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jcourant · 20 September 2011, 04:30 AM

Hello TRF,

Sorry if this has been asked before, but I'm curious how many of you carry an insurance policy rider on your watches? I currently do and am considering stopping since it is quite expensive each year. I know its all about the odds and you can spin it either way, so I'd love your feedback. Thank you!!

jay_man2 · 20 September 2011, 04:34 AM

I have my collection insured with a jewelry rider.

Dr. Robert · 20 September 2011, 10:14 AM

insured by Messrs. Smith & Wesson.

BMWMDRIVER · 20 September 2011, 05:39 PM

Quote:

Originally Posted by Dr. Robert

insured by Messrs. Smith & Wesson.

Until I get my policy in effect, my Kahr PM9 is my ins policy. In SF right now and have a CA CCW.

equinox308 · 17 November 2011, 05:41 PM

Quote:

Originally Posted by BMWMDRIVER

Until I get my policy in effect, my Kahr PM9 is my ins policy. In SF right now and have a CA CCW.

That is great having a CCW, they are hard get so you must be LE?

I'm insured by P229 but looking into insurance when on the streets..

Rollie2011 · 21 September 2011, 01:16 AM

Quote:

Originally Posted by Dr. Robert

insured by Messrs. Smith & Wesson.

eric23 · 20 September 2011, 04:34 AM

I do, on all of my watches and toys over 2K! I pay less then $300 a year for over 25K of extra stuff on my home policy.

WyoWatch · 20 September 2011, 04:37 AM

A personal articles policy through my insurance company costs me around $100 a year for all my watches. This includes no deductible and full retail value replacement.

cjnesher · 20 September 2011, 05:41 AM

I add them to my homeowners, costs me a few hundred a year.

desmo996 · 20 September 2011, 05:48 AM

Use Jewelers Mutual

Vetteman · 20 September 2011, 08:52 AM

Quote:

Originally Posted by desmo996

Use Jewelers Mutual

I did their online quote and it was $7 more per year than a rider on my homeowners policy

Dan Pierce · 20 September 2011, 05:54 AM

Jewelers Mutual.
dP

never2late · 20 September 2011, 08:06 AM

Quote:

Originally Posted by Dan Pierce

Jewelers Mutual.
dP

Annan · 20 September 2011, 06:00 AM

Yes...I have a Valuable Personal Property rider for mine and my wife's Rolex through my homeowners insurance. Total cost is about $180/year and covers full replacement (MSRP at time of purchase) for theft and loss. I've never been real concerned about loss but am concerned about theft (mugging), especially as I get older and slower.

hsfrank · 20 September 2011, 08:48 PM

Quote:

Originally Posted by Annan

Yes...I have a Valuable Personal Property rider for mine and my wife's Rolex through my homeowners insurance. Total cost is about $180/year and covers full replacement (MSRP at time of purchase) for theft and loss. I've never been real concerned about loss but am concerned about theft (mugging), especially as I get older and slower.

Are you sure? Most policies provide for replacement of like kind & quality. That means that while they can not give you an Omega for a Rolex , they can give you a 5 year old Rolex they purchased from their source for your 6 year old Rolex that was lost, stolen etc. Alternatively they can pay you their cost for that. Most companies have a source for supply at a better cost than you can get. I am not saying they will but they can.

dsio · 20 September 2011, 09:37 PM

Quote:

Originally Posted by hsfrank

Are you sure? Most policies provide for replacement of like kind & quality. That means that while they can not give you an Omega for a Rolex , they can give you a 5 year old Rolex they purchased from their source for your 6 year old Rolex that was lost, stolen etc. Alternatively they can pay you their cost for that. Most companies have a source for supply at a better cost than you can get. I am not saying they will but they can.

I've never bothered with insurance as when trying to get coverage for my watches the 2007 Seamaster was the only one I could get a straight answer on. I have no idea how you would cover a 1950s Omega Constellation and Seamaster, or a 1979 sub, or a 1939 Cyma.

Danand · 21 September 2011, 12:36 AM

Quote:

Originally Posted by dsio

I've never bothered with insurance as when trying to get coverage for my watches the 2007 Seamaster was the only one I could get a straight answer on. I have no idea how you would cover a 1950s Omega Constellation and Seamaster, or a 1979 sub, or a 1939 Cyma.

I would think vintage watches would be handled like jewelry. I.e. They would have to have a certified apraisal and then be insured for that value monetarily.

