what do you guys do for watch insurance?

[Gravity]

Blanket policy with Lloyd's for both art and watches.

[1688]

Here’s my insurance... made with ballistic metal

[Aquaman]

Originally Posted by 1688

Here’s my insurance... made with ballistic metal

and if you wear any of them?

[GeraldGentaFan]

No insurance. Just high quality safes.

[AshAP]

Originally Posted by Fat_ninja

I self insure everything in my life =. Something happens = SOL

My household premium is almost £5K this year and I have 2 watches on order that will make the premium higher for the first time ever I’m starting to think about self insurance as I can’t see myself paying over £6k a year.


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[GB-man]

Originally Posted by brandrea

I don’t insure

Same here. Premium would be about 1700 per year for me. So the way I look at it I am up about 8k since I even had a collection worth insuring. I’d rather take my chances as there is no liability component which is typically the #1 reason I seek insurance on anything aside from health.

[Calatrava r]

Originally Posted by dchang81

I agree but my wife' wearing the 5711 almost daily and me the 5131 a few days a week. Before no one would bat an eye but now random people recognize them.

Its just too easy now to be in the wrong at wrong time and be robbed of everything at knife or gun point. Avoiding the malls and parking garages is a good place to start avoidance practice to lesson the risks. Having to walk a few blocks in a city at night from a restaurant or theatre is another can of worms.

[GreenLantern]

Jeweler's Mutual and a Glock.

[orandoyle]

Originally Posted by Fat_ninja

I self insure everything in my life =. Something happens = SOL

What is self insure?

Originally Posted by AshAP

My household premium is almost £5K this year and I have 2 watches on order that will make the premium higher for the first time ever I’m starting to think about self insurance as I can’t see myself paying over £6k a year.


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Which pieces are you waiting for?

[stephentross]

I pay .65% for my wife’s engagement ring and my Watches overall value annually. 0 deductible. Covers everything from theft to me losing it. Value is what I have already proved everything be worth. Home owners added personal property via MetLife.


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[GB-man]

Originally Posted by orandoyle

What is self insure?


?

Basically just means instead of paying a premium to a third party you save that money and if shit hits the fan hopefully what you saved in premiums lessens the blow.

It’s feasible in situations where a loss wouldn’t substantially harm you. It’s more logical for people who are tolerant of risk.

[Russell996]

Originally Posted by GB-man

Basically just means instead of paying a premium to a third party you save that money and if shit hits the fan hopefully what you saved in premiums lessens the blow.

It’s feasible in situations where a loss wouldn’t substantially harm you. It’s more logical for people who are tolerant of risk.

Also very dependent on the pieces owned.

With a premium of approx 0.5% of value insured, pieces under £50k remaining un-named (and therefore not contributing to the insurance cost) and other pieces that are unobtainium insured and valued at grey market value I think the policy I have is money well spent. Having had to claim over £35k on a lost piece in the past I take great comfort from never having to worry.

[orandoyle]

Originally Posted by GB-man

Basically just means instead of paying a premium to a third party you save that money and if shit hits the fan hopefully what you saved in premiums lessens the blow.

It’s feasible in situations where a loss wouldn’t substantially harm you. It’s more logical for people who are tolerant of risk.

Thanks

[bruinmd]

I use JM. I was advised by my AD and others that their coverages and ease of dealing with beats out any home owners personal articles policy. I don't know if that's true or not, but the cost was roughly equivalent to that of State Farm.

[GB-man]

Originally Posted by Russell996

Also very dependent on the pieces owned.

With a premium of approx 0.5% of value insured, pieces under £50k remaining un-named (and therefore not contributing to the insurance cost) and other pieces that are unobtainium insured and valued at grey market value I think the policy I have is money well spent. Having had to claim over £35k on a lost piece in the past I take great comfort from never having to worry.

That is a great rate. I get quotes around 1.5% where I live which makes it a non starter for me.

