AP 2 years theft/damage coverage

[Horsin’ Around]

Just finally got around to registering my watches for this coverage.

Is this coverage legit?

Has anyone on the forum actually filed a claim for a stolen or damaged watch through the AP coverage?


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[Vivalas]

Well it’s definitely legit. AP wouldn’t offer this and not honour it at all. I did ask at APH a year or so back and I got the impression, they had dealt with more damages to watches than theft.

[IGY]

Yeah, big thumbs up and thank you to AP for providing this service within the price of the watch. It is a real value add for owners.

[ts3]

I am sure it is legit but I'd rather have a lower MSRP and take care of any insurance or not myself.

People are kidding themselves thinking this is a free goodie. Don't remember if they introduced the coverage in tandem with one of the recent price hikes but there have been enough of those to cover the cost which shouldn't be more than 2% max.

[Balance]

Originally Posted by ts3

I am sure it is legit but I'd rather have a lower MSRP and take care of any insurance or not myself.

People are kidding themselves thinking this is a free goodie. Don't remember if they introduced the coverage in tandem with one of the recent price hikes but there have been enough of those to cover the cost which shouldn't be more than 2% max.

This is an amazing free goodie. To me its worth more than 10% of the value of the watch.

Even if some of the price is built in, there is no way the whole price is built in.

AP only needs to insure the retail cost, not the full grey market price I would need to cover. This is very meaningful for ceramic QP ect.

Also AP use it as their own genius way to track flippers. Which means us real customers get even more pieces.

[ts3]

Originally Posted by Balance

This is an amazing free goodie. To me its worth more than 10% of the value of the watch.

Even if some of the price is built in, there is no way the whole price is built in.

AP only needs to insure the retail cost, not the full grey market price I would need to cover. This is very meaningful for ceramic QP ect.

Also AP use it as their own genius way to track flippers. Which means us real customers get even more pieces.

Agree on your point re insuring retail cost vs grey market price for the watches that still trade above retail.

Most people would pay around 1% per year unless they live in LA or sth. Don't know about insurance in Argentina though.

[srvrf]

I think it is also reassuring to customers who may be hesitant to buy and wear the watches due to risk of theft or loss. I don't have super high demand watches (ROO and ROC) but I'm comforted that if something happens, I don't have to get back in line and wait for a replacement.

[supernova]

Be sure to read the T&Cs, it does mentioned "forced theft" only so if you were robbed at knife point etc. You won't be covered if you left it lying around, theft from your bag or your home, losing it etc. Still a very good service to offer and does take some of the "will I wear it in X city" for at least 2 years :)

[Horsin’ Around]

Has anyone here actually successfully filed a claim with this available coverage?


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[supernova]

Originally Posted by Horsin’ Around

Has anyone here actually successfully filed a claim with this available coverage?


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I can’t remember where I read but remember FHB saying in an interview that there were no claims in the first year. Don’t quote me on it though…


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[Vivalas]

I can’t recall if FHB said it, someone at APH, or whether it was just discussed here, but I’ve got in the back of my mind that the potential downside to AP offering this was less than 1%. So a total no brainier really, considering the positives it brings to the brand, especially with all the publicity about wearing high priced watches in cities and thefts etc.

[GW44]

It's just great that AP do this.

If only their CPO program was up and running too it would enhance the brand for us customers who may want to re-jig/sell any of their collection to add new pieces..