Certificate of Insurance

[krattzz]

Quick question and hello to everyone! Will the AD give me a paper showing the value of the watch, not what I paid, so I can submit to my home owners insurance so its covered? Peace!!!!

[DSJ]

The AD should provide you an appraisal or certificate of replacement value for the full MSRP of the watch, if you request it.

[Baptistman]

Welcome, you may need to ask for it, but they should respond by providing a valuation free of charge.

[vh_bu98]

I got certificates of insurance for both Rolexes that I bought from different ADs at no charge so you shouldn't have an issue.

[TheDude]

I had my AD fax copies to my insurance agent. He happily obliged and mailed me two copies as well.

[cmr]

Originally Posted by krattzz

Quick question and hello to everyone! Will the AD give me a paper showing the value of the watch, not what I paid, so I can submit to my home owners insurance so its covered? Peace!!!!

i had reeds give me 2 appraisal sheets for my gmt2c. on for me and one for state farm. i put it on a personal property policy with non depreciation and appreciation clauses. it will pay to replace it 100% no matter it's value up or down as long as i own it. 77.00/year, 0 deduct. if it is worth 50,000.00 or what ever 30 years from now and some thing happens to it, (stolen/lost bla bla bla) they will pay it's current value.

[krattzz]

Very helpful info, thank you.

Should I call my current home owners and ask them to add a rider on to the policy or should I get a separate policy that you are calling "personal property policy".

[SPACE-DWELLER]

Your AD will probably not GIVE you an appraisal, but charge you 150 $ for it. At least that is the normal AD fee for making an appraisal.

[vh_bu98]

Originally Posted by SPACE-DWELLER

Your AD will probably not GIVE you an appraisal, but charge you 150 $ for it. At least that is the normal AD fee for making an appraisal.

RSC charges $150 for an appraisal. Most ADs will provide one for free upon purchase.

[SPACE-DWELLER]

Sorry, my bad.

[BTSinAustin]

I got replacement value certs on both my new DJ (new at time) and my wife's 20ish year old DJ for free from my AD. He also added her engagement ring, several sets of diamond earrings, bracelets, necklaces etc. I think the cost of the rider on our home owners was under a hundred a year. Money very well spent.

[cmr]

Originally Posted by krattzz

Very helpful info, thank you.

Should I call my current home owners and ask them to add a rider on to the policy or should I get a separate policy that you are calling "personal property policy".

state farm required a separate personal property policy. they also have the insurance on my home and all of my cars and truck. contact you agent and tell him what you want and he will tell you what is required by your insurance company. just make sure it is insured for replacement value, no depreciation and for appreciation both. one thing is for sure. the price of a new one won't be less in the future and none of us can look into the future to tell if it will be worth more in the years to come. i am no speculator but if you asked someone if they thought their double red sea dweller was going to be worth a small fortune in the future they would have probably laughed at you. i am the kind of guy that would rather be safe than sorry.

edit to add,

my ad also gave me the appraisals for free.

[Road Warrior]

Originally Posted by krattzz

Very helpful info, thank you.

Should I call my current home owners and ask them to add a rider on to the policy or should I get a separate policy that you are calling "personal property policy".

I had a seperate policy for my watches that was for 100% replacement value no deductable. If I had my watches added to my homeowners policy all it would take would be for one of my watches to get stolen & then my homeowners rates would be jacked up through the roof. With a seperate policy, your homeowners would not be affected if there is a claim on the watch policy. It's good peace of mind for what it would take to replace just one of my watches.

[etp095]

Originally Posted by Road Warrior

I had a seperate policy for my watches that was for 100% replacement value no deductable. If I had my watches added to my homeowners policy all it would take would be for one of my watches to get stolen & then my homeowners rates would be jacked up through the roof. With a seperate policy, your homeowners would not be affected if there is a claim on the watch policy. It's good peace of mind for what it would take to replace just one of my watches.

this is exactly what my state farm agent advised me to do.my yearly premium is $50,no deductable,for my ss sub,stated value of$5590.my ad gave me a free appraisal.

[krattzz]

Can any of you that did not go through your home owners policy give me the name of the companies you used to insure watch only?

[Hamilton Carvalho]

You're supposed to get an apraisal showing the full value of the watch. I got mine free of charge seven days after I bought my GMTIIC .

[Paul Newman]

You can read all about insurance, find out how much your premium will be, apply for and pay for your insurance online. Here is the link:
http://www.jewelersmutual.com/SubPage.aspx?id=154

[krattzz]

Thanks Paul!!!!