I would be tempted to insure that one you have the can send and receive "email"

[AlexWazo]

None, the benefits combined with my probability assumptions given my lifestyle don’t outweigh the premium cost me for

[Fat_ninja]

Originally Posted by GB-man

Basically just means instead of paying a premium to a third party you save that money and if shit hits the fan hopefully what you saved in premiums lessens the blow.

It’s feasible in situations where a loss wouldn’t substantially harm you. It’s more logical for people who are tolerant of risk.

Yeah what u said

[othertbone]

I am waiting for a quote from Chubb and am hoping it will be less than 1.5%.

State Farm was 1.5% but only insures an appraisal. Won't take in to account the grey inflated replacement cost. I think you can set your value with Chubb.

[Kliminator]

Originally Posted by othertbone

I am waiting for a quote from Chubb and am hoping it will be less than 1.5%.

State Farm was 1.5% but only insures an appraisal. Won't take in to account the grey inflated replacement cost. I think you can set your value with Chubb.

What did Chubb end up coming back with?

[i-know-a-bit]

Watches are insured over my content insurance which covers 40 percent of the insurance sum for valuables (watches, jewlery, gold, platinum, cash, security). They can lie around openly.
Example: 30 y/o, 75 sqm appartment in average area, insurance of 200,000 EUR which covers 80,000 in valuables. Price around 450-500 EUR p.a.

[astewartconst]

I look at insurance as something needed to cover a loss that I cannot handle financially. If I could not financially handle losing a watch then I probably should not own it


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[JR16]

Originally Posted by astewartconst

I look at insurance as something needed to cover a loss that I cannot handle financially. If I could not financially handle losing a watch then I probably should not own it


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Interesting. So out of curiousity do you insure your car (other than mandatory liability insurance)?


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[Russell996]

Originally Posted by astewartconst

I look at insurance as something needed to cover a loss that I cannot handle financially. If I could not financially handle losing a watch then I probably should not own it


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Well having only pieces that you can afford to lose is a sensible choice. This for me isn’t an option and i’m happy to pay 0.5%.

[Kliminator]

Originally Posted by astewartconst

I look at insurance as something needed to cover a loss that I cannot handle financially. If I could not financially handle losing a watch then I probably should not own it


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Losing a watch that is 7k is a lot easier to swallow than a watch that is 30k... Or 50k. Or 100k.

People pay for peace of mind

[brandrea]

Originally Posted by GB-man

That is a great rate. I get quotes around 1.5% where I live which makes it a non starter for me.

I would be tempted to insure that one you have the can send and receive "email"

Same here

We pay some of the highest rates in the country where I live, yet we love in a sleepy little village

[othertbone]

Originally Posted by Kliminator

What did Chubb end up coming back with?

Chubb was 1.9%

[jag32]

USAA valuable personal property policy and each watch over $5,000 is insured for the full replacement value. For example, my blue dial Royal Oak was $19k MSRP but replacement value is $29k. Just need an appraisal on the pieces of older than 5 years.

[Heff]

Originally Posted by jag32

USAA valuable personal property policy and each watch over $5,000 is insured for the full replacement value. For example, my blue dial Royal Oak was $19k MSRP but replacement value is $29k. Just need an appraisal on the pieces of older than 5 years.

This is how I insure my watches. But USAA told me the watch can only be insured for 125% of MSRP until it is over 5 years old. Then appraisal value is fully covered.


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[Kliminator]

Originally Posted by othertbone

Chubb was 1.9%

I'm looking to get a quote from them but they don't do it online. They have independent agencies that you need to get in touch with.

I'm currently @ 1.5% for my current items with Jewelers Mutual but wanted to add a few more. They want 1.9% for those new items and I'm being told that it's because of the value

Soo... time to see if there are any better alternatives out there.

[Gunner85]

Originally Posted by ct.matt

Personal articles standalone through Statefarm. Global coverage for loss, theft, and damage. Annual premium is half of JM in my experience

Same