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iwantagmt · 19 February 2009, 07:58 AM

Anyone insure their watches? details? What about $20k and up watches?

I've been wondering this for some time and it just occured to me to ask.

Thanks!

shelley · 19 February 2009, 08:10 AM

Hi, I am an insurance agent so I may be able to help you with this question. If you have a homeowner's insurance policy, you should be able to schedule coverage for the watch. So basically it would be like a rider on your existing policy. They will more than likely need an appraisal for high value items. Most homeowners insurance policies have a limit they will pay for watch replacement. In NC, we pay only $1500 and that's it. However, if you schedule the watch it is covered for full replacement value. There is no limit.

I hope this helps.

iwantagmt · 19 February 2009, 11:16 AM

Great to know thanks!

Mort · 20 February 2009, 12:02 AM

With my insurance, I have what is know as a inland marine policy. My watches are insured for theft or loss at the newest full retail of each based on my last apprasal.

Its not the cheapest way, but with my insuance company I have been with forever, that is how they insure jewelry, furs ect.

Terry Newton · 20 February 2009, 02:13 AM

I have a rider on all of our jewelry. If we did not have this we would barely be covered for anything. I am insured if I drop my watch even. The only thing I would have to pay for is my deductible.

A tale from several years ago is this:

My wife went out to get us some food. Within a few minutes there came a knock on the front door and it was Elizabeth. She was crying her little heart out, yelling; "I lost it." When I finally got her to stop crying she told me that her 1 carat diamond fell out of her wedding ring. It was not insured except, the basic homeowners policy, which would not have covered the cost of the stone. An hour later I saw a glint of light near the chair that I sit in. Sure enough, it was her diamond. I have insured all of our jewelry ever since. Elizabeth has her wedding ring checked every six months to a year to make sure the prongs are holding up well.

Moral of the story: Get insurance. Always make the wife happy at all costs.

Terry Newton

chriseskew24 · 20 February 2009, 02:34 AM

Thanks for the story terry i am happy you found the diamond..

chriseskew24 · 20 February 2009, 02:34 AM

Thanks for the story terry i am happy you found the diamond..

19 February 2009, 07:58 AM	#1
iwantagmt "TRF" Member Join Date: Dec 2008 Real Name: Brandon Location: Indy: GO COLTS!!! Watch: Omega Seamaster PO Posts: 337	Watch insurance? Anyone insure their watches? details? What about $20k and up watches? I've been wondering this for some time and it just occured to me to ask. Thanks!

20 February 2009, 12:02 AM	#4
Mort "TRF" Member Join Date: Sep 2005 Location: Atlanta GA Posts: 1,001	With my insurance, I have what is know as a inland marine policy. My watches are insured for theft or loss at the newest full retail of each based on my last apprasal. Its not the cheapest way, but with my insuance company I have been with forever, that is how they insure jewelry, furs ect. __________________ Collection Stainless DJ II Rhodium with Arabic Dial 116334, Longines RG Master Collection Chronograph Triple Date Moon, Maurice Lacroix TT Masterpiece Triple Date Moon, Vintage Gallet SS Flying Officer Chronograph

20 February 2009, 02:13 AM	#5
Terry Newton "TRF" Member Join Date: Jan 2008 Real Name: Terry Newton Location: Michigan Watch: Rolex TT GMT II c Posts: 6,644	I have a rider on all of our jewelry. If we did not have this we would barely be covered for anything. I am insured if I drop my watch even. The only thing I would have to pay for is my deductible. A tale from several years ago is this: My wife went out to get us some food. Within a few minutes there came a knock on the front door and it was Elizabeth. She was crying her little heart out, yelling; "I lost it." When I finally got her to stop crying she told me that her 1 carat diamond fell out of her wedding ring. It was not insured except, the basic homeowners policy, which would not have covered the cost of the stone. An hour later I saw a glint of light near the chair that I sit in. Sure enough, it was her diamond. I have insured all of our jewelry ever since. Elizabeth has her wedding ring checked every six months to a year to make sure the prongs are holding up well. Moral of the story: Get insurance. Always make the wife happy at all costs. Terry Newton __________________ Terry Newton; Superstar and Fake Sleuth "Z" SS Date Submariner "Z" TT GMT-Master IIc

19 February 2009, 08:10 AM	#2
shelley "TRF" Member Join Date: Jul 2008 Location: NC Watch: Diamond Datejust Posts: 275	Hi, I am an insurance agent so I may be able to help you with this question. If you have a homeowner's insurance policy, you should be able to schedule coverage for the watch. So basically it would be like a rider on your existing policy. They will more than likely need an appraisal for high value items. Most homeowners insurance policies have a limit they will pay for watch replacement. In NC, we pay only $1500 and that's it. However, if you schedule the watch it is covered for full replacement value. There is no limit. I hope this helps.

19 February 2009, 11:16 AM	#3
iwantagmt "TRF" Member Join Date: Dec 2008 Real Name: Brandon Location: Indy: GO COLTS!!! Watch: Omega Seamaster PO Posts: 337	Great to know thanks!

20 February 2009, 02:34 AM	#6
chriseskew24 "TRF" Member Join Date: Sep 2008 Real Name: Christopher Location: fort lauderdale Watch: Bunches Posts: 1,860	Thanks for the story terry i am happy you found the diamond..

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