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Old 5 January 2013, 05:39 AM   #1
Sedge Man
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Insurance

All,

I recently purchased two watches (from DavidSW) and, to my surprise, i received a quote of $700 per year from my insurance company for the rider to my homeowner's policy (New Jersey Manufacturer's Insurance, a reputable company).

Are there any financially strong and reputable insurance companies that may quote a lower number? This is my first go-round with this type of insurance, and maybe the $700 quote is a good number, but it just seems really high. Thanks!
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Old 5 January 2013, 05:41 AM   #2
GradyPhilpott
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You didn't say which watches that you're trying to insure, but that does seem way high.

Try Jewelers Mutual.
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Old 5 January 2013, 05:43 AM   #3
sierra11b
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I use Jewelers Mutual and pay nearly half that for four watches.

I haven't had a claim yet but have heard good things.

You need to stay up on price increases by submitting the new MSRP to them once they're published.
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Old 5 January 2013, 06:12 AM   #4
Armyguy03
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I only have 2 watches insured with USAA and I pay less than 200 a year. I would shop around.
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Old 5 January 2013, 06:14 AM   #5
Darlinboy
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Dbl post.
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Old 5 January 2013, 06:14 AM   #6
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That's crazy high. I have a separate policy through State Farm that covers everything above the standard homeowner's policy.

You need to shop around.... Maybe for more than just the watch coverage.
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Old 5 January 2013, 06:19 AM   #7
financeman
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I would definitely shop around. That sounds like you are insuring a car not a couple of watches.
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Old 5 January 2013, 06:24 AM   #8
james1787
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$700 a year sounds high to me
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Old 5 January 2013, 06:50 AM   #9
JP Chestnut
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Quote:
Originally Posted by Sedge Man View Post
All,

I recently purchased two watches (from DavidSW) and, to my surprise, i received a quote of $700 per year from my insurance company for the rider to my homeowner's policy (New Jersey Manufacturer's Insurance, a reputable company).

Are there any financially strong and reputable insurance companies that may quote a lower number? This is my first go-round with this type of insurance, and maybe the $700 quote is a good number, but it just seems really high. Thanks!
Honestly, it's impossible for anyone to give you a reasonable answer without knowing which watches you're talking about. I think $700/year to insure two PT Day Dates with diamonds would be very reasonable.
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Old 5 January 2013, 06:59 AM   #10
WhatTheDeuce
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If your two watches retail for $70,000, then $700/yr would be reasonable. Which two pieces do you have?
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Old 5 January 2013, 07:00 AM   #11
mjclark32
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Jewelers mutual.
I had NJM for my car a couple years back and liked their dividend, but was able to find a cheaper company for car as well.
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Old 5 January 2013, 07:00 AM   #12
Wllnv19
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Try Jewelers Mutual.[/QUOTE]

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Old 5 January 2013, 07:03 AM   #13
rr-nyc
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I have $50k in scheduled jewelry, including watches, and I pay $507 per year on my Liberty Mutual homeowners policy

I forgot to mention I have a $500 deductible
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Old 5 January 2013, 07:04 AM   #14
Roma315
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Thats very very very high
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Old 5 January 2013, 07:07 AM   #15
WhatTheDeuce
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BTW, Jewelers Mutual is quite expensive in NJ. They come in at 2% with $0 deductible. I use Metlife SSP attached to my homeowners. It is a hair over 1% with $0 deductible. Not sure why JM Is so expensive in NJ...

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Old 5 January 2013, 08:09 AM   #16
Sedge Man
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Thanks for all the quick responses. To answer the one question, I have a brand new all-gold Sub-C in black and a ladies date-just with the 46 diamonds and the MOP face.
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Old 5 January 2013, 10:35 AM   #17
JP Chestnut
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Quote:
Originally Posted by Sedge Man View Post
Thanks for all the quick responses. To answer the one question, I have a brand new all-gold Sub-C in black and a ladies date-just with the 46 diamonds and the MOP face.
Jewelers Mutual quoted me $675 for a 35k and 15k watch. I don't think your rates are incredibly out of line.

https://my.perfectcircleinsurance.co...lculatePremium
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