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HorologyK · 20 June 2015, 12:06 PM

Quote:

Originally Posted by texex91

I'm surprised as I added my Richard Mille through USAA for $115k no issues.

They will send it to underwriting, but never had an issue with any of my watches over $75k with USAA.

Ditto.

locutus49 · 20 June 2015, 12:45 PM

Quote:

Originally Posted by HorologyK

Ditto.

They later told me they thought they could get me an exception to their policy. So I'm hopeful. Thanks for the info. I'll mention it to the underwriter the next time they call, which should be Monday.

DJ TT 2002 · 20 June 2015, 12:58 PM

Quelle Dommage

K3vin · 20 June 2015, 01:01 PM

Why not install a house alarm? Not only would you be able to insure your piece, but you gain security.

Nycturbovr6 · 20 June 2015, 03:20 PM

Crazy glue it to your wrist lol

GB-man · 20 June 2015, 04:00 PM

Quote:

Originally Posted by Chewbacca

John, John, John... Mo platonas, mo problems.

i'm sure someone will take your business.

the more Rolex we come across the more problems we see

Quote:

Originally Posted by locutus49

Thanks for the replies. I'm not concerned. I've never been mugged or burgled. If I am, I'll tell them it is an Invicta.

would probably work, rolex don't make no brown watches that's fake! Gimme the wallet

Hope it works out for you john. I'm sure someone will insure you.

texex91 · 20 June 2015, 10:04 PM

Quote:

Originally Posted by locutus49

They later told me they thought they could get me an exception to their policy. So I'm hopeful. Thanks for the info. I'll mention it to the underwriter the next time they call, which should be Monday.

Let's be clear here...I know USAA policy VERY well (have 4 watches all over 'their limit' insured with them)--and I change those frequently. Any watches under $40k I don't insure (don't need a lecture). There is no 'exception' to give. NOW, the 'exception' may be YOUR circumstances do not meet their standards, in which case the underwriter WILL reject your request.

I believe $65k is their standard limit for VPP (Valuable Personal Property). You probably paid (hopefully) in the $50's for the watch, so I'm not sure why the issue. HOWEVER, even if they are going off full retail (which they can), they merely send it to underwriting, who will come back with questions and then make a determination (trust me they WANT to sell you a policy). You will NEVER speak to the actual underwriter, but rather a rep (that is frustrating I know). Every USAA member is different (credit, living situation, claims in the past, etc) so if they reject your watch, do not assume it's their blanket policy--because it's NOT.

USAA VPP is not their bread and butter, so the process can be a little difficult. However, it's a zero deduct, policy is effective in ANY country you travel and you know you will get paid quickly if something does happen.

Racerdj · 20 June 2015, 10:06 PM

I'm with State Farm without any problems.

AK797 · 20 June 2015, 10:08 PM

Quote:

Originally Posted by Chewbacca

John, John, John... Mo platonas, mo problems.

i'm sure someone will take your business.

Keith1 · 21 June 2015, 12:39 AM

Quote:

Originally Posted by K3vin

Why not install a house alarm? Not only would you be able to insure your piece, but you gain security.

This was my first thought.

If you did install an alarm, would it lower your premium on the other things you have insured?

locutus49 · 21 June 2015, 01:10 AM

This is helpful. They sent me a rejection letter today, mainly based on lack of centrally monitored alarm.

What they don't understand is that we have a very secure keypad front door to the building, and individual condos do not have alarms. Probably not permitted.

I will ask them to insure it to their limit, probably 50K, and provide the sales invoice of my actual cost. Maybe that will work. The individual alarm is a no-go in my building.

Quote:

Originally Posted by texex91

Let's be clear here...I know USAA policy VERY well (have 4 watches all over 'their limit' insured with them)--and I change those frequently. Any watches under $40k I don't insure (don't need a lecture). There is no 'exception' to give. NOW, the 'exception' may be YOUR circumstances do not meet their standards, in which case the underwriter WILL reject your request.

I believe $65k is their standard limit for VPP (Valuable Personal Property). You probably paid (hopefully) in the $50's for the watch, so I'm not sure why the issue. HOWEVER, even if they are going off full retail (which they can), they merely send it to underwriting, who will come back with questions and then make a determination (trust me they WANT to sell you a policy). You will NEVER speak to the actual underwriter, but rather a rep (that is frustrating I know). Every USAA member is different (credit, living situation, claims in the past, etc) so if they reject your watch, do not assume it's their blanket policy--because it's NOT.

USAA VPP is not their bread and butter, so the process can be a little difficult. However, it's a zero deduct, policy is effective in ANY country you travel and you know you will get paid quickly if something does happen.

