Watch Insurance for rolex

[GL08]

Hey guys, just curious, how many of you insure your watches?

And if you do, do you insure all of them? Or just a select few?

I can't imagine myself ever owning any gold rolex or PP without insuring them, what about the rest of you peeps on TRF?

wondering if other canadian people can chime in as to pricing

[ec51]

https://www.rolexforums.com/search.php?searchid=9385036

[Vivalas]

I have all 3 watches individually priced and named on my insurance. I also have 'away from home' cover as well. I've also photos of the watches, serial numbers and tags etc and proof of purchase. Plus I keep them in a safe for added security too.

[69mach351]

I will start insuring around the $3k mark on a separate line of home-owners. Losing $2k stings, but by the time I pay for the extra insurance, pay the deductable, and see the rest of the rates go up because of it, it is not worth it (I am a cautious individual too). I will generally not have more than one or two valuable watches at a time though. If I had quite a few, they would all be insured in case of a robbery or fire and all of them being lost.

[joe100]

There are probably a dozen solid threads on this topic. You might want to search and read a few.

[garymyman]

I am getting my fiance's ring and my watches insured together under a stand-alone policy (we rent) for $300/year with a $500 deductible. Through State Farm.

[V1Rotate]

I insure them all in a stand alone policy.
It's surprisingly low cost (about the price of a nice dinner for two, per 6k) and it makes enjoying them that much more worryfree if something were to happen to them. It even covers "mysterious disappearance".

The only caveat is if there is a claim, you do not receive a check, but a reimbursement AFTER you purchased a replacement watch for the appraised value. This makes sense to weed out anybody less than honest.

For me, it's worth the piece of mind for short money.

[southtexas]

Originally Posted by V1Rotate

I insure them all in a stand alone policy.
It's surprisingly low cost (about the price of a nice dinner for two, per 6k) and it makes enjoying them that much more worryfree if something were to happen to them. It even covers "mysterious disappearance".

The only caveat is if there is a claim, you do not receive a check, but a reimbursement AFTER you purchased a replacement watch for the appraised value. This makes sense to weed out anybody less than honest.

For me, it's worth the piece of mind for short money.

Which insurer do you have?

[V1Rotate]

I don't know...I don't think I'd by two for the price of one that was lost. For my needs I only have watches I'd want replaced and wouldn't substitute anything else for, so it fits my needs.

There are options for cash under certain circumstances i.e vintage pieces. I use Perfect Circle..worth checking out, reasonable prices and underwriting is super quick. You do need an professional appraisal however with picture.

I in no way am affiliated with Perfect Circle in any way. Just thought I'd through that in there. haha.

Email me if you want, I can let you know what I pay per piece annually.

[Nidal]

I pay 160$ a year for my sub LVc. Peace of mind.


Nidal

[msdaytona]

Originally Posted by GL08

Hey guys, just curious, how many of you insure your watches?

And if you do, do you insure all of them? Or just a select few?

I can't imagine myself ever owning any gold rolex or PP without insuring them, what about the rest of you peeps on TRF?

wondering if other canadian people can chime in as to pricing

I live near Vancouver BC. Mine is insured as part of the our home insurance coverage. We have a clause which explicitly lists our jewelry. After getting coverage for my SS Daytona our home insurance premium increased about 200 dollars.

[Rwatts]

I simply pay $90 annually for a safety deposit box at my local bank. I store my 4 Rolex watches in Rolex pouches and my PAM 112, Speedy Pro and IWC Cousteau Divers 1953 in leather HODINKEE pouches. I typically rotate my watches every 2-4 weeks.

[Nissanzx1]

I have $2500 coverage added to homeowners for any watch I'm wearing. I only keep 2 Rolex's at home. The rest are in the safe deposit box. I rotate watches about every 2 months...

GH

[Actsulb]

Yes! Big believer in insurance for my watch.

[mruhland31]

Yes..Jewlers Mutual..

[AK797]

Originally Posted by V1Rotate

I insure them all in a stand alone policy.
It's surprisingly low cost (about the price of a nice dinner for two, per 6k) and it makes enjoying them that much more worryfree if something were to happen to them. It even covers "mysterious disappearance".

The only caveat is if there is a claim, you do not receive a check, but a reimbursement AFTER you purchased a replacement watch for the appraised value. This makes sense to weed out anybody less than honest.

For me, it's worth the piece of mind for short money.

I don't know about that policy, what if you didn't have the cash ready to buy a new watch, could be weeks or even months without the replacement, not for me.

[AK797]

Originally Posted by Rwatts

I simply pay $90 annually for a safety deposit box at my local bank. I store my 4 Rolex watches in Rolex pouches and my PAM 112, Speedy Pro and IWC Cousteau Divers 1953 in leather HODINKEE pouches. I typically rotate my watches every 2-4 weeks.

Youre lucky, no more bank safety deposits in the UK. Barclays Bank even asked existing customers to take back their items.

[drjfc62]

Yes, as some have said, one should get the peace of mind that comes with the insurance.

[beshannon]

Originally Posted by GL08

Hey guys, just curious, how many of you insure your watches?

And if you do, do you insure all of them? Or just a select few?

I can't imagine myself ever owning any gold rolex or PP without insuring them, what about the rest of you peeps on TRF?

wondering if other canadian people can chime in as to pricing

I insure all my watches on my homeowners insurance

[AboutTime]

We have a rider on our homeowner's insurance policy covering our "good" watches and some of my wife's jewelry. It's costing us about $14 annually per $1000 of coverage, which I consider expensive.

[Cesium133]

Originally Posted by Leem

We have a rider on our homeowner's insurance policy covering our "good" watches and some of my wife's jewelry. It's costing us about $14 annually per $1000 of coverage, which I consider expensive.

Same here, but $12 per $1000 for us. Our policy has a $0 deductible and covers both theft and lost items.

[Laszlo]

Originally Posted by AK797

Youre lucky, no more bank safety deposits in the UK. Barclays Bank even asked existing customers to take back their items.

Really, you guys can't have safe deposit boxes anymore?

That's unbelievable.

[Laszlo]

Insure your jewelry under a standalone policy. It's not that much per year and if you file a claim it won't affect your home owners premium. Piece of mind.

[wjgoretsky]

I schedule mine on my homeowners policy and it's about 9.00 per $1000 up to $25,000 and the it drops to $7.50 per $1000. No deductible on scheduled items and claims don't affect homeowners policy.

I believe the broker shops the rider around with various underwriters and obtains the best pricing available. It could in fact be covered by a specialty underwriter, but it's transparent to me, as a consumer.

Winston.

[V1Rotate]

Originally Posted by AK797

I don't know about that policy, what if you didn't have the cash ready to buy a new watch, could be weeks or even months without the replacement, not for me.

Insurance policies aren't meant to fit everybody's needs universally. What works for me may not work for somebody else. This company only insures jewelry, and are the biggest insurer in the U.S.