Horological Meandering

I got quoted an annual premium of 1.5% of insured value. Is that fair? Is insuring my watches worth it in the first place?

I was quoted a little over two percent a few years ago. Cheers Edward

I was quoted 2% before. Discounts if you set up your security systems like Fort Knox Your location must be safe fir only 1.5%. Regards MTF

So, I preferred to opt for a safe at the bank. Less costly and risky for my family even if it's more annoying when you want a watch from your collection. Best wishes Alkiro

Full replacement of listed watch when stolen / lost or irreparable damage. Full reimbursement of repair costs. Worldwide coverage. I have to be clear about wear and tear. What if the watchmakers say I need a worn (damaged) movement replaced. Can I make a ... 

....my insurance requires that I keep my watches in a safebox in a secured bank. I can take any one of them out for up to 30 days at a time. So, i lose the convenience of having my watch box in my house where I can debate what I wear. On the other hand, i... 

I believe the quote you received is pretty much in line. These rates can vary depending upon the amount insured and companies may have you do more to reduce risk on higher valued items. I think it would be prudent on your part to inquire how a loss would ... 

whether or not you choose to insure your wealth , could depend on your cash flow as well, I heard of people paying insurance all life and never having a claim, and guess what the insurance company loved them for it. I just hope this was not the only love ... 

That is my thought too. Pay my whole life but not having to claim. But we never know. I did have to put in as much details on the list so that there's no ambiguity in the list. Even mentioned the reference number.

Leaving the self-insured topic and focusing more about an insured piece which has been stolen. Having a detailed description of the item with reference numbers, etc. is all well and good but how is the claim handled? If you purchased the watch new, do you...