Annan · 21 September 2011, 01:05 AM

Quote:

Originally Posted by hsfrank

Are you sure? Most policies provide for replacement of like kind & quality. That means that while they can not give you an Omega for a Rolex , they can give you a 5 year old Rolex they purchased from their source for your 6 year old Rolex that was lost, stolen etc. Alternatively they can pay you their cost for that. Most companies have a source for supply at a better cost than you can get. I am not saying they will but they can.

I went over the details in depth with the agent. My watch had an MSRP of $10,100. If it's stolen/lost today or 20 years from now, I get $10,100. Of course in 20 years at the rate Rolex is going my replacement watch will cost me $50,000

mattyb65 · 21 September 2011, 01:42 AM

Quote:

Originally Posted by Annan

I went over the details in depth with the agent. My watch had an MSRP of $10,100. If it's stolen/lost today or 20 years from now, I get $10,100. Of course in 20 years at the rate Rolex is going my replacement watch will cost me $50,000

...or you could just increase the limit to the new MSRP when you renew your policy.

kcmo · 20 September 2011, 06:59 AM

Yes, do it! We have our watches insured and when one was stolen I had to make a claim...totally worth the peace of mind!

jcash454 · 28 October 2011, 09:39 AM

Quote:

Originally Posted by kcmo

Yes, do it! We have our watches insured and when one was stolen I had to make a claim...totally worth the peace of mind!

OH NO! Stolen watch =

So glad it was insured!

Vetteman · 28 October 2011, 10:37 AM

we just had ours reappraised ..... So we called JM and they were about $30 per year more than having them on a rider with our Home owners policy... No deductible and same coverage including damage... I think we will stick with our current insurer

handsfull · 28 October 2011, 12:03 PM

Quote:

Originally Posted by Vetteman

we just had ours reappraised ..... So we called JM and they were about $30 per year more than having them on a rider with our Home owners policy... No deductible and same coverage including damage... I think we will stick with our current insurer

You can argue that having them on a separate policy would be wise for only a $30.00 difference in premium.

dddrees · 20 September 2011, 07:02 AM

Yes I do.

jrssv · 20 September 2011, 07:14 AM

Yes. I'd rather pay a few bucks than worry.

Grumpy Badger · 20 September 2011, 07:42 AM

Nope.

I don't like betting against myself. The only way to "win" with insurance is to lose...

I don't insure anything that I'm not legally obliged to.

NBB · 20 September 2011, 08:28 AM

Quote:

Originally Posted by Grumpy Badger

Nope.

I don't like betting against myself. The only way to "win" with insurance is to lose...

I don't insure anything that I'm not legally obliged to.

Wow is all I can say

Grumpy Badger · 20 September 2011, 08:45 AM

Quote:

Originally Posted by NBB

Wow is all I can say

¿Por Que?

I'm clearly in the overwhelming minority but I'm surprised my attitude is so unusual.

I really am interested as to why your reaction would be "wow"!

Danand · 20 September 2011, 10:18 AM

Quote:

Originally Posted by Grumpy Badger

Nope.

I don't like betting against myself. The only way to "win" with insurance is to lose...

I don't insure anything that I'm not legally obliged to.

I fully understand your thinking. But In my case I look at it in terms of if I have a total loss how will I feel. If I lost my watch I would not HAVE to replace it (I have plenty of other non-rolex watches) but I would WANT to replace it and the cost is pretty steep. So the amount I pay in premiums is very low in comparison. It would take me about 50 years in premiums to pay off a new watch assuming the (discounted) price I paid, yet the coverage is for replacement value and therefore the cost of the watch will go up over time.

ArcticMoose · 27 October 2011, 12:57 AM

Quote:

Originally Posted by Grumpy Badger

I don't like betting against myself. The only way to "win" with insurance is to lose...

I don't insure anything that I'm not legally obliged to.

Same here!

The one exception is auto insurance, since I know that betting against myself is the only sane thing to do.

20 September 2011, 04:30 AM	#1
jcourant "TRF" Member Join Date: Aug 2011 Real Name: Jay Location: Mill Valley, CA Posts: 130	Do you carry insurance for your watches? Hello TRF, Sorry if this has been asked before, but I'm curious how many of you carry an insurance policy rider on your watches? I currently do and am considering stopping since it is quite expensive each year. I know its all about the odds and you can spin it either way, so I'd love your feedback. Thank you!!

