Watch insurance

[DocHollidayDDS]

I’m long overdue in purchasing some specialized insurance for my watch collection, which is odd since I’ve had a policy covering my firearms for years. After some online research, I’m leaning towards WAX Insurance, but also need to give my primary insurance company a call just to check how much a rider on my homeowner’s policy might cost.

The motivating factor here is having to send my brand new Sinn U2 up to RGM for warranty work, as it’s losing about a minute a day. WatchBuys recommended having insurance before shipping it, which seems like solid advice.

So I’m wondering what the experience of DWC folks is with this subject. Which companies do y’all recommend? Specialty policy vs. homeowner’s rider? Anyone ever had to file a claim?

[BacoNoir]

No claims filed, but we went with the Chubb Insurance you can buy through Hodinkee. We use to have a rider on our USAA policy, but they want updated appraisals every 5 years and that was just too much hassle and another expense. All I have to do with Hodinkee/Chubb is upload photos and declare a value.

[Wario406]

I have Hodinkee/Chubs. I’ve had them for a number of years. Never had to use it, but they come highly recommended, are easy to buy insurance from, and their rates are good.

[3migo]

Also a Hodinkee/Chubb insurance user. The experience is pretty simple and easy, the prices are reasonable, and it's easy to add/drop watches from the policy at any time.

[hoppyjr]

I have a Personal Articles rider on my homeowners policy with State Farm. Works great, no issues.

They require an appraisal, so I use Ryan @ Elite Timepieces.

http://www.elitetimepieces.com

[jswing]

I also have mine insured on my State Farm HO policy. I got a quote from Jewelers Mutual, and both were the same price, so I went with the policy I already had.

[hoppyjr]

I also have mine insured on my State Farm HO policy. I got a quote from Jewelers Mutual, and both were the same price, so I went with the policy I already had.

One of the reasons I prefer this option is that small insurance companies may not be a stable, long-term, as the big boys.

I also think it’s more likely your homeowners / car insurance carrier will stand behind a claim, where a small company may be more likely to deny a claim.

[djh1201]

I have a Personal Articles rider on my homeowners policy with State Farm. Works great, no issues.

They require an appraisal, so I use Ryan @ Elite Timepieces.

http://www.elitetimepieces.com

Interesting, don't remember getting an appraisal with State Farm, guess I need to take another look at my policy.

[hoppyjr]

I have a Personal Articles rider on my homeowners policy with State Farm. Works great, no issues.

They require an appraisal, so I use Ryan @ Elite Timepieces.

http://www.elitetimepieces.com

Interesting, don't remember getting an appraisal with State Farm, guess I need to take another look at my policy.

I’ve seen this with more expensive pieces, but have also used a purchase receipt for new purchases.

When it’s a limited edition piece or something that sells above retail, Ryan @ Elite will make the appraisal fit the market too.

[giosdad]

I have a Personal Articles rider on my homeowners policy with State Farm. Works great, no issues.

They require an appraisal, so I use Ryan @ Elite Timepieces.

http://www.elitetimepieces.com

Interesting, don't remember getting an appraisal with State Farm, guess I need to take another look at my policy.

I’ve seen this with more expensive pieces, but have also used a purchase receipt for new purchases.

When it’s a limited edition piece or something that sells above retail, Ryan @ Elite will make the appraisal fit the market too.

Do you use the market appraisal option for LE's or watches no longer in production?

[giosdad]

What are the Chubb / Hodinkee rates per $1000? I have Jewelers mutual for my more expensive pieces and my wife's jewelry and I cringe every year for the renewal. It may be easier and less expensive to move a few watches over.

[BacoNoir]

What are the Chubb / Hodinkee rates per $1000? I have Jewelers mutual for my more expensive pieces and my wife's jewelry and I cringe every year for the renewal. It may be easier and less expensive to move a few watches over.

I think it varies by location of where the items are stored, but here in western Colorado I'm paying about $0.13 / $1000

[giosdad]

What are the Chubb / Hodinkee rates per $1000? I have Jewelers mutual for my more expensive pieces and my wife's jewelry and I cringe every year for the renewal. It may be easier and less expensive to move a few watches over.

I think it varies by location of where the items are stored, but here in western Colorado I'm paying about $0.13 / $1000

Thanks - My proximity to NYC = f@#ked

[hoppyjr]

I have a Personal Articles rider on my homeowners policy with State Farm. Works great, no issues.

They require an appraisal, so I use Ryan @ Elite Timepieces.

http://www.elitetimepieces.com

Interesting, don't remember getting an appraisal with State Farm, guess I need to take another look at my policy.

I’ve seen this with more expensive pieces, but have also used a purchase receipt for new purchases.

When it’s a limited edition piece or something that sells above retail, Ryan @ Elite will make the appraisal fit the market too.

Do you use the market appraisal option for LE's or watches no longer in production?

Yes.

[BacoNoir]

What are the Chubb / Hodinkee rates per $1000? I have Jewelers mutual for my more expensive pieces and my wife's jewelry and I cringe every year for the renewal. It may be easier and less expensive to move a few watches over.

I think it varies by location of where the items are stored, but here in western Colorado I'm paying about $0.13 / $1000

Thanks - My proximity to NYC = f@#ked

Not necessarily. Our rate didn't change much moving from the Denver suburbs to a much smaller town in western CO.

[GregBe]

I'm embarrassed to say that I've never insured my watch collection. Maybe stupid, lol

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[DocHollidayDDS]

I'm embarrassed to say that I've never insured my watch collection. Maybe stupid, lol

Nothing to be embarrassed about, I'm in the same boat.

Thanks to everyone who chimed in on this topic. I think I'll add Hodinkee's insurance program to my short list for consideration, definitely sounds user friendly.

[giosdad]

What are the Chubb / Hodinkee rates per $1000? I have Jewelers mutual for my more expensive pieces and my wife's jewelry and I cringe every year for the renewal. It may be easier and less expensive to move a few watches over.

I think it varies by location of where the items are stored, but here in western Colorado I'm paying about $0.13 / $1000

Thanks - My proximity to NYC = f@#ked

Not necessarily. Our rate didn't change much moving from the Denver suburbs to a much smaller town in western CO.

Thanks, I will check our their rates.

[jimyritz]

I have a rider through my home insurance plus a separate policy through my insurance agent. I also have 1 watch insured through Jewelers Mutual.


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[Sidheguitarist]

we went with the Chubb Insurance you can buy through Hodinkee.

IMG_4978.jpeg

[Captdave]

I have a rider through my home insurance plus a separate policy through my insurance agent. I also have 1 watch insured through Jewelers Mutual.


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That’s similar to what I have. Rider on homeowners insurance and some of the wife’s jewelry and a watch with jewelers mutual.


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[DocHollidayDDS]

Purchased my Hodinkee policy today. Piece of cake to set up and their rates are quite competitive, worked out to 1.1%

[jimyritz]

I have a rider through my home insurance plus a separate policy through my insurance agent. I also have 1 watch insured through Jewelers Mutual.


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That’s similar to what I have. Rider on homeowners insurance and some of the wife’s jewelry and a watch with jewelers mutual.


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Makes sense


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