Now that I finally have my Seamaster Planet Ocean, I'd like to insure it against loss, theft, and damage. I've seen posts mentioning Jewellers Mutual, and also read quite a few bad reviews on Yelp about them.

I understand that insuring jewelry with a Home Owners rider is considered a bad idea, as a single claim could result in your home owners policy being canceled.

So, what recommendations do you guys have for insuring my PO, which would cover replacement in the event of loss, or theft, and repair, should it be damaged?

 

I have never ever heard of a home owner policy being cancelled because of a legitimate claim.
And in terms of legitimate I mean lost or stolen. It's cheap to insure and probably the easiest. For the slim chance something would happen I would not spend additional money on another insurance coverage plan.

 

Speaking for US only, if you have a HO policy with a reputable company you will not get cancelled for a confirmed event. Stick with your reputable company if you want to insure your watch.

 

Thanks for posting pics of your watch.

..what was the question again?

 

I have a personal effects policy thru State Farm which covers my collection...more than reasonable price ... Now I wear them all the time travel with them with no worries

 

I insure a number of watches through Jewelers Mutual. The insurance is for total loss of the watch, whether it be by theft or accidentally dropping it into a river. There is no coverage for damage and repair.

I have never made a claim but on-line reviews indicate they are fair in honouring legitimate claims. They conduct their business in a professional manner and make it easy to add items or make coverage changes on-line. The premium for loss replacement is 2% of the insured value, per year. To get coverage you need to provide proof of purchase+value or an appraisal from a knowledgeable professional.

 

HO rider is the best if your with a good insurance Co.

 

I add the watches to my home owners policy. Adds a few hundred bucks but worth it. I know I'll be covered. They insure purchase price only.

 

I also currently have a personal effects policy, with State Farm, for my camera equipment. Sounds like a good idea to add my PO to the policy, though doing that is quite expensive.

 

Insuring under a personal effects rider should cost you less than scheduling it by having it appraised. Scheduled items premiums are based on a percentage of the replacement value, and the more you insure, the higher the percentage rate you pay. Whether the protection you get is as comprehensive as if you scheduled the item would be something to consider.

 

My Personal Articles policy requires that I list each and every item, along with its purchase price. I have to give a copy of my receipt too, should I make a claim. I'll call my State Farm agent in the morning and see if I can insure it for replacement cost, since I got a good deal on my PO which I doubt I'll be able to get again. I doubt there'll be an issue.

 

Hi, Last year I insured my PO Ti as an individual item with my home insurance I got a full valuation certificate form my AD with picture and serial number on it and took loads of my own. For a full replacement value £5460 it cos me £32 for 10 months for all risk. This year I changed insurer and my single article limit is £7500 so didn't need to insure it separately but I ensured a watch was covered for all risk in or away from home.
OmegaSean

 

I have a rider on my HO policy that covers guns over the normal HO amount which for State Farm is $5K and a rider that covers my SMPO and my Speedy for replacement values. I think I pay $147 annually.

 

I called State Farm yesterday. They required me to send a copy of my purchase receipt and a photo of my PO, and it'll be added to my Personal Articles policy. I was told that if I wanted to insure it for the actual replacement cost (I purchased it in the Caribbean, and got a good discount, so its unlikely that I'd be able to match the discounted price locally, should I have to replace it), I'd have to get an appraisal. I plan on doing that this week.

This was a good process for me, as I finally got around to taking some photos of my watch, with full documentation, which I can keep on my phone, and at home, should I ever need to prove that the watch is mine and when it was purchased.