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Desibaba · 5 October 2016, 06:07 AM

I had it added to my homeowners policy through Liberty Mutual. $500 deductible and this is the payout if the watches are stolen or I'm robbed etc. $313 annual premium. I used the appraisal to get the payout amount determined if I need to file a claim.

jon_jon · 5 October 2016, 06:24 AM

It seems in line with insurance companies that commonly charge between 1-2% of replacement value, depending on where you live.

Thunderdan · 5 October 2016, 06:27 AM

That seems about in the ballpark, but on the higher end.
I have a policy with USAA that's for a higher insured value, zero deductible, and came out slightly cheaper than your premium.
I've been with USAA for years and they're great. I didn't do a whole lot of other shopping around, so I don't know what range other insurers would come in at.

Hodog16 · 5 October 2016, 08:33 AM

Yes USAA is about 1.2 percent of value for reference with zero deductible.

I insure for how much it would cost me to replace, not full MSRP.

Desibaba · 5 October 2016, 09:18 AM

I am new to Liberty Mutual so maybe that has something to do with it.

Dr.Brian · 5 October 2016, 10:03 AM

I use USAA as well, they're cheaper and zero deductible.
Can't beat that.

mjclark32 · 5 October 2016, 10:05 AM

May as well get a quote from jewelers mutual

KevNev · 5 October 2016, 10:09 AM

Will Liberty Mutual cut you a check in the event of a loss?

I have Jewelers Mutual and as far as I know, they will only replace the watch. That's why I have mine insured for full retail.

LuminousMaximus · 5 October 2016, 10:10 AM

I conferred with the Magic 8-Ball, and it said I did not need to worry...

returntorolex · 5 October 2016, 10:49 AM

Quote:

Originally Posted by mjclark32

May as well get a quote from jewelers mutual

I would agree with this recommendation, especially since your deductible is $500. My H.O. policy has a $100 deductible and my rate is roughly 1.125%.

Desibaba · 6 October 2016, 05:32 AM

I did the online quote with jeweler's mutual and while the premium is lower with a zero deductible they are saying they will "Replace" the item with a comparable one while working with your jeweler. What if I just wanted CASH for the full appraised amount so I can upgrade or get something else altogether?

pampam · 6 October 2016, 05:42 AM

I'll stay away from Jeweler's Mutual, go to the big boys like State Farm.

GotF1 · 6 October 2016, 05:45 AM

Quote:

Originally Posted by Hodog16

Yes USAA is about 1.2 percent of value for reference with zero deductible.

I insure for how much it would cost me to replace, not full MSRP.

I'm with USAA as well and similar to you in cost.

Desibaba · 6 October 2016, 07:59 AM

Quote:

Originally Posted by pampam

I'll stay away from Jeweler's Mutual, go to the big boys like State Farm.

I have State Farm for my car and Liberty Mutual for my Homeowners. Any reason why you would stay away from Jeweler's Mutual?

vman · 6 October 2016, 08:13 AM

This is a bit on the expensive side.

returntorolex · 6 October 2016, 09:41 AM

Quote:

Originally Posted by Desibaba

I did the online quote with jeweler's mutual and while the premium is lower with a zero deductible they are saying they will "Replace" the item with a comparable one while working with your jeweler. What if I just wanted CASH for the full appraised amount so I can upgrade or get something else altogether?

Have you read your policy? They will likely replace your timepiece with like kind and quality.

returntorolex · 6 October 2016, 10:05 AM

Quote:

Originally Posted by Desibaba

I did the online quote with jeweler's mutual and while the premium is lower with a zero deductible they are saying they will "Replace" the item with a comparable one while working with your jeweler. What if I just wanted CASH for the full appraised amount so I can upgrade or get something else altogether?

Have you read your policy? They will likely replace your timepiece with like kind and quality.

bcr223 · 6 October 2016, 10:22 AM

I have Jewelers Mutual. Insured my DateJust for full replacement cost plus tax (approx. $8,600), no deductible, and the annual premium is about $180. Interestingly, I have Allstate renter's insurance and they recommended JM. I was told that if I put the watch on my renter's policy and anything happened to it, my premium would escalate substantially, and it's better to keep the two separate. Wempe jewelers in NYC also suggested JM.

Sent from my iPhone using Tapatalk

Desibaba · 6 October 2016, 11:09 AM

Ill tell the lady at Liberty Mutual to cancel the Jewelry Policy and just leave my homeowners on. Ill get the one from jewelers mutual.

hbombkid · 6 October 2016, 12:50 PM

I have travelers for everything so maybe I am getting discounts, but I pay about 1.10% over the value of watches and jewelry. My deductible is 100 per year.

Seems like you should be getting a better pice based off the value.

Also if you decide JM is not right, you could have a separate jewelry policy. It's not a rider aka if you ever filed a claim home owners insurance would not increase or show a claim.

5 October 2016, 06:07 AM	#1
Desibaba "TRF" Member Join Date: Jul 2014 Location: Ft Lauderdale, Fl Watch: Sub,Pam90,SA2 Posts: 595	Is this a decent insurance premium for my Bluesy and Pam 90? I had it added to my homeowners policy through Liberty Mutual. $500 deductible and this is the payout if the watches are stolen or I'm robbed etc. $313 annual premium. I used the appraisal to get the payout amount determined if I need to file a claim.

