Rolex Insurance

[ianeverton]

Hi all,
Probably been asked many times before, but what is the best insurance company in the UK that covers Rolex watches please?
I have 3 Rolex now and want to get them insured for full amount of what they are worth.
Thanks in advance.
Ian

[Neil McCauley]

Watching this thread.

So far, I've struggled to find a reliable, easy-to-deal-with service that is as straightforward as buying car insurance.

Huge gap in the market, in the UK at least.

[Bozzie1982]

I've just added them to my home insurance. I have a few which are also insured away from the home including international travel.

From memory I think it was an additional £80 to the premium for 4 watches.

The insurance company is frontier. All ammendments can be be done online which is nice.

As with all insurance conpanies I can't say how good they are until I claim which I hope never happens.

[Harry-57]

My home insurance policy covers most of my watches. My 116610LV is covered separately by Ripe Insurance.

[Mr Ben]

I use M&S premier which is perfect for me but it depends on the value of individual items and the total. It covers anything up to £15k per watch and £50k total for watches and jewellery without having to specifically list anything or declare ongoing changes.

It also does buildings, unlimited contents and covers things like bikes and art with some pretty customisable options. If you are over these limits it’s harder.

[Neil McCauley]

Originally Posted by Bozzie1982

I've just added them to my home insurance. I have a few which are also insured away from the home including international travel.

From memory I think it was an additional £80 to the premium for 4 watches.

The insurance company is frontier. All ammendments can be be done online which is nice.

As with all insurance conpanies I can't say how good they are until I claim which I hope never happens.

What about the details relating to value - as in purchase value vs market value?

I have concerns that companies will only pay out purchase prices and not market values.

[Bozzie1982]

Originally Posted by Neil McCauley

What about the details relating to value - as in purchase value vs market value?

I have concerns that companies will only pay out purchase prices and not market values.

For markets values I presume that will only apply to discontinued models, if it's a current model that can be purchased from an AD the market value won't come into play I guess.

I have valuation certificates for my 2 discontinued models.

[Neil McCauley]

Originally Posted by Bozzie1982

For markets values I presume that will only apply to discontinued models, if it's a current model that can be purchased from an AD the market value won't come into play I guess.

I have valuation certificates for my 2 discontinued models.

I wouldn't be satisfied with that.

What if I'd bought my watches on the grey market?
or
I bought a Daytona at MSRP, and then I needed to replace it due to theft, but I can't and only get what I paid

This is what I mean about it being really not straightforward and simple... feels like a niche corner of the industry that needs a shakeup

[Hendrikus]

The short answer is that if you have a large collection and/or high value watches, getting insured in the UK is a complete nightmare. A huge gap in the market for someone who could come up with a viable product....

[Bozzie1982]

Originally Posted by Neil McCauley

I wouldn't be satisfied with that.

What if I'd bought my watches on the grey market?
or
I bought a Daytona at MSRP, and then I needed to replace it due to theft, but I can't and only get what I paid

This is what I mean about it being really not straightforward and simple... feels like a niche corner of the industry that needs a shakeup

2 of mine are via the grey market and I've sourced valuation certificates. As for those from an AD you'd have to speak to the Ibsurance companies to see if they will go from market value even if it's still a current model. I'm guessing some will..... And I'm sure that will come with an added premium.

[Mr Ben]

It is a shame - there are a couple of specialists starting to come into the market but I found them unbelievably expensive.

It’s turned into a bit of a game for me “what’s my ideal watch collection within my insurance limits?” I guess it’s one way of capping how much I spend on watches. That blue dial VC overseas will need to wait for now…

[Neil McCauley]

Originally Posted by Hendrikus

The short answer is that if you have a large collection and/or high value watches, getting insured in the UK is a complete nightmare. A huge gap in the market for someone who could come up with a viable product....

I completely agree

There must be some pitfalls around it, which may be why it's not been set up yet properly. I guess, also especially here in the UK in and around the big cities, owning any kind of luxury watch is considered a risky business, and therefore, insurance cover will be quite expensive.