Rolex insurance

[jc1301]

Hi folks

I've recently got my first Rolex and have been wearing it full time . Enjoying it and how shiny it is. But it has just occurred to me I have no coverage on this 8k watch on my wrist should anything happen.

My question is .... Does everyone else have their watches covered in one way or another and how do you guys get covered??

Many thanks
M

[ref1655]

watches are often covered under homeowner's insurance but may have to be additionally listed/documented based on their replacement cost(s).

[MattyL147]

Jewelers Mutual.

[Dubarzy]

Check out jewelers mutual.

[rod727]

Originally Posted by Dubarzy

Check out jewelers mutual.

I got a submariner Tuesday of last week from DavidSW. I had it appraised the same I day I got it. I went home that evening and filled out the
Online form at Jeweleres mutual, uploaded the appraisal and Thursday morning I had confirmation of coverage and a policy link for the appraised value. Total amount for me with a $100 deductible is $77 annual premium on $7500 policy. Very easy but it does have to be reviewed since it is over $5000 so it wasn't an instant transaction online.

[mudd]

The effective date from Jewlers has always shown the date I have hit submit. The underwriteres do review everything over 5k, however I do believe the piece is insured from the date the request is submitted if you are an existing customer and everyting is legit. They are very easy to do business with and I've been with them for 5 or 6 years. Sales reciepts with photos go through very quickly.

[fskywalker]

Home owners policy covers my jewerly

[rod727]

Originally Posted by mudd

The effective date from Jewlers has always shown the date I have hit submit. The underwriteres do review everything over 5k, however I do believe the piece is insured from the date the request is submitted if you are an existing customer and everyting is legit. They are very easy to do business with and I've been with them for 5 or 6 years. Sales reciepts with photos go through very quickly.

Thanks for posting your comments. I just learned something. I went and checked my policy and it went into effect the day I applied. The underwriter did have to review but it didn't hold anything up and coverage was effective day of application.

[RichM]

Another vote for JM.

[bdex75]

Originally Posted by ref1655

watches are often covered under homeowner's insurance but may have to be additionally listed/documented based on their replacement cost(s).

The only thing to think about with that is if there is a loss it goes as a claim and loss against your homeowners policy. Which is not a good thing.

If it is the only claim you ever have probably not a big deal. But I have seen raised rates and people dropped for one claim. Especially if you are not a long term client of the insurance company.

With JM it is isolated from your other insurance policies.

That being said mine are currently insured with Liberty Mutual, my homeowners company. At least until I have time get the JM stuff done.
We have been with LM for a long time on several properties and just switched our primary residence and auto to them. We are good friends with a couple executives there and have been assured that if we had a claim we would be ok. But I will be switching as soon as my wife goes and gets her wedding set appraisal updated.



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[southcarolina1801]

I use USAA, added to my current policy


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[Lordofrolex]

I have a watch insurance policy with Jewelers mutual. There very easy to deal with. Pricing is pretty good and not sure how there claims are as i haven't had to use it but I've heard good things.

[jeffgo888]

I have STate Farm and insure it under Personal Articles policy...pretty easy and smooth

[Hairdude1]

All of my watches are covered thru State Farm

[ref1655]

Originally Posted by bdex75

The only thing to think about with that is if there is a loss it goes as a claim and loss against your homeowners policy. Which is not a good thing.

If it is the only claim you ever have probably not a big deal. But I have seen raised rates and people dropped for one claim...

that's a very good point...a general rule of thumb regarding jewelry 'riders' is keeping it around $8K (or less) on a homeowner's insurance policy. unfortunately, that doesn't cover a whole lot of jewelry (or Rolexes) these days.

on the other hand, has anyone had experience filing a claim through Jeweler's Mutual for loss, theft or damage of their Rolex? expediting a claim is often an entirely different story & I've read that JM will drop policy holders for a single claim regardless of how long premiums have been paid.

[Rolex addict]

A rider policy isn't the same as having your Jewelery covered by need homeowners. Those policies typically have very small limits. Personally, my HO policy has a max of $2500 for "Jewelery and furs." Check your coverage. I am a firm believer in a rider or JM. It's just not worth the risk to go without coverage!!!

[Bafflingbs]

Erie home owners insurance here. $66 yearly fee. Appraisal or receipt was needed. And no deductible. I believe the whole amount is covered.

[lpolito415]

My home owners insurance was the cheapest and best coverage I found.

[g-boac]

Originally Posted by fskywalker

Home owners policy covers my jewerly

Hello Francisco - mine does too, but be aware that the deductible applies. In the case of my homeowner's policy, it's $2500. When comparing this number to a total loss of home and contents due to a major natural disaster or fire, it is a small percentage of the total loss; but when comparing this to the price of Rolex, it can be a third to half the value of a modern Sub or GMT-Master. This is where a supplemental policy, called a "personal articles policy" makes sense - this can be a supplemental policy added to your homeowners policy from your insurer (e.g., State Farm), or a standalone policy (e.g., Jewelers Mutual). Typically, these policies have zero deductible or a very small one (e.g., $100), and is "all risk", meaning that however you sustain the loss (i.e., theft, accident, etc) it is covered.

[cop414]

Another Jewlers Mutual customer here.

[SA1]

Jewelers Mutual here

[V1Rotate]

JM is about $1 per $100 of coverage. They are great to work with. PM me if you need an online appraiser they accept.

[Copasetic]

Originally Posted by fskywalker

Home owners policy covers my jewerly

mine too