Stolen Watch in London

[AshAP]

I renewed in July and have 2 watches insured with Hiscox on my household policy with a value of £76,122 but the premium this year is about £1200 just for the 2 watches which is totally crazy. Jewellery premiums have apparently increased substantially this year partly because of all the moped gang muggings.

The cover I have on the watches is called ‘worldwide cover’ which means that there is no requirement to be kept in a safe when not being worn and all scenarios are covered. Basically Hiscox built their reputation on paying out when the sh*t hits the fan, although the cover is expensive, to me it’s worth the peace of mind.

I can understand why someone would decide not to insure a watch because the cost is ridiculous but at the same time I can’t imagine not insuring the things that I’ve worked hard for.



Sent from my iPhone using Tapatalk

[Vetracer]

Sorry to hear about your watch theft. It saddens me to hear about this on the streets of London. A few people mentioned wanting to know more about how it happened and I understand you not wanting to relive the experience here.

If I may, I’d like to suggest the things I do in any big city to minimise the risk of being a victim of robbery bearing in mind carrying concealed weapons is illegal in the U.K.

I have 3 Euro grade 0 safes at home. One stores the papers and certificates, the other two hold some of my collection. The most expensive watches are hidden in a secretly concealed location just in case I’m forced under duress to open them up.

I only have one watch out at night and that’s the one I’ve taken off my wrist which I’m likely to wear tomorrow.

When on public transport except on my rush hour commute, I keep my shirt sleeves down.

When out in the evening in summer and wearing short sleeves, I avoid wearing an expensive watch unless being driven or driving to a restaurant or theatre.

I always conceal my watch if I’m coming home late at night.

[AK797]

Sorry to hear about this, which part of London where you in?

Originally Posted by AshAP

I renewed in July and have 2 watches insured with Hiscox on my household policy with a value of £76,122 but the premium this year is about £1200 just for the 2 watches which is totally crazy. Jewellery premiums have apparently increased substantially this year partly because of all the moped gang muggings.

Sent from my iPhone using Tapatalk

I think all the publicity of all the moped and knife crimes this year is one thing, but when insurers start reacting you know things are serious.

[OP15]

Sorry that happened to you. I hope your watch finds its way home. Glad you’re ok.

[Gravity]

Originally Posted by galtinuk

I think it depends a lot on where you are. I have not seen it that low in London--but hoping maybe I haven't checked the right places..

Sent from my Pixel 2 XL using Tapatalk

I have found the average for a large jewelry floater is 3% of the replacement value. It can get up there for a large collection but worth it imo and I have always had it.

[Donnyal]

So sorry to hear that mate...thieving scumbags out there!
They will get whats coming to them!
These are the things that are stopping me getting a pm watch. London is just too dirty, full stop.
Im a big athletic lad but anyone can get robbed with a gun in their face or a knife to the throat....
Just such a shame thats all

[Vetracer]

Just to add, criminals everywhere are getting much more sophisticated. Don’t use your personal social media account to display symbols of wealth. You may trust your friends and followers but can they trust theirs?

If you have a dedicated account, be careful who you allow to “follow” you. Don’t be lazy and sign up to new websites using your Facebook, Instagram or Gmail login. Create a new account.

[galtinuk]

Originally Posted by GB-man

Sorry to hear that. Insurance for me was quoted at 1.5 percent. I declined though.

If that was in London would you mind sharing which place quoted you that? Looking for a good watch only insurance policy.

Sent from my Pixel 2 XL using Tapatalk

[RolexZen]

Valuable Personal Property insurance on my AP is a no brainer. Without insurance, I would be absolutely gutted if it was stolen from me, and I wouldn't wear it and enjoy it nearly as much.

I'm still pretty careful and selective about where I wear it and how visible it is, but with insurance, I have a great deal of piece of mind. Worth the few hundred per year I pay for the insurance.

I don't insure all my watches, though. While I would hate to lose my Grand Seiko, for example, I just don't feel it draws as much attention from would-be robbers. I insured my BLNR before I sold it, and I currently have insurance on my Seamaster 300, but I'm considering dropping it. Again, love the watch, but it flies under the radar like the "Seiko", at least here in Atlanta. "Under the radar" is often the best security of all.

[OP15]

Originally Posted by Gravity

I have found the average for a large jewelry floater is 3% of the replacement value. It can get up there for a large collection but worth it imo and I have always had it.

I’m in Los Angeles, too. 3% is way too high. I used to pay around that with Jewelers Mutual. No longer. I want to say I’m just north of 1% for a large policy separate from Homeowners.

[Helmi]

Sorry to hear that, it is really sad to see these posts coming

[Uros]

Sorry to hear, ugly experience...Its the reason I usually travel with my Panerai, dont want to think who is watching/following etc...

[Gravity]

Originally Posted by OP15

I’m in Los Angeles, too. 3% is way too high. I used to pay around that with Jewelers Mutual. No longer. I want to say I’m just north of 1% for a large policy separate from Homeowners.

Would you mind sharing who you use? I've done quite a bit of research from Liberty Mutual to Lloyds. Also makes a pretty significant difference what city the home is in as well, but I'd absolutely like to see if I can get a better rate. Feel free to PM Thx

[OP15]

Originally Posted by Gravity

Would you mind sharing who you use? I've done quite a bit of research from Liberty Mutual to Lloyds. Also makes a pretty significant difference what city the home is in as well, but I'd absolutely like to see if I can get a better rate. Feel free to PM Thx

PM sent

[gr4ndp4]

Firstly, I'm sorry to hear of your loss. If you could tell us where it happened visitors to London from VRF could be alert to the risks.
I can understand why some people do not insure but as an experienced claims insurance handler (in another arm of the industry - not property insurance) I would note that insurance is a choice. Aware of risk the potential insured will choose, are they prepared to lose the value of the item or would they prefer to pay the premium and comply with the terms of the contract? Note this is about value not emotional relationship. The best that can happen should there be theft is the insured can buy a replacement.
In any event, the property owner will be required to "act as a prudent uninsured" and even if you are uninsured this should be your starting point. I've just put my Red Sub on my contents insurance. I'm required to store it in a safe when not on my wrist or next to me at night. I'm required to annually have a "Jeweler" verify the bracelet and mountings are sound and to have it valued every 5 years. Should there be a claim I will have to produce evidence of these last two. The bracelet check is common sense, valuation ensures focus on insured value (or if to insure). I'm sure other markets such as in leftpondia have different but similar contract terms. Note if you are insured make sure you do understand the conditions of your insurance. I think a prudent uninsured should take the kind of precautions mentioned by Vetracer earlier.
Cheers

[LAFLARE]

Sorry to hear, I hope your watch rightfully returns to you

[amracer]

UPDATE: i have been im touch with AP by email and let them know my watch got stolen. So they have replied by saying they want a letter from the police to AP says watch make, model and case no mentioned .. meanwhile i have reached the police department and they have made it clear they never mention or send email to non-related individual or cooperation for many safety and security reasons.. they only mention crime reference no! Could anyone in this forum help by reaching a higher manager in AP to assist or advice what to do next since inhave informed AP with what i have received from the police.

[MonBK]

Don't they just want a copy of the police report?

[galtinuk]

Surely in the police report they must have taken the serial number and stolen item details to help them in their "investigation".

Can't you just request a copy of the police report? Then forward that on?

Sent from my Pixel 2 XL using Tapatalk

[holdtime]

Originally Posted by GB-man

Sorry to hear that. Insurance for me was quoted at 1.5 percent. I declined though.

.???