The Most Boring Topic Ever

[enginerd]

Insurance!

Ok, here's my deal. I started off with a one watch collection (a 16600) that I wore all the time. I never insured it, as I didn't feel like the loss would be too great if something happened.

Fast forward several years to present.

My collection has grown a bit, and I now have 5 watches in the rotation. The 16600 is probably worth double what I paid.

I know I need to insure them, but my justification has always been that 4 out of the 5 are always locked up in a waterproof/fireproof safe and I'd always be about 80% whole if something happened with the watch on my wrist. I realize that's stupid and I've convinced myself to insure everything.

Question is, can I insure for less than appraisal value? For example, I have a '91 DD that'll get appraised somewhere north of $30k for "replacement value" but I don't want to pay premiums on $30k. Is there anything like "agreed upon value" for watches so both parties are satisfied?

State of collection:

18248
16600
79160
79730
116660