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Baxterdown · 21 April 2018, 08:00 AM

Hi guys,

I applied to JewelersMutual and they want to attach a deductible to my policy. Do you have any other carrier recommendations? I don't want to tie the watch's insurance to my homeowners policy.

Thanks in advance!

Jose

kauffee · 21 April 2018, 08:04 AM

How much deductible? I don’t see why that’s such a big deal.

bjr011 · 21 April 2018, 08:08 AM

Quote:

Originally Posted by Baxterdown

Hi guys,

I applied to JewelersMutual and they want to attach a deductible to my policy. Do you have any other carrier recommendations? I don't want to tie the watch's insurance to my homeowners policy.

Thanks in advance!

Jose

Jewelers Mutual is the best. Best rates and low deductibles.

liuk3 · 21 April 2018, 08:14 AM

I thought the premium varied by deductible amount (i.e., you could have $0 deductible but higher premium, or higher deductible amount and lower premium)?

azs.77 · 21 April 2018, 08:23 AM

All companies have their risk management strategies. Their deductibles are fair in my opinion for the peace of mind.

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Vicious49 · 21 April 2018, 08:39 AM

Quote:

Originally Posted by liuk3

I thought the premium varied by deductible amount (i.e., you could have $0 deductible but higher premium, or higher deductible amount and lower premium)?

That's pretty much the case with my watches and JM. I got to choose my deductible which affected my rates/premium.

kauffee · 21 April 2018, 08:49 AM

Jewelers Mutual policies seem to differ by customer. Not sure why. When I add something I also get the choice to pay a slightly higher premium for $0 deductible. But I guess that wasn’t the case for the OP.

My first JM policy was my wife’s engagement ring. When I’ve added my two watches all they needed was for me to upload the receipt. By contrast, my dad has two watches on his policy and each time he had to print out a special image and then photograph his watch on that image and email them the photo.

Vicious49 · 21 April 2018, 09:01 AM

Quote:

Originally Posted by kauffee

Jewelers Mutual policies seem to differ by customer. Not sure why. When I add something I also get the choice to pay a slightly higher premium for $0 deductible. But I guess that wasn’t the case for the OP.

My first JM policy was my wife’s engagement ring. When I’ve added my two watches all they needed was for me to upload the receipt. By contrast, my dad has two watches on his policy and each time he had to print out a special image and then photograph his watch on that image and email them the photo.

My 1st Rolex they asked for me to upload the appraisal and a special image picture. 2nd and 3rd Rolex just uploaded the appraisal. 4th one they asked for the appraisal and the picture. I don't know if there's any real consistency with them.

kauffee · 21 April 2018, 09:02 AM

Quote:

Originally Posted by Vicious49

My 1st Rolex they asked for me to upload the appraisal and a special image picture. 2nd and 3rd Rolex just uploaded the appraisal. 4th one they asked for the appraisal and the picture. I don't know if there's any real consistency with them.

Did you live in different places? I wonder if the rates and requirements change depending on your address, the way car insurance does.

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Vicious49 · 21 April 2018, 09:12 AM

Quote:

Originally Posted by kauffee

Did you live in different places? I wonder if the rates and requirements change depending on your address, the way car insurance does.

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Same place and it as all within a 4 month time frame.

kauffee · 21 April 2018, 09:36 AM

Quote:

Originally Posted by Vicious49

Same place and it as all within a 4 month time frame.

That’s just weird.

Baxterdown · 21 April 2018, 09:45 AM

Thanks for all the replies. When I completed the application I selected the higher premium and $0 deductible option. I got an email today asking for the photo on the special background and the underwriter telling me that due to their "loss experience" they will require $500 deductible for the watch.

It's BS if you ask me. They won't pay $11,350 in case of loss but they will pay $10,850? Makes no sense to me.

I'll go with them if I have not other alternative. But I'm going to first shop the policy.

So, back to my original question.... Can anyone recommend an alternative carrier?

