Insuring my new 1680

[JJL]

Hi all,

As most of you know, I've recently purchased a 2.9xx 1970 Mark IV Red 1680 and I'd like to insure it properly.

I currently have my YM and my wifes DJ insured through homeowners, all risks covered on lost, stolen or damage. Should I just add it to my current plan - is this sufficient?

Now with it being a vintage piece, I realize it could potentially go up in value in a couple of years. If that is the case, do I just get it appraised for the new value and submit that?

I believe my plan is about $13 for every $1,000 of value (per year). So in other words a $10k watch would be insured for approx $130 per year.

Also, if I were to need to get an appraisel now - does anyone have any recommendations and can this be done with just pictures and at what cost?

As usual, THANKS a TON in advance. It's truly appreciated.

PS - and just for the picture lovers out there like myself, here's a little taste of the subject :)

[Vincent65]

Lovely sub, congrats - no idea re insurance as I don't bother, sorry!

[JJL]

Originally Posted by Vincent65

Lovely sub, congrats - no idea re insurance as I don't bother, sorry!

Really Vincent65?? I don't know exactly what your collection consists of but I've recently seen enough beautiful pieces of yours to think that they were insured! :) If I recall correctly, a perfect Red Sub and and gorgeous faded Tudor snowflake? You probably have more too

thanks for the kind words

[JustinK]

Nice red sub, congrats!

I insure my watches with a personal articles policy which is all risk and provides coverage anywhere in the world. Make sure if you are adding your watches to a homeowners policy that you are covered for all risk as most homeowners policy's only cover named perils. Also most policy's will have some type of inflation rider that will automatically increase your amount of insurance each year.

As for the appraisal just pay your $30 and tell the jewler what you would like to insure it for. Thats about the average of what I have paid over the years.

[brandrea]

Congrats on the Sub. Some add a rider to their Home insurance policy, while other use a separate policy. I'd compare the two and go from there. if you're looking for replacement value, then they'll need an appraisal.

[Vincent65]

Originally Posted by JJL

Really Vincent65?? I don't know exactly what your collection consists of but I've recently seen enough beautiful pieces of yours to think that they were insured! :) If I recall correctly, a perfect Red Sub and and gorgeous faded Tudor snowflake? You probably have more too

thanks for the kind words

Many thanks my friend - there's one or two more, and a couple from other makers. I live on the edge though


()

[2106]

make sure you read the fine print on the policy. In my experiences in the event of a claim the insurer will pay you what you paid unless you update the policy annually with an appraisal.

[goldfixer21]

Jewelers Mutual is a good option for jewelry and watch insurance. That's all they insure, and their rates are very competitive. They are also the largest insurer of jewelry stores. Very reputable, and they do not offer a "cash out" option if you have a claim, unlike some home insurance companies. Most companies require the item to be appraised every 3-5 years. We charge an average of $110 for an appraisal by our accredited appraiser. Unfortunately, most appraisers, even the good ones, are not vintage watch experts so do your homework before hand.

[JJL]

Thank you all for the good information!

[willang]

What a timely question. I was doing a search on insurance as my homeowners insurance's rider quote for jewelry items and watches is really high.

Thanks!

[sennheiserz]

I started a policy with Jewelers Mutual a few weeks ago, and its been nice dealing with them so far. I was able to use receipts for my watches from smaller/online sellers instead of appraisals, which was nice.

[RC2]

I just got my 1675 insured on the rider to the home policy.