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liuk3 · 1 July 2012, 01:26 PM

Just curious people's thoughts. At what price point value would you not bother insuring your watch? In other words, if you had a watch that was worth or cost you $3000, would you bother insuring it? If you had a watch that was worth or cost you $1000, would you bother insuring it? Hope you get the idea.

steebee2 · 1 July 2012, 01:34 PM

Yes

kilyung · 1 July 2012, 03:11 PM

As all my watches are over $1k and insured, I guess my threshold is $1k.

Nigel1100 · 1 July 2012, 07:21 PM

With my household policy all watches under £2k are covered and my other watches are individual covered. I have accidental damage cover as well as the usual. You never know if one might fall off the wrist.

Dan Pierce · 1 July 2012, 11:02 PM

Jewelersmutual.com.
dP

swissautopro · 1 July 2012, 11:55 PM

Mine are all covered. My philosophy is simple...if I spent hard earned money on it and it is insurable, it's covered, regardless of the value.

topofk2 · 2 July 2012, 12:04 AM

I find that insurance is basically a fear driven industry. Many time insurance is required by law so I have to have it. I am not a big fan of paying "monthly" premiums for life, based on my own fears. Yeah, things happen and then you feel like an idiot for not having it ---- So I take my chances.

It all depends on how much the monthly premium is.

hsfrank · 2 July 2012, 01:21 AM

The operative question is "How much can you stand to lose?" To some $1000 is a lot while others $10000 may not pose a problem. To that answer you must ask a second question " Realisticly what is the risk?" While many things can happen to your watch that insurance will cover, the actual risk of any or all is small. Look at this forum. Considering the number of members,the number of new topics, etc the number that pertain to loss, theft or damage is few. Therefore the premium to cover that loss is quite small , a few percent. The operative rule is Never risk a lot to save a little. I insure. Recently my wife lost her bracelet, actually did not know where it was. Reported to the company . It was a mysterious disappearance. We were paid the same day. The coverage was part of our scheduled jewelry floater where anything under $ xxx dollars is insured for free.

beshannon · 2 July 2012, 01:26 AM

Yes

Galump · 2 July 2012, 01:28 AM

Yes on anything over 1k

Tudor66 · 2 July 2012, 01:38 AM

My home owners covers any jewelery up to 1,500. I have a rider on my policy for my more expensive watches, yes you pay a little more each year for your insurance, but I'm covered with my nicer watches if anything happens to them...

I recently heard about a Submariner owner who lost his watch on Vacation while scuba diving... One week later he had a check for 7,000 dollars...I bet he is glad he had insurance...

liuk3 · 2 July 2012, 01:58 AM

Quote:

Originally Posted by hsfrank

The operative question is "How much can you stand to lose?" To some $1000 is a lot while others $10000 may not pose a problem. To that answer you must ask a second question " Realisticly what is the risk?" While many things can happen to your watch that insurance will cover, the actual risk of any or all is small. Look at this forum. Considering the number of members,the number of new topics, etc the number that pertain to loss, theft or damage is few. Therefore the premium to cover that loss is quite small , a few percent. The operative rule is Never risk a lot to save a little. I insure. Recently my wife lost her bracelet, actually did not know where it was. Reported to the company . It was a mysterious disappearance. We were paid the same day. The coverage was part of our scheduled jewelry floater where anything under $ xxx dollars is insured for free.

I think that you're overthinking the question. It's just a simple poll type question. Just wondering what your personal threshold is.

It occurred to me the other daythat I really don't have much insured that is less than say $8K to replace. Then, it got me thinking what others do and what the personal threshold should be. I am considering that maybe I should lower my own personal insurance threshold for insuring valuables.

Personally, I think that the risk is low for any of my possessions, but I did want to have insurance for the higher tickets items. It's been interesting seeing the responses. Thanks.

liuk3 · 2 July 2012, 02:03 AM

Quote:

Originally Posted by Newbieone

My home owners covers any jewelery up to 1,500. I have a rider on my policy for my more expensive watches, yes you pay a little more each year for your insurance, but I'm covered with my nicer watches if anything happens to them...

I recently heard about a Submariner owner who lost his watch on Vacation while scuba diving... One week later he had a check for 7,000 dollars...I bet he is glad he had insurance...

Thanks, we're looking at various home owner's insurance quotes as well now.

Thanks as well to everyone for their responses as well.

1 July 2012, 01:26 PM	#1
liuk3 "TRF" Member Join Date: Dec 2011 Location: Los Angeles Posts: 3,354	Insure your watches? Just curious people's thoughts. At what price point value would you not bother insuring your watch? In other words, if you had a watch that was worth or cost you $3000, would you bother insuring it? If you had a watch that was worth or cost you $1000, would you bother insuring it? Hope you get the idea. __________________ "Appreciate your life!"