5 October 2016, 10:03 AM	#6
Dr.Brian "TRF" Member Join Date: Sep 2009 Real Name: Brian Location: CA dreamin' Watch: ing the market. Posts: 5,909	I use USAA as well, they're cheaper and zero deductible. Can't beat that. __________________ -Brian AUDENTES FORTUNA IUVAT 十人十色

5 October 2016, 10:05 AM	#7
mjclark32 "TRF" Member Join Date: Mar 2010 Real Name: MJC Location: PHL USA Watch: IWC, Rolex, AP Posts: 29,232	May as well get a quote from jewelers mutual __________________

5 October 2016, 10:10 AM	#9
LuminousMaximus 2025 TitaniumYM Pledge Member Join Date: Jan 2013 Location: USA Watch: me hit Huge Lotto Posts: 6,516	I conferred with the Magic 8-Ball, and it said I did not need to worry... __________________ “Every man Dies... Not Every Man, Really Lives.” – William Wallace - To really lives means to live your life to the fullest. It means to chase your dreams, take risks, and to love life. Since everyone’s fate is the same, why not live the best life that you possibly can? In order to really live,you must seize the day. Live each day as if it's your last and overall just do it! Today is a gift, that’s why it’s called the present...

6 October 2016, 12:50 PM	#20
hbombkid "TRF" Member Join Date: Apr 2014 Location: VA Watch: Sub 116610 Posts: 1,082	Is this a decent insurance premium for my Bluesy and Pam 90? I have travelers for everything so maybe I am getting discounts, but I pay about 1.10% over the value of watches and jewelry. My deductible is 100 per year. Seems like you should be getting a better pice based off the value. Also if you decide JM is not right, you could have a separate jewelry policy. It's not a rider aka if you ever filed a claim home owners insurance would not increase or show a claim.

5 October 2016, 06:24 AM	#2
jon_jon "TRF" Member Join Date: Mar 2009 Location: USA Posts: 4,365	It seems in line with insurance companies that commonly charge between 1-2% of replacement value, depending on where you live.

5 October 2016, 06:27 AM	#3
Thunderdan "TRF" Member Join Date: May 2016 Real Name: Dan Location: Bellevue, WA Posts: 10	That seems about in the ballpark, but on the higher end. I have a policy with USAA that's for a higher insured value, zero deductible, and came out slightly cheaper than your premium. I've been with USAA for years and they're great. I didn't do a whole lot of other shopping around, so I don't know what range other insurers would come in at.

5 October 2016, 08:33 AM	#4
Hodog16 "TRF" Member Join Date: Mar 2011 Location: NC Watch: RG Olive DD40 Posts: 1,816	Yes USAA is about 1.2 percent of value for reference with zero deductible. I insure for how much it would cost me to replace, not full MSRP.

5 October 2016, 09:18 AM	#5
Desibaba "TRF" Member Join Date: Jul 2014 Location: Ft Lauderdale, Fl Watch: Sub,Pam90,SA2 Posts: 595	I am new to Liberty Mutual so maybe that has something to do with it.

5 October 2016, 10:09 AM	#8
KevNev "TRF" Member Join Date: Aug 2013 Location: Maryland Watch: 116618LN Posts: 483	Will Liberty Mutual cut you a check in the event of a loss? I have Jewelers Mutual and as far as I know, they will only replace the watch. That's why I have mine insured for full retail.

6 October 2016, 05:32 AM	#11
Desibaba "TRF" Member Join Date: Jul 2014 Location: Ft Lauderdale, Fl Watch: Sub,Pam90,SA2 Posts: 595	I did the online quote with jeweler's mutual and while the premium is lower with a zero deductible they are saying they will "Replace" the item with a comparable one while working with your jeweler. What if I just wanted CASH for the full appraised amount so I can upgrade or get something else altogether?

6 October 2016, 05:42 AM	#12
pampam "TRF" Member Join Date: Jan 2015 Location: NYC Posts: 179	I'll stay away from Jeweler's Mutual, go to the big boys like State Farm.

6 October 2016, 08:13 AM	#15
vman "TRF" Member Join Date: Dec 2007 Real Name: Capt Swerve Location: North Carolina Watch: less TV Posts: 2,230	This is a bit on the expensive side.

6 October 2016, 10:22 AM	#18
bcr223 "TRF" Member Join Date: Feb 2015 Location: NYC Watch: Rolex DateJust Posts: 3	I have Jewelers Mutual. Insured my DateJust for full replacement cost plus tax (approx. $8,600), no deductible, and the annual premium is about $180. Interestingly, I have Allstate renter's insurance and they recommended JM. I was told that if I put the watch on my renter's policy and anything happened to it, my premium would escalate substantially, and it's better to keep the two separate. Wempe jewelers in NYC also suggested JM. Sent from my iPhone using Tapatalk

6 October 2016, 11:09 AM	#19
Desibaba "TRF" Member Join Date: Jul 2014 Location: Ft Lauderdale, Fl Watch: Sub,Pam90,SA2 Posts: 595	Ill tell the lady at Liberty Mutual to cancel the Jewelry Policy and just leave my homeowners on. Ill get the one from jewelers mutual.

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