and when I checked this covers a replacement via either H Samuels, Ernest Jones or Leslie Davis !

Not had to claim for a watch but on a lost ring a year back I was given a new value replacement via my local Lesley Davis.

Unless this has recently changed !

[Grumpy Badger]

In a British slant on what a lot of out brethren from across the pond would say...

Mine is insured by Messrs Holland &Holland and Mr Webley.

[Chris B]

Two glasses of pino & I read that as Messrs Holland–Dozier–Holland lol

[amaninspired]

Originally Posted by pitbull666

My Halifax policy lists the Signet group as a supplier and when I checked this covers a replacement via either H Samuels, Ernest Jones or Leslie Davis !

Not had to claim for a watch but on a lost ring a year back I was given a new value replacement via my local Lesley Davis.

Unless this has recently changed !

Around where I am, none of them stock Rolex, which is why I changed from Halifax Insurance. I really wanted to draw people's attention to this issue as I'm sure there are many who haven't read the small print in their policies.

[Grumpy Badger]

Originally Posted by Chris B

Two glasses of pino & I read that as Messrs Holland–Dozier–Holland lol

[SC11]

Originally Posted by amaninspired

Around where I am, none of them stock Rolex, which is why I changed from Halifax Insurance. I really wanted to draw people's attention to this issue as I'm sure there are many who haven't read the small print in their policies.

I agree you must always check the small print but you have pointed out an issue I never looked into as we have a Lesie Davis local which is a Rolex AD and quite a few which are in a hours drive.

Sam

[SeamasterGMT]

Mine is insured as a named item on the home insurance with barclays. £40 per year for the Deepsea valued at £7070. That includes theft and accidental damage either at home or away from the home.

[Scubasteve]

Well DONT use thee AA as I had my Rolex Sub stolen the other wknd and after a visit with the loss adjuster today have been told that all I will be offered is £1500, Gutted....

[afc333]

Originally Posted by pitbull666

My building and contents insurance is with Halifax I have cover for any single item unlisted up to £2500 and added my Sub-C listed and works out at £48 a month.

Originally Posted by SeamasterGMT

Mine is insured as a named item on the home insurance with barclays. £40 per year for the Deepsea valued at £7070. That includes theft and accidental damage either at home or away from the home.

Had my sub put on the home insurance as well like seamasterGMT and mine came in at about £30 a year extra for loss/damage etc value £5k... Sam, £48 extra a month seems a lot or am I missing something.