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jphc · 10 October 2018, 05:30 AM

Hi guys,

I am looking to insure my DJ and other non Rolex watches. I have seen the home contents policies that cover this, as well as stand alone jewellery specific insurance. I am not fussed either way, as long as things are covered properly.

I have a query about claiming on a policy for a damaged watch. I understand if the watch is lost or stolen, you will get a replacement. But what if the watch is accidentally damaged?

Having had a friend with a smashed sapphire on his YM, I understand the only people who are really trusted to repair these things are Rolex themselves. The glass might have found its way into the movement and everything needs to be done properly.

Is this taken into account with these policies? Or is it the same as when you try to claim on your car insurance and they point you in the direction of the cheapest most questionable garage?

Thanks

J

TimingIsEverything · 10 October 2018, 05:48 AM

I use Jewelers Mutual. I am not sure if they also service the EU, but I know they insure my personal watches no matter where I am at in the entire world.

What you want to do is get a policy with a $0 deductible. This way if you damage the crystal or another part of the watch, you won't have to pay a deductible that may outweigh the out-of-pocket cost of getting the watch fixed. The difference in yearly premium is very nominal between a $500 deductible and a $0 deductible, at least here in the US.

For example, one of my Datejust 41s is $7,450 retail price in USD. The premium with $0 deductible is $88/year - no matter what happens to it.

123Blueface · 10 October 2018, 06:31 AM

I can’t speak for UK but can attest to 36 years of handing insurance claims and interpreting policies.
If all risk, and watch is damaged, which happened to my wife as she dropped hers on a tile floor crushing the crystal and dial, I was allowed to send it to Rolex and they paid for an authorized repair.
I would assume all risk contracts are all addressed the same. However, I will gladly review your policy and let you know.

mattyb · 10 October 2018, 07:38 AM

I’ve just had to claim on my insurance for my damaged DJ41. My insurance company received my watch at there jewellers but it got sent straight to Rolex for assessment and repair. My insurance company and the jeweller will only handle it to ship it back to me. Everything is done by Rolex.

Unfortunately it takes Rolex time to do it, 6 weeks for the quote, then a further 6-16 weeks repair turn around.

Vetracer · 10 October 2018, 09:11 AM

Why don’t you call a few insurance brokers and ask your scenarios based questions to get actual answers?

BIBA is a good place to start if you’re U.K. based. It’s a collection of brokers who compete for your business and often get you a much better deal than you going direct due to economies of scale. https://www.biba.org.uk

10 October 2018, 05:30 AM	#1
jphc "TRF" Member Join Date: Apr 2015 Real Name: J Location: London Watch: Rolex DateJust Posts: 6	Rolex insurance claim process UK Hi guys, I am looking to insure my DJ and other non Rolex watches. I have seen the home contents policies that cover this, as well as stand alone jewellery specific insurance. I am not fussed either way, as long as things are covered properly. I have a query about claiming on a policy for a damaged watch. I understand if the watch is lost or stolen, you will get a replacement. But what if the watch is accidentally damaged? Having had a friend with a smashed sapphire on his YM, I understand the only people who are really trusted to repair these things are Rolex themselves. The glass might have found its way into the movement and everything needs to be done properly. Is this taken into account with these policies? Or is it the same as when you try to claim on your car insurance and they point you in the direction of the cheapest most questionable garage? Thanks J

10 October 2018, 06:31 AM	#3
123Blueface "TRF" Member Join Date: Jun 2015 Location: USA Watch: All Posts: 5,228	I can’t speak for UK but can attest to 36 years of handing insurance claims and interpreting policies. If all risk, and watch is damaged, which happened to my wife as she dropped hers on a tile floor crushing the crystal and dial, I was allowed to send it to Rolex and they paid for an authorized repair. I would assume all risk contracts are all addressed the same. However, I will gladly review your policy and let you know. __________________ Rolex 228235 DD40 Olive, 126710BLRO, 116710BLNR, 116613LB, 116500LN White, 126610LN, 116500LN Black, 126610LV, 116610LV, 126334 Blue Diamond Breitling Navitimer 01, Cartier Santos Large

10 October 2018, 05:48 AM	#2
TimingIsEverything Banned Join Date: Feb 2012 Real Name: WatchULookinAt Location: US Posts: 564	I use Jewelers Mutual. I am not sure if they also service the EU, but I know they insure my personal watches no matter where I am at in the entire world. What you want to do is get a policy with a $0 deductible. This way if you damage the crystal or another part of the watch, you won't have to pay a deductible that may outweigh the out-of-pocket cost of getting the watch fixed. The difference in yearly premium is very nominal between a $500 deductible and a $0 deductible, at least here in the US. For example, one of my Datejust 41s is $7,450 retail price in USD. The premium with $0 deductible is $88/year - no matter what happens to it.

10 October 2018, 07:38 AM	#4
mattyb "TRF" Member Join Date: May 2018 Location: C Posts: 64	I’ve just had to claim on my insurance for my damaged DJ41. My insurance company received my watch at there jewellers but it got sent straight to Rolex for assessment and repair. My insurance company and the jeweller will only handle it to ship it back to me. Everything is done by Rolex. Unfortunately it takes Rolex time to do it, 6 weeks for the quote, then a further 6-16 weeks repair turn around.

10 October 2018, 09:11 AM	#5
Vetracer "TRF" Member Join Date: Aug 2015 Real Name: Vetracer Location: London Watch: Daytona 116500LN Posts: 584	Why don’t you call a few insurance brokers and ask your scenarios based questions to get actual answers? BIBA is a good place to start if you’re U.K. based. It’s a collection of brokers who compete for your business and often get you a much better deal than you going direct due to economies of scale. https://www.biba.org.uk

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