Insurance uk

[hendax]

Anyone in the UK have single item insurance for their Rolex? So it’s not added to your home contents insurance? 🇬🇧

[Sprezzatura!,]

Named items under my house contents insurance.

However, TH March offer this service I believe.

[CLTRolex]

Yes


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[hendax]

Any recommendation CLTRolex? The house I’m in is not my own so it’s not my policy so that’s why I was looking at a standalone policy. A quick Google threw up another thread on this forum. I think as well as TH March, Ripe Insurance cropped up. An annual policy is anywhere between £88.99 and £106.24 depending on the excess.

[nigelUK]

Depends on what watches you own..

I have ‘personal possessions’ with a single item limit of £10k & including away from the home. This covers me currently as I’ve sold anything over £10k value

What is a problem (Im assuming) and relevant with all Rolex sports is that the market value is probably higher than the RRP. And you may have paid grey prices. Is the insurance value the RRP or market ? ..


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[hendax]

RRP? Paid £3,370.

[Airkingchnr]

Ripe insurance ... fully insured cover.cover includes
world wide travel, muggings ,theft and accidental damage. As well as imeadiate family wearing your watches.much better than household who only cover usually theft from house--- what happens if you get mugged . Will cover up to £30000 total. Not as cheap as going on your household insurance but gives total piece of mind.

[Daytonaboy1977]

Originally Posted by Airkingchnr

Ripe insurance ... fully insured cover.cover includes
world wide travel, muggings ,theft and accidental damage. As well as imeadiate family wearing your watches.much better than household who only cover usually theft from house--- what happens if you get mugged . Will cover up to £30000 total. Not as cheap as going on your household insurance but gives total piece of mind.

Agreed - Ripe insurance too, my wife has 2 insured with them too.

[nigelUK]

Ok, can someone tell me this ...

If you bought a 116610LV from your AD for say £7000 but it gets stolen, does the insurer pay out current RRP ? Because in that case you might be getting your costs back but you're never going to be able to replace the watch in any reasonable time frame. You will need the inflated market value to do that ..

[hendax]

Good point. Mine was bought used so was a 1997 made (1999 sold) Air-King. Would I expect that to go up on RRP still over time? I'm new to the market.

[studioJ]

They will give you what you valued it at. You can insure it for the grey market rate no problem, but your premiums will therefore be reflective of that higher replacement cost. You aren’t really insuring the watch, you’re insuring the cost of what you tell them you need, to replace it.

[studioJ]

Also on TH March, I had heaps of conversations with them but the reason I ended up putting my BLNR as a named item on my home insurance (which covers you for the exact same stuff), is because THM required it to be in a locked safe when it wasn’t on my wrist. I’d prefer to be able to take my watch off and put it on my bedside table, rather than go to a hidden safe somewhere in the house.

[theparry]

Originally Posted by studioJ

Also on TH March, I had heaps of conversations with them but the reason I ended up putting my BLNR as a named item on my home insurance (which covers you for the exact same stuff), is because THM required it to be in a locked safe when it wasn’t on my wrist. I’d prefer to be able to take my watch off and put it on my bedside table, rather than go to a hidden safe somewhere in the house.

That’s weird as I have multiple watches insured with TH March and there is no safe requirement on my policy.

[studioJ]

Originally Posted by theparry

That’s weird as I have multiple watches insured with TH March and there is no safe requirement on my policy.

Hmm does a single watch exceed £12k? I think that's when they require a safe.

[Driver8]

I found insuring any of my watches separately wasn't anywhere near as cost effective as having them as named items on my contents insurance. Some home insurers will only have a £10k limit on individual items, but if you shop around you will find ones that don't have that limit.

[CharlesN]

Originally Posted by hendax

Anyone in the UK have single item insurance for their Rolex? So it’s not added to your home contents insurance? 🇬🇧

Yes,

I have my watches individually specified with Make, Model, Serial number and value on my Household poilcy.

I found thats the cheapest and most sensible way.

[hendax]

Originally Posted by CharlesN

Yes,

I have my watches individually specified with Make, Model, Serial number and value on my Household poilcy.

