Quote:
Originally Posted by JRell
I get it, and I am one that thinks you absolutely should insure your Rolex. Do I insure my TVs from Best Buy, no. Because I don’t walk around with it and inexpensive to replace. But valuable items, even if I can easily self-insure as you suggested, I want insured and realize that is my choice. If I had datejust from 30 years ago about for $500 dollars, of course you don’t insure that. I also don’t insure my old Tag sitting on my dresser. But we are talking about a 70k watch. I know plenty of people that can easily afford to lose 70k, but doesn’t mean they wouldn’t insure it. If we are talking about a multiple billionaire, I mean maybe that is different, but I don’t see a billionaire going to sell his watch online either. Make sense? As I said to each their own, but I 100% don’t insure everything, and I also only ensure my Rolex at what I paid for, not market value. Just want to become whole in case something like this would happen and not add salt to the wound.
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You and I definitely would have insured a $75K watch, perhaps with a fairly high deductible, but nonetheless we would have insured it especially if we were attempting to sell it assuming it would be covered in that circumstance.
I mention that because Jewelers Mutual revised their policies years ago by adding a "Voluntary Parting Clause" to the policy. With the advent of the internet and on-line watch sales they decided the risk that something could go wrong is too great. So, if you are selling the piece and something goes wrong with payment, robbery, lost in shipping, etc, since you are parting with the object, it is not covered.
Other insurance companies may cover it, but not Jewelers Mutual.