Home Insurance

[Matty1]

Quick question. My current moonwatch professional is insured worldwide under my home insurance. Given it’s the 1863 and its value for insurance was the last RRP, should I be upping it to the latest rrp even if it’s a different watch now? Any advice on this? Thanks

 

[Jonathan40]

M Matty1

Quick question. My current moonwatch professional is insured worldwide under my home insurance. Given it’s the 1863 and its value for insurance was the last RRP, should I be upping it to the latest rrp even if it’s a different watch now? Any advice on this? Thanks

For the minimal difference in premium I’d increase it to latest rrp.

 

[Matty1]

So to the latest coaxial version. I guess that makes sense if I wanted a new moonwatch rather than a used one as replacement.

 

[YY77]

M Matty1

So to the latest coaxial version. I guess that makes sense if I wanted a new moonwatch rather than a used one as replacement.

I doubt it works like that, the current market value of yours isn't €8.6k (sapphire on bracelet) is it?

 

[Matty1]

Sapphire on bracelet. Absolutely mint blah blah.

 

[Scarecrow Boat]

M Matty1

Given it’s the 1863 and its value for insurance was the last RRP, should I be upping it to the latest rrp even if it’s a different watch now?

M Matty1

So to the latest coaxial version. I guess that makes sense if I wanted a new moonwatch rather than a used one as replacement.

You want to insure your 1863 Speedy for the value of a new 3861 Speedy so in the event yours is lost/stolen, you can get a new 3861 instead of a used 1863?

 

[Matty1]

No. I didn’t say this. I asked what should I be doing for insurance purposes.

 

[Matty1]

I would want one as mint as mine, full set with original invoice and coffin as a replacement though

 

[Duracuir1]

You’ll get the best answer from your insurance company. But show us a photo of your watch anyway, just to make this more fun.

 

[Evitzee]

As pointed out you need to talk to your insurance agent. It sounds like you want to insure your 1863 watch for a value that will enable you to replace it with a 3861 coaxial watch if it is lost or stolen since the 1863 is discontinued by Omega. Not sure you will be able to do that, a 3861 watch is not the same as your 1863 watch.

 

[Hbbfam]

I had a 2007 Rolex explorer II stolen from my gym locker. I had carried a 5k rider and never updated. I have replacement value as part of my regular home owner ins. They paid me over 10k. I would check w your carrier.

 

[Matty1]

Evitzee

As pointed out you need to talk to your insurance agent. It sounds like you want to insure your 1863 watch for a value that will enable you to replace it with a 3861 coaxial watch if it is lost or stolen since the 1863 is discontinued by Omega. Not sure you will be able to do that, a 3861 watch is not the same as your 1863 watch.

I just want to ensure I have enough in the pot to buy something equivalent to what I have.

 

[RevZMan123]

My home owner's Insurance goes based on what I tell them is the replacement cost. Search it out, how much would it cost you to buy the same watch today? That's what you tell them is the insurance value.

Places like hodinkee automatically up the coverage each year to accommodate the typical rise in costs, etc.

 

[Japanred]

Lots of companies now insure an agreed value. Shop around if yours doesn't.