I found thats the cheapest and most sensible way.

I’m looking at standalone policies, not on the home insurance.

[CharlesN]

Originally Posted by hendax

I’m looking at standalone policies, not on the home insurance.

I think it’s hard to find stand alone policies but .....
T H March is well known (and expensive)

Farmers mutual may also be of use.

[stickyfingers85]

Similar experiences with insurance for me, but ended up adding the watches as individual items on the home insurance, it just worked out cheaper. The only downside is that my Root Beer is over £10k so is only insured when it's on my wrist, in a secured safe at home, or in a safety deposit box. I haven't got around to getting a safe yet but will do soon. I'm with Admiral if that helps at all

Do remember that they will generally only give you what you paid for it, what is on the receipt. So if the RRP has gone up, or if the general value has increased, then you need to get a valuation done and insure it for that value.

e.g. My Root Beer cost £10800 at the time, it's RRP is now £11850, but on the grey market they are around £16k. I had it valued at approx £15k so that's what it is insured for on my home insurance. The valuation has to be done every 2 years, same as other high-value jewellery.

Hope that makes sense

[Arch Stanton]

Originally Posted by stickyfingers85

Similar experiences with insurance for me, but ended up adding the watches as individual items on the home insurance, it just worked out cheaper. The only downside is that my Root Beer is over £10k so is only insured when it's on my wrist, in a secured safe at home, or in a safety deposit box. I haven't got around to getting a safe yet but will do soon. I'm with Admiral if that helps at all

Do remember that they will generally only give you what you paid for it, what is on the receipt. So if the RRP has gone up, or if the general value has increased, then you need to get a valuation done and insure it for that value.

e.g. My Root Beer cost £10800 at the time, it's RRP is now £11850, but on the grey market they are around £16k. I had it valued at approx £15k so that's what it is insured for on my home insurance. The valuation has to be done every 2 years, same as other high-value jewellery.

Hope that makes sense

Where is best place to get a realistic valuation? Mine is a 14060m that I bought it new in 2001, so obviously discontinued. RSC wants me to send it in for valuation but they are hardly going to value it at what it would cost me to replace it on the used market!!

I have it insured on the house insurance as an individual item along with my son's 2000 16234.

[hendax]

Thanks all. The Ripe one is £88.99 and £106.24 which I don’t think is too bad for an annual until I do have an option to add them to a house policy.

[Airkingchnr]

Originally Posted by hendax

Thanks all. The Ripe one is £88.99 and £106.24 which I don’t think is too bad for an annual until I do have an option to add them to a house policy.

The good thing is with ripe, it is full cover, it gives piece of mind. Alot of UK household policies do not cover theft from outside of the home ie mugging or loss in street and loss in foreign country .. with Ripe it covers it all.and you can do a single item for 2 you get a reduction

[snypa]

I used ripe for my gmt as it put me over my household contents limit. Worth noting my house insurance covers me worldwide also, and not just when the watch is being worn

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[hendax]

Think I saw on an older thread that Ripe didn’t cover internationally but it now seems to offer ‘worldwide cover against loss, theft and accidental damage’.

[hendax]

Assetsure are quoting £84.91 with no excess.

[Stevec14]

Assetsure are pretty good. Insured for theft out and about and on holiday. They do require a safe, but their rates are pretty reasonable depending on what you want to insure.

It’s cost me about 35 quid a month to insure a Daytona and Gmt to their market values a year or two ago (would be more now obvs)

The safe is required for watches you are not wearing obvs plus if you take more than one watch on hols the other would need to be in a hotel safe or such like.


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[hendax]

I think at home a safe is only required if the watch is £10k+.

[Stevec14]

Originally Posted by hendax

I think at home a safe is only required if the watch is £10k+.

I can’t say I’ve looked at my policy for ages, but you are likely right.

[hendax]

I best check before I take a policy out ��

[Stevec14]

Originally Posted by hendax

I best check before I take a policy out ��

It’s for multiple or expensive items - the maximum payment for items left out of the safe is 10k.

So if you are insuring 1 watch at 5k you are fine - you don’t need a safe....