1st call incoming. Wife’s first Rolex… insurance advice UK

[Xhulio]

Got a call from my local AD for my wife’s first Rolex. Lady-Datejust 28 Everose Gold Choco Roman Jubilee. 3-4 months after going on the list for it. Retails for £8150
She originally wanted another model but no longer interested in that particular model.
She’s over the moon nonetheless.

I know my local AD mappin and Webb offers insurance which I thought it’s a bit expensive. £1750 for 5 years.

After some advice on best way of insuring it & how other people insure there watches.

I questioned the AD on the wait for the Rootbeer I’m currently down for.
Also put myself down for the gold blue submariner ( my new favourite)
he said unable to say but this first purchase will certainly help you.

I questioned him where he thinks the watch market is going? Cause I believe there is a crash happening. Every dog knows we heading for a recession .He doesn’t seem to think so ( I mean he would say that ) that the watch market will crash.

He seemed to think the Rootbeer on the grey won’t drop anymore.
But the blue gold sub will continue to drop.

[bp1000]

House insurance, AXA, Hiscox, NFU Mutual, all decent.

Shouldn't be much, maybe £50-£100 extra per year, depends on you really.

Second part, not so sure what you are asking. Buy what you like, the TT GMT is a beauty. Prices will constantly change.

[Harry-57]

Check your home insurance policy. The watch should be covered at MSRP. I have one watch which is discontinued. It is insured with Ripe insurance for my AD's appraisal value, which I get done every year.

[Xhulio]

Originally Posted by Harry-57

Check your home insurance policy. The watch should be covered at MSRP. I have one watch which is discontinued. It is insured with Ripe insurance for my AD's appraisal value, which I get done every year.

Does home insurance only cover up to the retail value of the watch ?
Had a quick look on ripe , is the quote they provided I’m assuming for an annual policy ?

I’ve always wondered if you were to buy a watch at grey. You paid 20k but it’s worth 12k retail. Do they cover you how much you paid for it or the retail value ?

Apparently mappin and Webb said you get an instant replacement if it was to be lost or stolen.

[Greenwood_]

We use TH March for jewellery and watches. You can choose to insure at MSRP or market (provided you have a valuation).

My policy is probably circa 2% of watch value per annum.

[Smurf_75]

I use First Point with watches and jewellery cover up to a certain amount, anywhere in the world with no terms such as "must be in a safe or on the wrist". They told me to get a valuation for my 5 digit sub as it was discontinued. I spoke with my AD whilst getting it valued and if i were ever in a situation where I had a current production watch stolen then they would prioritise a replacement for me.

I didn't have to ask the question about grey prices as I'd only consider going grey for discontinued watches. Only way to find out about the grey vs retail of current production watches is to have a chat with your broker.

Let us know what the answer is!

[Harry-57]

Originally Posted by Xhulio

Does home insurance only cover up to the retail value of the watch ?
Had a quick look on ripe , is the quote they provided I’m assuming for an annual policy ?

I’ve always wondered if you were to buy a watch at grey. You paid 20k but it’s worth 12k retail. Do they cover you how much you paid for it or the retail value ?

Apparently mappin and Webb said you get an instant replacement if it was to be lost or stolen.

My insurance covers MSRP. If you want it insured for grey market price you will likely need an additional policy through another insurer, but do make sure they will pay above MSRP. If I lose multiple valuables simultaneously, the claim is capped at £50K. I have a professionally fitted safe on the premises. Planning for every permutation of every worst case scenario will drive you bonkers, and if it is possible it will cost you a fortune.

My 116613LB is valued by my AD at MSRP because the 12 is nearly identical. I would be happy to get MSRP back because I bought it several years ago from my AD with a discount. This doesn't mean that I could immediately replace it but I would have the option of spending on something else or going on my AD's waiting list.

My 116610LV is a different proposition. My dealer has valued it at grey market value because the 12 series has a different dial which is not currently available. This AD appraisal was agreed with Ripe and I have a policy with them just for the Hulk. It is a 12 month policy.

My Question for Mappin and Webb is; how would they obtain their "instant replacement"? Do they have a safe full of them?

[Xhulio]

Originally Posted by Greenwood_

We use TH March for jewellery and watches. You can choose to insure at MSRP or market (provided you have a valuation).

My policy is probably circa 2% of watch value per annum.

I went ahead and got a policy with TH MARCH

However Just wondering if anyone can shed some light in pros and cons with insuring via home content insurance or Watch only insurance ??

It works out to be hell of a lot cheaper on Home content insurance not to mention I get to insure all contents within my home.

[Surya]

Originally Posted by Xhulio

I went ahead and got a policy with TH MARCH

However Just wondering if anyone can shed some light in pros and cons with insuring via home content insurance or Watch only insurance ??

It works out to be hell of a lot cheaper on Home content insurance not to mention I get to insure all contents within my home.

I'm no help here but any chance of a photo of the watch please? Ideally being worn so I can see the size :)