UK Insurance

[The Sub-lime One]

Hi all,

I'm looking for some advice here on insuring my Sub. My flat is pretty secure so we do not have our home contents insured. Our main valuables are my Mother's jewellery which is safely secured at the bank. A few friends have recommended certain jewellers within my area but they charge a 1% fee and I'd like to fish around first and get a decent deal. What are your thoughts?

Thanks in advance

Dee

[Sean.UK]

I have a jewlery polcy with TH March.
Look them up. Covers you abroad also.

[Pict]

Yep THMarch as well. £116 pa for an SD. I think they prefer you to send them a valuation, if you don't have one suggest you check with them.

[AK797]

M&S and Hiscox are good I hear.

[savoytruffle]

Your flat may be secure but have you considered what would happen if there was a fire and you lost all of your contents? This is more likely in a block of flats remember.... I always insure - everything. As for which insurance to go for, I wouldn't trust individual item cover because it usually restricts you to the UK or Europe only and can be more expensive (for £100 you could probably insure all of your contents as well) You'd be more likely to get worldwide cover if you took out contents insurance and covered the watch under the personal belongings section.

[Ck8]

M&S premier cover, can't go wrong.

[1000ft=300m]

Further to savoytruffles comment, flats are also at greater risk of flood damage, people in the flat above have a leak or are negligent in some way, and your possessions get ruined, obviously shouldn't affect a watch with the depth rating of a submariner, but nonetheless. For peace of mind in the very least, get yourself a quote!

[codecow]

I never understood the watch insurance, I just keep the ones I'm not wearing in the bank vault. With my collection it would probably be ~2k/yr for insurance.

[AK797]

Originally Posted by codecow

I never understood the watch insurance, I just keep the ones I'm not wearing in the bank vault. With my collection it would probably be ~2k/yr for insurance.

No bank vaults / safety deposit box in UK any more.

[strafer_kid]

Not sure about pretty secure.........and as someone else has mentioned, what about fire. You are probably best going for contents insurance together with specified items cover. Will be at big on the pricey side but ultimately it provides the most comprehensive solution. Some insurance companies like the one I am with, also specifies alarm and a safe if the watches are of a certain value. Main thing here is that you do not attempt to short cut things .......does not pay in the long run!

[kentrojan1]

I use T H March aswel

[tattooedfagin]

Originally Posted by AK797

No bank vaults / safety deposit box in UK any more.

A friend had a box at Barclays until they ceased, they pointed him to Selfridges

http://www.selfridges.com/en/StaticP...posit%20Boxes/

[The GMT Master]

Regarding safety deposit boxes, if you're in the South, Metro Bank now offers them, small ones cost about £120 a year

[AK797]

Cheers guys, very interesting.

[James M]

House insurance?

[The Sub-lime One]

Originally Posted by Sean.UK

I have a jewlery polcy with TH March.
Look them up. Covers you abroad also.

Thanks Sean, I contacted TH March and they quoted me £218.63 for 12 months cover. Not bad but I'm still looking around...

[The Sub-lime One]

Originally Posted by savoytruffle

Your flat may be secure but have you considered what would happen if there was a fire and you lost all of your contents? This is more likely in a block of flats remember.... I always insure - everything. As for which insurance to go for, I wouldn't trust individual item cover because it usually restricts you to the UK or Europe only and can be more expensive (for £100 you could probably insure all of your contents as well) You'd be more likely to get worldwide cover if you took out contents insurance and covered the watch under the personal belongings section.

Good point mate, I hadn't considered that but will enquire with my bank after the Easter break

[The Sub-lime One]

Originally Posted by 1000ft=300m

Further to savoytruffles comment, flats are also at greater risk of flood damage, people in the flat above have a leak or are negligent in some way, and your possessions get ruined, obviously shouldn't affect a watch with the depth rating of a submariner, but nonetheless. For peace of mind in the very least, get yourself a quote!

I'm at the top fella, no chance of that happening unless there's a leak on the roof!

[The Sub-lime One]

Originally Posted by The GMT Master

Regarding safety deposit boxes, if you're in the South, Metro Bank now offers them, small ones cost about £120 a year

Chris, I tried giving you a ring for advice on this but once again you weren't at work... Time to lay off the forum and go to work more often!

[Xenophon]

Originally Posted by Ck8

M&S premier cover, can't go wrong.

Thanks Mark. Just took up a policy with Marks & Sparks which cover any watch up to £15K.

[Mr Singh]

I've added all of mine to my contents cover with Direct Line Insurance. They charge around £50 per watch.

[The Sub-lime One]

Originally Posted by Mr Singh

I've added all of mine to my contents cover with Direct Line Insurance. They charge around £50 per watch.

Blimey Paji, how many have you got?!

[Mr Singh]

Originally Posted by The Sub-lime One

Blimey Paji, how many have you got?!

LOL baas paata tenu... give them a call as contents insurance automatically cover items upto £4000 anyway. Only need to list items above this amount.

[The Sub-lime One]

Originally Posted by Mr Singh

LOL baas paata tenu... give them a call as contents insurance automatically cover items upto £4000 anyway. Only need to list items above this amount.

True say brother... Rab Rakha!

[Yoda]

Originally Posted by AK797

No bank vaults / safety deposit box in UK any more.

Plenty in Central London. For high end watches Hiscox is your best bet.

[Ck8]

Originally Posted by Xenophon

Thanks Mark. Just took up a policy with Marks & Sparks which cover any watch up to £15K.

Yes that is £15k at home, then you set the value away from home for all cover. So I did £10k which covers two watches, very rare I take two watches away from home.

[Ricky Rolex]

Originally Posted by The Sub-lime One

Thanks Sean, I contacted TH March and they quoted me £218.63 for 12 months cover. Not bad but I'm still looking around...

Does that cover loss or just theft?

Wouldn't mind insuring mine but never looked into it.

Also if worst was to happen (touch wood it doesn't) how long do insurers take to pay out & do they pay what it says on an appraisal thingy from a jewellers or is it a % of that figure??

[Ricky Rolex]

Anyone??

[ARTISAN]

insurance company wanted £1250 for cover on my watches,,,,,,,,,,,,,,,,,easier to have alarm system and large safe..................I think watches are expensive enough without adding £1250 each year. [ you can only wear 1 at a time ]
alarm £30 a month .

[The Sub-lime One]

Originally Posted by Ricky Rolex

Anyone??

I believe it was theft only as they insisted I wouldn't be covered if I "left" it anywhere...

Can't comment on the payout details as mine hasn't been insured before