Just thought I'd leave this here, as it comes rather unexpected.

https://www.hodinkee.com/articles/hodinkee-insurance-launch

I'll try it out myself before passing judgement.

 

Insurance from a publishing company feels like getting my car worked on by the staff at the McDonald’s drive-thru.

 

I may consider it as well. Of course cynically it also gives them a lead on watches for their retail operation.

 

Its through Chubb.

 

"HODINKEE Insurance is available right now and is open to anyone with a United States address"

well, no need for me to consider it then at the moment.

 

I think it's a great idea. I'm going to try it.

 

I dunno... For some reason I think I'd prefer to bundle my personal article policy with the rest of my insurance.

 

I guess I should see how much my VPP policy is through USAA because I don't recall off the top of my head. It looks like my one and only Speedmaster would cost around $75 a year to insure based on the chart they have.

 

Hats off to them. That is a great idea. Too bad it’s only US based. The next item will have to be shipment insurance.

 

Here's the thing - if you do have a loss and have to make a claim, that counts against all your claims, and can raise your rates overall. So if it's less to insure elsewhere, it may be worth it.

 

Great idea and hope the rates are competitive and payout is fast. I'm skeptical as always, since insurance companies in general are happy to take the premium but quick to deny claims.

 

Insurance is a mine field at the best of times. Like rcs914 said, what happens to your premium rate if you claim against them. I also wonder how many claims are denied per 100 claimants. Insurance companies are in the business of keeping as much money as the can.

Time will tell

 

As much bashing as they get there's no denying they are constantly evolving.

This is a great initiative for the watch community.

 

Looking at their estimates, the rates are pretty good. Look to be about 10 - 15% less than the current stand alone jewelry policy I have. But... do I want to give them my money is the big question... (I understand it goes through Chubb, but clearly they’re getting a cut.)

 

Imagine they get paid a commission like any other insurance broker. That is basically what they are doing by placing it with chubb

 

It's a good idea. Adjusting my home insurance requires a phone call to someone who knows nothing about the watches I'm trying to insure. And values are always going up and down (as is my watch collection).

Might give it a try when it comes to the UK. But only if the price is comparable to what I already pay of course.

 

Might insure my travel alarm now

 

From their example chart premiums seem to be about 1% / year of insured value. Not bad for standalone insurance. It was inevitable that someone was going to disrupt an antiquated industry like insurance, similar to what Lemonade has done, and IMO Hodinkee was well positioned to do this.

 

For my insurance I need an appraisal of each watch to be insured. It seems that I skip that step as they would (I assume) appraise against my listed value. It just seems a faster cleaner process for collectors like us that have constant changes in our collections

 

Just tried pricing a Rolex watch - $15k insured value comes out to $210 / year so 1.4%.