Danny83 · 21 June 2015, 01:16 AM

I would try Chubb insurance

tedscott3 · 21 June 2015, 01:30 AM

Never had an issue with USAA. I am a bit surprised to hear their VPP limit is $75k? Seems low to me.

texex91 · 21 June 2015, 01:35 AM

Quote:

Originally Posted by tedscott3

Never had an issue with USAA. I am a bit surprised to hear their VPP limit is $75k? Seems low to me.

That 'limit' is their standard policy limit (every insurer has one)...anything above heads to underwriting for full review (photos, appraisal, home alarm, location, etc, etc...the fun stuff that those underwriters do of a living). It's not uncommon actually

Love USAA and like most have had them for decades, but their VPP is/can be a pain. Once you understand how to 'work their system' it's okay.

mkmk · 21 June 2015, 02:06 AM

You could install an alarm system. Many inexpensive ones work on wifi. they may request it be monitored. I know some of the phone companies could install one for you and in a condo which I assume has less windows than a house it may not be that expensive. The savings on the insurance may offset the cost of the alarm.

PerioBear · 21 June 2015, 02:44 AM

Quote:

Originally Posted by mkmk

You could install an alarm system. Many inexpensive ones work on wifi. they may request it be monitored. I know some of the phone companies could install one for you and in a condo which I assume has less windows than a house it may not be that expensive. The savings on the insurance may offset the cost of the alarm.

Yah, I believe the alarm has to be monitored for it to count towards a premium discount.

Mr. K · 21 June 2015, 03:41 AM

Quote:

Originally Posted by dennywags

Holy first world problems. Can't insure a $75,000 watch.

But sounds like such a great problem to have. Wish I did.

abovedeck · 21 June 2015, 03:42 AM

The limits on an individual policy are usually based on location and value of your home.

The general rule of thumb is that the total scheduled amount cannot be more than your actual property coverage limit (not structural).

As for your keypad, unless you live in a full service building with a 24 hour protected desk, it's a cinch to get in.

Mr. K · 21 June 2015, 04:07 AM

Protection against damage is one thing, but it is just so sad that we have to worry about protection against theft.

We enjoy our watches and work hard for them, then some thug wants to steal it.

That is just life, but it is too bad.

20 June 2015, 10:06 PM	#38
Racerdj 2024 Pledge Member Join Date: Apr 2013 Location: Indianapolis Watch: Patek-Philippe Posts: 16,832	I'm with State Farm without any problems. __________________ Rolex and Patek Philippe

20 June 2015, 12:58 PM	#33
DJ TT 2002 2024 Pledge Member Join Date: May 2013 Location: Hollywood 1950 Posts: 4,103	Quelle Dommage

20 June 2015, 01:01 PM	#34
K3vin "TRF" Member Join Date: Oct 2014 Location: norcal Posts: 151	Why not install a house alarm? Not only would you be able to insure your piece, but you gain security.

20 June 2015, 03:20 PM	#35
Nycturbovr6 "TRF" Member Join Date: Aug 2012 Location: New York Posts: 7,630	Crazy glue it to your wrist lol

21 June 2015, 01:16 AM	#42
Danny83 2024 ROLEX DATEJUST41 Pledge Member Join Date: Sep 2013 Real Name: Danny Location: Bay Area CA Watch: Yellow Gold Posts: 20,312	I would try Chubb insurance

21 June 2015, 01:30 AM	#43
tedscott3 "TRF" Member Join Date: Dec 2012 Location: San Diego Watch: 116610LV Posts: 572	Never had an issue with USAA. I am a bit surprised to hear their VPP limit is $75k? Seems low to me.

21 June 2015, 02:06 AM	#45
mkmk "TRF" Member Join Date: Jul 2009 Location: So. California Posts: 451	You could install an alarm system. Many inexpensive ones work on wifi. they may request it be monitored. I know some of the phone companies could install one for you and in a condo which I assume has less windows than a house it may not be that expensive. The savings on the insurance may offset the cost of the alarm.

21 June 2015, 03:42 AM	#48
abovedeck "TRF" Member Join Date: Apr 2015 Location: all around... Posts: 309	The limits on an individual policy are usually based on location and value of your home. The general rule of thumb is that the total scheduled amount cannot be more than your actual property coverage limit (not structural). As for your keypad, unless you live in a full service building with a 24 hour protected desk, it's a cinch to get in.

21 June 2015, 04:07 AM	#49
Mr. K "TRF" Member Join Date: May 2005 Real Name: Mark Location: Seattle-ish Posts: 6,078	Protection against damage is one thing, but it is just so sad that we have to worry about protection against theft. We enjoy our watches and work hard for them, then some thug wants to steal it. That is just life, but it is too bad.

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