Hodinkee Watch Insurance

[logan2z]

Hodinkee has partnered with Chubb to provide insurance policies for watch collectors. Apparently their value-add is a streamlined process that doesn't require appraisals and lots of other paperwork to get a watch insured.

More here:

https://www.hodinkee.com/articles/hodin ... nce-launch

[dnslater]

Interesting. Definitely some value with making it an integrated process with the purchase. I bought my 16600 through Crown & Caliber and they have a similar relationship with Jewelers Mutual, so I was able to set up a Jeweler's Mutual account and policy with 5 additional minutes of mouse clicking after purchasing the watch from C&C. People are less likely to get the insurance if there are hoops to jump through.

When buying new watches in general, do you need to get an appraisal, or will a receipt from an Authorized Distributor suffice? How much of a hassle is it through someone like JM? I understand that used watches would require an appraisal.

[logan2z]

When buying new watches in general, do you need to get an appraisal, or will a receipt from an Authorized Distributor suffice? How much of a hassle is it through someone like JM? I understand that used watches would require an appraisal.

When I added new watches to my homeowners policy with Allstate, I only needed to provide a copy of the original purchase receipt, not an appraisal.

[BlueSky]

I have assumed that you guys with serious collections would have a rider/endorsement on your homeowners. That being said, as often as some of you buy and sell, I can see that being problematic.

[BlueSky]

Sorry Andrew...we must have been typing at the same time.

[dnslater]

I have assumed that you guys with serious collections would have a rider/endorsement on your homeowners. That being said, as often as some of you buy and sell, I can see that being problematic.

I recommend Jeweler's Mutual. Fairly easy to add/remove watches if you have a receipt. People typically say that claims are easier to process than with home owners also, but I have never had a claim.

[gwells]

how does "receipt" work with purchasing used watches from private parties?

[jimyritz]

I have assumed that you guys with serious collections would have a rider/endorsement on your homeowners. That being said, as often as some of you buy and sell, I can see that being problematic.

===========
Yes— I use both home Ins policy and Jewelers Insurance.

[jimyritz]

how does "receipt" work with purchasing used watches from private parties?

My guess would be if you want the preowned piece to be insured you would need an actual appraisal from a
licensed appraiser.

Mike

[logan2z]

how does "receipt" work with purchasing used watches from private parties?

My guess would be if you want the preowned piece to be insured you would need an actual appraisal from a
licensed appraiser.

Mike

I think that's right.

[giosdad]

Jewelers Mutual has accepted a private party invoice created in word for watches I have bought. Many here have worked with me to create an invoice to insure watches.

[gwells]

i'd hate to have to go get appraisals on every watch i didn't buy new... but i wouldn't have private party invoices, either at this point.

[Chocodove]

JM has gotten lax over the years. At first several years ago it had to be an official appraisal, but my last watch from earlier this year they accepted a sorta receipt from Takuya.

[nweash]

Back in 2016 I had elite timepieces appraise my Blancpain. I think it was 40 bucks and all I had to do was send them pictures. FWIW

[pbj204]

Back in 2016 I had elite timepieces appraise my Blancpain. I think it was 40 bucks and all I had to do was send them pictures. FWIW

So you can get a fake appraised and then "lose" it. Or just find some pics online?

Seems too easy. A quick way to make 25k.

[logan2z]

Back in 2016 I had elite timepieces appraise my Blancpain. I think it was 40 bucks and all I had to do was send them pictures. FWIW

So you can get a fake appraised and then "lose" it. Or just find some pics online?

Seems too easy. A quick way to make 25k.

I think they call that insurance fraud

[SoCal C4S]

I get online appraisals done through Elite, and use that to add my watches to a dedicated Jewelry policy through State Farm. Had a watch “go missing” years ago after a sale, when I shipped it INTL. Called State Farm, and they sent me a check for the insured amount, and removed the piece from my policy. No deductible, and worth the small effort to add any pieces over $1k to the policy.

[gwells]

good info. thanks, guys

[jimyritz]

i'd hate to have to go get appraisals on every watch i didn't buy new... but i wouldn't have private party invoices, either at this point.

I went to a high end jeweler who sold watches and they set up a time for an appraiser to come in and look at all my watches. I was able to use their private room and a week later I had 3 appraisals. Cost me $120...

Jewelers Mutual accepted a receipt for my Sinn. Watchbuys provided a descriptive receipt and that was all I needed.