Odds of replacement

[Bdiesel570]

What are the odds of someone placing an insurance claim for a high demand reference and the insurance actually being able to replace the watch? Like a BLNR, Hulk or DaytonaC.

Would they opt to pay out versus source a new one?

I always wondered that.

Thanks.

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[locutus49]

I am with USAA and they will give me money to buy another. They won't replace per se.

[upsidedownbelt]

I am also with USAA and when I insured my watches with them they explained they have some type of Rolex sourcing thing in place. No idea what that means or how it works, but I always figured if they can’t source what you lost they would just pay out and let you do it.

[kauffee]

Jewelry insurance is usually based on appraised value. For most modern Rolex, the insurance companies will use the receipt as an appraisal and just insure it for MSRP. Even if you get it at a discount, the AD should give you an "appraisal" receipt at MSRP.

If I was insuring a Daytona C, I would probably have it appraised for market value. There's no point in insuring it at MSRP if you can't rapidly replace it at MSRP.

[Mystro]

I am now under insured with my Hulk. I have a agreed value amount for each watch on my policy. It’s a calculated risk.

[The Libertine]

Originally Posted by kauffee

Jewelry insurance is usually based on appraised value. For most modern Rolex, the insurance companies will use the receipt as an appraisal and just insure it for MSRP. Even if you get it at a discount, the AD should give you an "appraisal" receipt at MSRP.

Correct!

[Bdiesel570]

Originally Posted by The Libertine

Correct!

Makes sense. I was just wondering if some elect for replacement vs reimburse.

Don't some insurance prefer to replace the item? It would take quite sometime to replace the in demand models, or do they have a way to procure them?

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[SevenWays]

Gemshield - replacement at the original jeweler for appraised value, which is MSRP plus tax. You don't get money, you get another watch. How long it takes is not their problem.

[MCO1]

This has crossed my mind in regards to my Daytona! I am curious how it would be handled by the insurance company.

[Quailhunter]

My watches are insured for replacement for as new cost. If any of my watches are lost I get a new replacement even for a 25 year old DayDate.. How the insurance company gets the replacement is their issue. None of my watches are difficult to find in the USA. I pay a premium for this coverage, but it’s worth it to me.

My wife’s Rolex was lost years ago. I was exceptionally pleased with the insurance company’s handling of the issue.