Insurance question

[Hawaiian Sub]

If I decide to insure my Sub, will the sales receipt act as an apprisal since I just bought it last week? Thanks.

[Bama]

I don't think so. When I bought mine the AD told me that they would have to do a separate appraisal and that the sales receipt is not sufficient in most cases. I could be wrong and hopefully someone else will correct me if I am.

[OysterDavid]

Originally Posted by Hawaiian Sub

If I decide to insure my Sub, will the sales receipt act as an apprisal since I just bought it last week? Thanks.

Each insurance company is different. You'll have to get in touch with your individual company and see what, if any, documentation they're looking for. Some companies want a lot, others don't need any for items up to a certain amount.

Be careful about overinsuring your watch. Many companies will just arrange to replace your piece with like kind and quality and no money changes hands. Insurance companies may be evil, but they're not dumb. Generally, they're not going to hand over full retail price money and let you buy another at a discount and pocket the difference.

[waltk1026]

Your AD should give you an appraisal paper for insurance purposes.

[tomski12]

Originally Posted by OysterDavid

Each insurance company is different. You'll have to get in touch with your individual company and see what, if any, documentation they're looking for. Some companies want a lot, others don't need any for items up to a certain amount.

Be careful about overinsuring your watch. Many companies will just arrange to replace your piece with like kind and quality and no money changes hands. Insurance companies may be evil, but they're not dumb. Generally, they're not going to hand over full retail price money and let you buy another at a discount and pocket the difference.

Not necessarily. Most carriers will pay acv(actual cash value) for an item lost or stolen. They base that on the appraised value, generally.

[LouCan]

You need an appraisal from your AD. I just appraised my Z TT YM. The $135.00 yr covers my appraisal of $9975.00. It can be done online with Jewelers Mutual once you have the appraisal. You need to fax it to them. Just follow there directions. your yearly amount will be less . The AD faxed me the appraisal The same day i called him. easy to do.

[Tombstone]

Yes I too agree with what has been said, I was required to have a separate appraisal for each watch. From time to time most insurance companies make you update the appraisal(s) as well, so don't think that your first appraisal is your last that is not the case. Most ADs whom you purchased the watch from will do them for free. Another reason why I love buying from ADs.

[Hawaiian Sub]

Thanks. I will give them a buzz.

[Pete G]

Allstate wanted a copy of the receipt for my most recent watch. No appraisal necessary.

[Tombstone]

Pete
That is nice I wish I had it that good. How easy is that?

[SPACE-DWELLER]

If you always keep the certificate SEPARATE from the watch (when your watch is in its box), you are sure that you would always have the certificate, and that proves you owned the watch if it were stolen.

[LouCan]

Allstate is the worst insurance co to have. Dont go with them. Sorry pete G . this is personalbetween Allstate and me. They tried to Screw me and probably will ! Still in litigation with them. Looooooooooooong story