Thanks,

Jose

kauffee · 21 April 2018, 10:04 AM

Quote:

Originally Posted by Baxterdown

It's BS if you ask me. They won't pay $11,350 in case of loss but they will pay $10,850? Makes no sense to me.

The deductible isn't really about the difference in payout. It's more about being a disincentive for you to file a claim.

Vvvlllooo · 21 April 2018, 10:05 AM

After a year you can get 0 deductible

GreatScott · 21 April 2018, 09:41 PM

I use state farm, it is cheap, have you tried them?

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Baxterdown · 21 April 2018, 10:35 PM

Good morning guys!

My AD suggested GemShield. I completed an app. Have you guys had any experience with them?

21 April 2018, 08:00 AM	#1
Baxterdown 2024 Pledge Member Join Date: Mar 2018 Location: South Florida Posts: 25	Insurance Hi guys, I applied to JewelersMutual and they want to attach a deductible to my policy. Do you have any other carrier recommendations? I don't want to tie the watch's insurance to my homeowners policy. Thanks in advance! Jose

21 April 2018, 08:14 AM	#4
liuk3 "TRF" Member Join Date: Dec 2011 Location: Los Angeles Posts: 3,354	I thought the premium varied by deductible amount (i.e., you could have $0 deductible but higher premium, or higher deductible amount and lower premium)? __________________ "Appreciate your life!"

21 April 2018, 08:04 AM	#2
kauffee 2024 SubLV41 Pledge Member Join Date: Jun 2008 Real Name: Matt Location: Portland, OR Watch: 116610LN, 116500LN Posts: 1,385	How much deductible? I don’t see why that’s such a big deal.

21 April 2018, 08:23 AM	#5
azs.77 "TRF" Member Join Date: May 2017 Location: USA/Canada Watch: Rolex, AP, Panerai Posts: 823	All companies have their risk management strategies. Their deductibles are fair in my opinion for the peace of mind. Sent from my iPhone using Tapatalk

21 April 2018, 08:49 AM	#7
kauffee 2024 SubLV41 Pledge Member Join Date: Jun 2008 Real Name: Matt Location: Portland, OR Watch: 116610LN, 116500LN Posts: 1,385	Jewelers Mutual policies seem to differ by customer. Not sure why. When I add something I also get the choice to pay a slightly higher premium for $0 deductible. But I guess that wasn’t the case for the OP. My first JM policy was my wife’s engagement ring. When I’ve added my two watches all they needed was for me to upload the receipt. By contrast, my dad has two watches on his policy and each time he had to print out a special image and then photograph his watch on that image and email them the photo.

21 April 2018, 09:45 AM	#12
Baxterdown 2024 Pledge Member Join Date: Mar 2018 Location: South Florida Posts: 25	Thanks for all the replies. When I completed the application I selected the higher premium and $0 deductible option. I got an email today asking for the photo on the special background and the underwriter telling me that due to their "loss experience" they will require $500 deductible for the watch. It's BS if you ask me. They won't pay $11,350 in case of loss but they will pay $10,850? Makes no sense to me. I'll go with them if I have not other alternative. But I'm going to first shop the policy. So, back to my original question.... Can anyone recommend an alternative carrier? Thanks, Jose

21 April 2018, 10:05 AM	#14
Vvvlllooo "TRF" Member Join Date: Oct 2016 Location: Fl Posts: 202	After a year you can get 0 deductible

21 April 2018, 09:41 PM	#15
GreatScott "TRF" Member Join Date: Jan 2018 Location: In a house Posts: 845	I use state farm, it is cheap, have you tried them? Sent from my Pixel 2 XL using Tapatalk

21 April 2018, 10:35 PM	#16
Baxterdown 2024 Pledge Member Join Date: Mar 2018 Location: South Florida Posts: 25	Good morning guys! My AD suggested GemShield. I completed an app. Have you guys had any experience with them?

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