Watches in Safe Deposit Boxes- No Coverage?

[tyler1980]

Originally Posted by brandrea

Yes, you still have to have insurance on the watches

yep... and if you do have insurance i don't really see the point of putting the watches there in the first place.

Its a safer alternative for those who don't insure and have lots of watches.

[1William]

I guess it just depends on what you want to do, but I have a significant home safe, a safe deposit box at the bank and appropriate insurance on all the valuables I own. I have never understood people who don't insure or secure the belongings they own. Even if money was not an issue, and it almost always is, I would not have all the above. That is just me.

[codecow]

Originally Posted by 1William

I guess it just depends on what you want to do, but I have a significant home safe, a safe deposit box at the bank and appropriate insurance on all the valuables I own. I have never understood people who don't insure or secure the belongings they own. Even if money was not an issue, and it almost always is, I would not have all the above. That is just me.

Insurance for a large collection is ridiculously expensive. One ring my wife insures costs her quite a lot each year, and that's for a single item.

[GradyPhilpott]

Originally Posted by 05carbondrz

Easier,Who wants to go to the Bank every time you want to switch Watches?

I do.

It's no problem to do so and takes only about five minutes, because I'm in the neighborhood every day, anyway.

I don't change watches everyday, unless I'm rotating through some of the lesser watches I keep here in the apartment.

[BlakeA]

Originally Posted by 05carbondrz

Just buy a nice Gun Safe for 1K or so and Bolt it to your Floor...Your own Safety Deposit Box.

I have a neighbor who experienced a home invasion and the perps located the safe and made him open it (they were armed). So if you want your watches to be >99.999% safe, the safe deposit box might be the way to go.
Having said that, however, I keep my stuff in my triple locked steel storm shelter.

[05carbondrz]

Originally Posted by BlakeA

I have a neighbor who experienced a home invasion and the perps located the safe and made him open it (they were armed). So if you want your watches to be >99.999% safe, the safe deposit box might be the way to go.
Having said that, however, I keep my stuff in my triple locked steel storm shelter.

Believe me....I am more armed.