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pianomankd
·Insured my Seamaster through Jewelers Mutual. Plan to add my Moonphase in the next week.
Has anyone insured their Omega?
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67ViP
·If you live in the USA, you should be able to schedule your watches and any other high value jewelry on your homeowners insurance policy. This is in addition to blanket coverage for a fixed amount that is usually part of any homeowners or renters policy. It should cover all perils, to include "mysterious disappearance"...which basically means it's gone and you don't know what happened to it. But before you file a claim under that, be advised insurance fraud is a felony in most states.
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KstateSkier
·What if Kim Kardashian bet her ass...and lost?
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drhex
·Also via home insurance, with 50k out of safe policy so I can keep my rotation out of the bank.
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Owlsu
·Can anyone in the UK recommend any standalone watch insurance (ie: not as an addition to house/contents insurance)?
I know this is a late reply, but in the UK I use a company called TH March. It's a standalone and was about £95 for a Speedmaster professional (£3,5520 RRP) for a year. In the event of loss or theft etc. you are allowed to pick a replacement watch from a shop of your own choice, compared to a lot of insurance companies where you get given vouchers for Goldsmiths or something.
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Rasputin
·Do any of these insurance companies allow you to forego having to take your watch to a jeweler for appraisal before issuing coverage? I understand some will accept a recent sales receipt for valuation but barring that it can be inconvenient to physically carry your collection to the jewelers to get it appraised.
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Speedmasterfan88
·Question for the members with insured watches:
If you have an insurance for your watches, may it be via home insurance or a special watch insurance, would you also insure the contents of a safe deposit box? Say you insured your watches, and store them in a safe deposit box at your local bank. They often offer insurance for the contents of the safe deposit box (against theft etc) for an extra fee. Wouldn't that be double insuring or over insurance?
I'm just asking as for example the safe deposit box would cost me 25€ per month. To insure the contents up to 10k€-20k-50k etc would be an additional 5-50€ a month.
Not sure if this is necessary if I've already covered the watches insurance elsewhere.
Cheers,
Max
If you have an insurance for your watches, may it be via home insurance or a special watch insurance, would you also insure the contents of a safe deposit box? Say you insured your watches, and store them in a safe deposit box at your local bank. They often offer insurance for the contents of the safe deposit box (against theft etc) for an extra fee. Wouldn't that be double insuring or over insurance?
I'm just asking as for example the safe deposit box would cost me 25€ per month. To insure the contents up to 10k€-20k-50k etc would be an additional 5-50€ a month.
Not sure if this is necessary if I've already covered the watches insurance elsewhere.
Cheers,
Max
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Motman
·I added my recently purchased Speedmaster '57 for full retail value of £6,000 onto our home policy which also gives cover away from home and it cost £23 to be added to the policy. That was for near on a full year as the policy was only a week or two old.
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RonSwanson
·Insurance regulation varies across states and countries, so the best answer is unfortunately "ask your agent" but it is common for jewelry riders on home insurance policies to be without a deductible, broad perils including mysterious disappearance, and apply to a loss that occurs anywhere in the world, be it a bank or foreign country theft. If the watch needed service after a covered peril, the insurance company is likely to want to use the brand itself. Also Rolex/Omega are going to insist on a full service in addition to repairing the damaged crown, crystal, whatever. The movement service is unlikely to be covered as it is a betterment, just the pieces directly damaged by the covered peril and labor associated. Of course this is all subject to where you live, so it could be completely wrong for you.
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oneover
·Do any of these insurance companies allow you to forego having to take your watch to a jeweler for appraisal before issuing coverage? I understand some will accept a recent sales receipt for valuation but barring that it can be inconvenient to physically carry your collection to the jewelers to get it appraised.
The short answer is yes, I have Jewelers Mutual, I have done this both ways. My first Rolex I used a local AD and the watch came with an appraisal. The second two were verified by means of my detailed receipt from a reputable seller. They sent out a template which I used as a background with the watch placed on their template. I also attached the sales receipt. In about 24 hours I was notified as my policy approved. I can go online and view my policies anytime I wish. I also made copies for my files in my safe at home.
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SteveHarris
·Question for the members with insured watches:
If you have an insurance for your watches, may it be via home insurance or a special watch insurance, would you also insure the contents of a safe deposit box? Say you insured your watches, and store them in a safe deposit box at your local bank. They often offer insurance for the contents of the safe deposit box (against theft etc) for an extra fee. Wouldn't that be double insuring or over insurance?
I'm just asking as for example the safe deposit box would cost me 25€ per month. To insure the contents up to 10k€-20k-50k etc would be an additional 5-50€ a month.
Not sure if this is necessary if I've already covered the watches insurance elsewhere.
Cheers,
Max
Max,
It's double insurance - you don't need both as long as your other policy notes they're stored in a SDB, you're OK.
Source: I insure jewellers and jewellery for a living.
Steve
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N1CK
·I know this is a late reply, but in the UK I use a company called TH March. It's a standalone and was about £95 for a Speedmaster professional (£3,5520 RRP) for a year. In the event of loss or theft etc. you are allowed to pick a replacement watch from a shop of your own choice, compared to a lot of insurance companies where you get given vouchers for Goldsmiths or something.
Thank you for replying at all dude!
In truth I'd really want cash, not vouchers to buy another watch from a store - means you can't buy vintage, or replace an LE.
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default
·Once insured a Breitling shipment with "Galle Wertversand". The Breitling loosed up the the watch box and despite having packed it professionally the Breitling Box cracked. To the watch nothing happend. The insurance thereafter claimed that the box had been already cracked before shipment and refused any sort of refund. (I had even provided pictures of the box in uncracked condition of the watch listing.) In my experience insurance companies always find a way to wind themselves out of trouble in case an insurance situation incurrs. They even have lawyers employed that focus only on that.
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SteveHarris
·Not true for all companies... you do get what you pay for even with insurance policies.
