Watch Insurance
I'm considering insuring my collection ( or at least specific pieces). Has anyone insured their collection? If yes, did you insure your collectio under a homeowner policy, or purchase standalone coverage from a specialized insurer such as Hodinkee? Did you cover your entire collection, or specific pieces with the greatest economic or sentimental value?
Thanks
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I insure mine through Hodinkee also. My wife's two Rolex watches, and five of mine (Rolex, Tudor, GS, and two Omegas). I used the Chrono24 value, so they are covered for the amount it would take to replace them, not what I paid.
The process was super easy. They quoted me an amount, and I pay it each year. No quibbling over valuation, no documentation needed, no need to take them somewhere to be inspected. I just uploaded a photo of each and entered some information.
Way easier than dealing with adding to the regular homeowners insurance.
And the price seems reasonable for peace of mind.
So I can recommend it based on my experience so far. However I can't vouch for the most important part... How they are to deal with when there's a claim. I hope never to find out.
All my more expensive ones are on our home insurance. I don't have anything too over the top price wise to warrant a specific policy. If I did I would, but as my wife works at the insurance company it's easy too keep bit up to date.
She does have customer's who have bespoke policy's for watch's and jewelry , she is with the NFU insurance company.
I have them insured under a Personal Articles Policy with State Farm. You are required to get appraisal on any piece over rl12.5K US
I use Chubb through Hodinkee to cover two of my watches. It might be psychological but now I wear/enjoy these watches more knowing I'm covered.
Thanks everyone for all the advice. Went with Hodinkee- simple fast, reasonable cost. Hopefully I never have to use it.