J.W.B
11
Watch Insurance !!!
Hello ....
I have been an avid reader of this forum since i got a Rolex for my 18 birthday present and think its fantastic, i am rather young at 21 and have a few issues with watch insurance. The main way i insure my watches is through the content value of my parents house, it seems to get swallowed up in it with little to no increase on the monthly cost. The problem is that i have recently moved out and have to fend for myself against the large insurance companies/banks where the content of my flat is minimal and the highest value items are my watches. I have found a few quotes, but most don't want to insure me. I have my eyes set on a Nautilus which i will be getting in Feb, but getting it insured has been a bit of a problem. I was wondering if you had any suggestions, loopholes and advice you could give me as i seem to have hit a dead and very expensive conclusion so far
Jack
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Watch Insurance !!!
Hello .... I have been an avid reader of this forum since i got a Rolex for my 18 birthday present and think its fantastic, i am rather young at 21 and have a few issues with watch insurance. The main way i insure my watches is through the content value o...
Jack, firstly welcome to the forum............
Secondly, I see that you live in the UK, so I shall follow this thread with some interest, as I am about to renew my current policy and I'm in the same position as yourself i.e. my watches far out weigh any other item for value. Ideally I would just like ...
Insurance
In the US, the most economical way is the "schedule" the watches on a homeowners insurance policy. There are companies that will insure high value items separately, but they will definitely extract a higher price. Best of luck. Nat
Agreed, schedule the valuable items
Your policy will have a detailed list of insured valuables over and above your basic contents. The cost is roughly 2% of the replacement cost per year with discounts if you have monitored security, good claims experience, valuables in a safe etc. The cove...
2%
Thank you for the ideas, i would happily pay 2% if i could its just a pain in the ass finding it. The bank idea does seem to be good, but i don't think i have the maturity to keep going back and fourth.
There are basically two types of insurance
First one to insure the watch as a luxury item in the house or flat contents. In that case, you shall carefully read the clauses because the deductible and the calculation of the value of the watch in case of claim can lead to a much smaller compensation....
Safe Deposit box
For the record, in the US, a regular home owner insurance policy does NOT cover items in a safe deposit box at a bank. If the bank were robbed (extremely rare), you'd be out of luck. I think theft of a watch is extremely rare unless you leave a watch at h...
It's true and it's also the case in Europe.
Of course, the contents of the bank safe is not covered by the home insurance. My point of view is when the insurance covers are not satisfactory, you shall reduce the risks. So I have nothing at home except the watch on my wrist. If the bank is robbed, y...
I doubt bank's safe are insured....
first of all, bank does not know what you put in the safe, so how can they insure it? What I do is I put the watch in the safe and buy an external insurance to cover them. It's very cheap when the watches are in the safe. When I need to wear them, I will ...
Alternative to insurance
I find insurance to be a rather expensive option, plus i do not trust insurance companies these days. I am reasonably careful and after many years of collecting watches and traveling to most parts of the globe, i have not had any watches stolen. i use a s...