1 July 2012, 11:02 PM	#5
Dan Pierce 2024 Pledge Member Join Date: Dec 2006 Real Name: D'OH! Location: Kentucky Watch: Rolex-1 Tudor-3 Posts: 36,174	Jewelersmutual.com. dP __________________ TRF Member# 1668 Bass Player in TRF "AFTER DARK" Bar & NightClub Band Commander-in-Chief of The Nylon Nation The Crown & Shield Club Honorary Member of P-Club

1 July 2012, 11:55 PM	#6
swissautopro "TRF" Member Join Date: Dec 2008 Real Name: Mike Location: South Carolina Watch: 3.3M 1655 Mk I Posts: 2,384	Mine are all covered. My philosophy is simple...if I spent hard earned money on it and it is insurable, it's covered, regardless of the value. __________________ "A little sleep, a little slumber, a little folding of the hands to rest, and poverty will come upon you like a bandit, and scarcity like an armed man." Proverbs 24 "It is better to remain silent and be thought a fool, than open your mouth and remove all doubt." Unknown "Better to be a nobody and yet have a servant than pretend to be somebody and have no food." Proverbs 12 Last edited by swissautopro; 1 July 2012 at 11:56 PM.. Reason: sp

2 July 2012, 01:21 AM	#8
hsfrank "TRF" Member Join Date: Jan 2009 Real Name: Herbert Frank Location: Middletown,De Watch: President Posts: 1,641	The operative question is "How much can you stand to lose?" To some $1000 is a lot while others $10000 may not pose a problem. To that answer you must ask a second question " Realisticly what is the risk?" While many things can happen to your watch that insurance will cover, the actual risk of any or all is small. Look at this forum. Considering the number of members,the number of new topics, etc the number that pertain to loss, theft or damage is few. Therefore the premium to cover that loss is quite small , a few percent. The operative rule is Never risk a lot to save a little. I insure. Recently my wife lost her bracelet, actually did not know where it was. Reported to the company . It was a mysterious disappearance. We were paid the same day. The coverage was part of our scheduled jewelry floater where anything under $ xxx dollars is insured for free. __________________ Time and Tide wait for no man Rolex Cellini 4133 Tudor North Flag HERS: Rolex TTDJ

2 July 2012, 01:26 AM	#9
beshannon "TRF" Member Join Date: Jun 2009 Real Name: Brian Location: Northern Virginia Watch: One of Not Many Posts: 17,892	Yes __________________ IWC Portugieser 7 Day, Omega Seamaster SMP300m, Vacheron Constantin Traditionnelle Complete Calendar, Glashutte PanoInverse, Glashutte SeaQ Panorama Date, Omega Aqua Terra 150, Omega CK 859, Omega Speedmaster 3861 Moonwatch, Breitling Superocean Steelfish, JLC Atmos Transparent Clock

1 July 2012, 01:34 PM	#2
steebee2 "TRF" Member Join Date: Oct 2011 Real Name: Steve Location: New York City Watch: 116233 Posts: 193	Yes

1 July 2012, 03:11 PM	#3
kilyung 2024 SubLV41 Pledge Member Join Date: Jul 2009 Location: Cave Watch: Sundial Posts: 33,940	As all my watches are over $1k and insured, I guess my threshold is $1k.

1 July 2012, 07:21 PM	#4
Nigel1100 Member Join Date: Jun 2009 Location: Somerset, England Posts: 41	With my household policy all watches under £2k are covered and my other watches are individual covered. I have accidental damage cover as well as the usual. You never know if one might fall off the wrist.

2 July 2012, 12:04 AM	#7
topofk2 Banned Join Date: Jun 2012 Location: oregon Posts: 162	I find that insurance is basically a fear driven industry. Many time insurance is required by law so I have to have it. I am not a big fan of paying "monthly" premiums for life, based on my own fears. Yeah, things happen and then you feel like an idiot for not having it ---- So I take my chances. It all depends on how much the monthly premium is.

2 July 2012, 01:28 AM	#10
Galump Member Join Date: Jan 2012 Real Name: Martin Location: MS Gulf Coast Watch: Rolex 116203 Posts: 78	Yes on anything over 1k

2 July 2012, 01:38 AM	#11
Tudor66 "TRF" Member Join Date: Aug 2011 Real Name: Al Location: California, USA Watch: GMT- Pepsi Posts: 3,462	homeowners... My home owners covers any jewelery up to 1,500. I have a rider on my policy for my more expensive watches, yes you pay a little more each year for your insurance, but I'm covered with my nicer watches if anything happens to them... I recently heard about a Submariner owner who lost his watch on Vacation while scuba diving... One week later he had a check for 7,000 dollars...I bet he is glad he had insurance... __________________ -NAWCC Member

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