Watch insurance

[wongga]

Greetings!

My watches are not insured...something I need to do! I thought about adding a rider to my home insurance, but heard Hodinkee provides insurance with Chubb.

I would like to know if folks on this forum have insurance through their home or and outside vendor like Hodinkee? Any pros and cons?

[kritameth]

If you can’t afford the loss, you can’t afford the watch. Is what I would say, if I was that guy. Some of mine are through Hodinkee/Chubb, some through Brite.co. Advantages over rider is in case of claims, for obvious reasons. Price may be a con, depending, but I find my policies very reasonable, with Brite being nearly half the cost of Hodinkee. Process with Hodinkee is super easy.

[123Blueface]

Don’t do Rider.
Take it from a retired claims manager.
Keep easily lost/stolen jewelry separate from HO policy, specially if you love in a volatile state for Aharon insurance such as Florida, NE, West Coast, etc.

[MattyL147]

Jewelers Mutual.

[1William]

I have transitioned to Hodinkee for easy of use and the online ability to add/delete/modify. Keep your home owners separate, as any claims could impact you at renewal time.

[rich-96db]

I did the Chubb insurance through Hodinkee. It was cheaper than adding to my house insurance. Hodinkee also now allows you to add some jewelry to the policy as well.

[JSol1]

Another Chubb/Hodinkee customer. Started with JM because that’s where my wife’s jewelry is insured, but over time it was clear they were trying to get out of the watch insurance business.
We actually insure not only for theft, but also fire. When we travel, many go in our safe deposit box at the Bank.

[RichM]

Originally Posted by MattyL147

Jewelers Mutual.

Same here. Even processed a seamless claim.

[brandrea]

No insurance here, but I can see why others use it

[ltmgeller]

Jewelers mutual is terrible. A friend on the forum did a comparison and found that State Farm was the best bang for the buck.

[502 to Right]

I self insure. I haven't had to make a premium payment yet in the last 30 years.

[Funkle]

Hmm +- $100 a year per seems like a decent deal, haven't read the policy limitations just a quick quote. I'm not concerned with theft so much, but my FIL once lost his Rolex on the highway and went back scouring the shoulder to no avail. I don't know how much confidence I should have in my nearly 30 year old bracelet.

[samson66]

Hodinkee here. My suggestion is just insure the real pricey stuff. If you insure entire collections it gets pricey in a hurry.

[1st amg]

Kevin O'Leary just started a watch insurance company. It's called Wondercare Watch Insurance. He partnered with the 1916 Watch Company. I believe the underwriter is CHUBB.

[Duke Nukem]

Originally Posted by 1st amg

Kevin O'Leary just started a watch insurance company. It's called Wondercare Watch Insurance. He partnered with the 1916 Watch Company. I believe the underwriter is CHUBB.

So there's nothing different with his new offering "Wondercare" compared with Hodinkee or Wax Insurance.

The base product is Chubb's Personal Article Floater and you get all the standard features that come with it regardless of which of the three agents you select. The only difference is the customer service between each agent.

Honestly, if you have a local Chubb agent, it's much better to work with them. Any of them can write up the same exact policy as Hodinkee, Wax, etc.

[Calatrava r]

Originally Posted by samson66

Hodinkee here. My suggestion is just insure the real pricey stuff. If you insure entire collections it gets pricey in a hurry.

Great advice. None of my affordable watches, obviously a varying factor for people, are insured. A claim on a watch you can easily replace may get the whole policy canceled.

[scarlet knight]

Mr. Wonderful doesn’t seem like a sympathetic guy. We have a rider on our Chubb homeowners’ insurance. Going bare seems risky.

[JSol1]

Originally Posted by Funkle

Hmm +- $100 a year per seems like a decent deal, haven't read the policy limitations just a quick quote. I'm not concerned with theft so much, but my FIL once lost his Rolex on the highway and went back scouring the shoulder to no avail. I don't know how much confidence I should have in my nearly 30 year old bracelet.

Same. We don’t insure so much for theft, although it’s always possible, but fire. We live in a condo building and fire is probably the biggest risk for us.