20 September 2011, 10:14 AM	#3
Dr. Robert "TRF" Member Join Date: Dec 2009 Real Name: Bob Location: U.S.A. Watch: 1655 Posts: 65,685	insured by Messrs. Smith & Wesson. __________________ Founder & Card Carrying Member of the Global Association of Retro-Grouch-Curmudgeons

20 September 2011, 05:41 AM	#9
cjnesher "TRF" Member Join Date: Nov 2010 Real Name: Chris Location: Clearwater, FL Watch: 1675 Posts: 343	I add them to my homeowners, costs me a few hundred a year. __________________ "Alright, Alright, Alright"

28 October 2011, 10:37 AM	#22
Vetteman "TRF" Member Join Date: Jul 2010 Location: NC Watch: 16610 Posts: 420	we just had ours reappraised ..... So we called JM and they were about $30 per year more than having them on a rider with our Home owners policy... No deductible and same coverage including damage... I think we will stick with our current insurer __________________ His 16610 E serial Her's 178240 Z Serial Salmon Dial Roman Markers 178344 Random Serial MOP Dial Diamond 6/Bezel 114210 M Serial Blue 3-6-9 Sticks 115200/210 M Serial Black / White Dial Stick Markers

20 September 2011, 07:02 AM	#24
dddrees "TRF" Member Join Date: May 2010 Real Name: Dan Location: USA Watch: This N That Posts: 34,258	Yes I do. __________________ When it captures your imagination, that's when you know you have found your passion. Loyal Foot Soldier of The Nylon Nation. Card Carrying Member of the Global Association of Retro-Grouch-Curmudgeons

20 September 2011, 04:34 AM	#2
jay_man2 "TRF" Member Join Date: May 2011 Real Name: Jay Location: Northern Virginia Watch: Rolex Posts: 2,490	I have my collection insured with a jewelry rider.

20 September 2011, 04:34 AM	#7
eric23 "TRF" Member Join Date: Apr 2008 Real Name: Eric Location: Calgary Posts: 9,595	I do, on all of my watches and toys over 2K! I pay less then $300 a year for over 25K of extra stuff on my home policy.

20 September 2011, 04:37 AM	#8
WyoWatch "TRF" Member Join Date: Oct 2009 Real Name: Chad Location: USA Watch: 1675 GMT and Sub C Posts: 1,443	A personal articles policy through my insurance company costs me around $100 a year for all my watches. This includes no deductible and full retail value replacement.

20 September 2011, 05:48 AM	#10
desmo996 "TRF" Member Join Date: Jun 2011 Location: United States Watch: 116618LN Posts: 144	Use Jewelers Mutual

20 September 2011, 05:54 AM	#12
Dan Pierce "TRF" Member Join Date: Dec 2006 Real Name: D'OH! Location: Kentucky Watch: Rolex-1 Tudor-3 Posts: 36,346	Jewelers Mutual. dP

20 September 2011, 06:00 AM	#14
Annan "TRF" Member Join Date: Jun 2011 Real Name: Ron Location: Arizona, USA Watch: 116233 Posts: 3,180	Yes...I have a Valuable Personal Property rider for mine and my wife's Rolex through my homeowners insurance. Total cost is about $180/year and covers full replacement (MSRP at time of purchase) for theft and loss. I've never been real concerned about loss but am concerned about theft (mugging), especially as I get older and slower.

20 September 2011, 06:59 AM	#20
kcmo "TRF" Member Join Date: Jan 2007 Real Name: Karis Location: USA Posts: 19,377	Yes, do it! We have our watches insured and when one was stolen I had to make a claim...totally worth the peace of mind!

20 September 2011, 07:14 AM	#25
jrssv Member Join Date: Oct 2009 Location: Arizona Posts: 386	Yes. I'd rather pay a few bucks than worry.

20 September 2011, 07:42 AM	#26
Grumpy Badger "TRF" Member Join Date: Mar 2011 Real Name: Mark Location: Bonny Scotland Watch: 14060M Sub (cosc) Posts: 5,280	Nope. I don't like betting against myself. The only way to "win" with insurance is to lose... I don't insure anything that I'm not legally obliged to. __________________ Don't mind me. I'm full of scotch, bitterness and impure thoughts! "You have enemies? Good! That means you stood up for something, sometime in your life." Sir Winston Leonard Spencer-Churchill KG, OM, CH, TD, PC, DL, FRS.

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