Rolex Watch Insurance in UK

[taz101]

Originally Posted by Mick P

Gary

UK home insurers normally insure high value watches with a few dodgy caveats. A lot of stand alone insurers have the same terms.

1. The watch is only insured in your house if you are either wearing it or it is locked in a specified safe. If you leave your watch in a drawer and a burglar takes it - your loss.

2. The watch has to be on your wrist 100% of the time when out of the house. There are no exceptions to this. Even hotel safes are excluded, you have to wear it whilst sleeping.

I have an old fashioned safe that is 3ft high and 2ft square. It is not specified because of its age, but no one will ever break into it and it took 3 of us to lift it into the house.

In effect I am only insuring the watch I am wearing.

Regards

Mick

I checked with mine and they dont require a safe or even for it to be hidden away they said the only thing wouldnt be covered is if you invited someone in and they stole it

[lee fowler]

TH March only insist on watches above £7500 being locked in a safe when not being worn.

[Risker]

My Submariner and my Daytona are insured with TH March. Very good cover much better than on home insurance.

They have a strict policy on watches on holiday and added an additional clause because I have multiple watches covered.

[Risker]

Originally Posted by lee fowler

TH March only insist on watches above £7500 being locked in a safe when not being worn.

They told me that was on holiday or in a hotel. At home they were covered regardless.

[Mick P]

Originally Posted by taz101

I checked with mine and they dont require a safe or even for it to be hidden away they said the only thing wouldnt be covered is if you invited someone in and they stole it

Is there an agreed value on the watch and is it specified or is it covered in general contents ?

[GolfPunk]

Final outcome: I had to get a £4000 cash rated safe installed (cost me £300), and a brand new NSI approved gold standard intruder alarm installed on an annual servicing contract (this cost £540 plus £60 per year to service it), but the home insurance premium has only increased by £120 per year so I'm all sorted now.

[justdate]

Just for reference, Hiscox are quite good with higher value watches.

Things start to become tricky over £15k in my experience.

[GolfPunk]

Originally Posted by justdate

Just for reference, Hiscox are quite good with higher value watches.

Things start to become tricky over £15k in my experience.

That's the trouble, my WG Daytona RRP is £25100

[scimps]

Originally Posted by GolfPunk

Final outcome: I had to get a £4000 cash rated safe installed (cost me £300), and a brand new NSI approved gold standard intruder alarm installed on an annual servicing contract (this cost £540 plus £60 per year to service it), but the home insurance premium has only increased by £120 per year so I'm all sorted now.

Sounds good. I'm wondering about -

What if you said you always wore it? So it wouldn't need to be left in a safe? Do they quote for that?

Also were there caveats to when you could and could not wear it??


Cheers

[GolfPunk]

There will be times I don't wear it and leave it at home. If I'm away from the home I must never take it off my wrist, for example in a hotel I must wear it all the time.

[justdate]

Originally Posted by GolfPunk

That's the trouble, my WG Daytona RRP is £25100

Yes, I meant to say. Up to £15k most insurers are fine. Over £15k that's when I found Hiscox were able to help.

[Mick P]

Chaps

The problem with watch insurance within the UK is mainly when you have two or more watches. This is because one watch is on your wrist and the other is lying about somewhere.

If you have just one watch, you will probably be wearing it most of the time or it may be lying beside you when you are sleeping. In many cases, insuring one watch is low risk and relatively cheap.

However when you have two or more watches, the problems pile up. The watch you are wearing is insured if you are wearing it or if you can prove you were in the same room as the watch when the theft occurred. Please note I used the word "proved". If the watch was in the bedroom whilst you were sat on the WC, you are not insured, that needs to be clearly understood.

As regards to storing them in secure or rated safes, you will need to prove this, so either the safe was ripped open or ripped from its fixing and taken away.

My watches are stored in a massive steel safe which is not approved but the chances of anyone breaking into it are remote. It took 3 strong men (not me) to lift it into the house and position it where it is. However whilst the watches in the safe are relatively secure, they are not insured because the safe is not rated in the policy. They are stored entirely at my risk.

You really do need to read the small print in your policy. Insurers are very good at quoting caveats when disputing a claim.

Regards

Mick

[R G]

I'm really confused.

I have my house contents and building insurance with Aviva.

I have an infantry of listed named items including the watches I own and this insures them for loss and theft inside and outside of the home.

None of my watches, individually, exceed the value of £6k.

Obviously I have to pay a premium for these named items.

Am I missing something?!

[GolfPunk]

Originally Posted by R G

I'm really confused.

I have my house contents and building insurance with Aviva.

I have an infantry of listed named items including the watches I own and this insures them for loss and theft inside and outside of the home.

None of my watches, individually, exceed the value of £6k.

Obviously I have to pay a premium for these named items.

Am I missing something?!

I think you'll be fine. The problem arose for me because of the very high value of my WG Daytona and the fact I have other watches too. They were happy to insure 3 or 4 watches under £8000n in value without a safe and approved intruder alarm, but its purely down to the value of the Daytona.

[gazp]

Flip for a SS Sub instead Gaz😉

[GolfPunk]

Originally Posted by gazp

Flip for a SS Sub instead Gaz😉

Haha you know me Gaz, I'm Daytona through and through as you are a Sub man!

[R G]

Originally Posted by GolfPunk

I think you'll be fine. The problem arose for me because of the very high value of my WG Daytona and the fact I have other watches too. They were happy to insure 3 or 4 watches under £8000n in value without a safe and approved intruder alarm, but its purely down to the value of the Daytona.

Hi, you're right.

Just spoke to Aviva and they said that because my watches are all individually under a certain threshold in value they are completely covered in any situation.

They told me that certain stipulations/requirements are made on some policies with named listed items over a certain value.





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[Hpozzuoli]

My insurance requires riders for anything in value over 5k. So that's basically all the watches and all the Jewelery. I had what was considered a favorable policy, but with rider premiums I almost doubled the original premium. I have video, pics, and appraisals on everything. Not too mention multiple safes, cctv, and alarm system. No matter how careful you are they always want to sell you something extra.

[justdate]

All that was required with Hiscox was a safe, not an alarm. This had to be cash rated for the relevant value. This was on three specified pieces of £19k, £22k and £32k. As well as a few sub £15k pieces which didn't need to be named.

Give them a try, though you or someone else on the policy does need to be over 30 to get a policy with them.