Do you protect yourself?
I realised that watches is worth some money. The sums add up over time and I felt forced take a grip of how I protect my darlings and how I am covered. I don’t flash my watches and I don’t have a lifestyle that draw attention that will make me a target. But a random burglar can make a visit and accidents can happen and a fire can start.
Of course my home insurance gives me a financial protection. However, it has a limit and that limit includes everything in the house. There is also a cap per watch. Over that cap I have to sign a special watch insurance to be fully covered. The premium for these special insurancies quite quickly adds up and will hit me every year. But for a very limited number I have taken this special insurance. Neither of these will of course, with no other activities, prevent me from losing my watches but gives me a financial pillow.
So what do you do to prevent theft or avoid damage from a fire. A bank safe you say. My problem is that most banks has removed their boxes and the very few banks still have them don’t allow new contracts. The remaining solution was to invest in a safe. No guarantees but it will keep a random burglar away from my watches, an experienced burglar an obstacle not able to overcome without a lot of noice. It gives a protection in case of fire, save me some premiums and a piece of mind when leaving the home for a longer period.
Have you thought your protection through?
I collect new as well as vintage. I have a weak spot for 50s and 60s Omegas. Besides from those I consider myself allround.
I left this outside. No takers.
My watches are protected by their lack of value.
I got two kids. So I'm obviously a bit hit ot miss with protection 🤪 But seriously, I don't have anything tooo valueble and if I did it would be one fancy piece that lived on my wrist. Insurance cover some of the loss if shit where to indeed happen. I recon I would need way more and/or more expensive watches if I was going to justify a safe or special insurance.
I left this outside. No takers.
My watches are protected by their lack of value.
Haha! But it is also valid for heirlooms and sentimental values.
I think a safe is the best bet. A decent one with fire and flood protection can go a long way for safeguarding valuables.
I left this outside. No takers.
My watches are protected by their lack of value.
Classic look on that one IMO 😊
I think a safe is the best bet. A decent one with fire and flood protection can go a long way for safeguarding valuables.
That’s the plan. Hope I never has to test it.
I've found home insurance isn't sufficient, so I have my pricier ones insured on their own for market value.
It is a good topic with many facets. Insurance with replacement value is a must once you hit a certain threshold. Add in good neighbors, solid security measures (alarm, cameras, shatter resistance glass on ground levels), and a combination of safe and well hidden spaces. To me, those are the best protection measures for when I am not home.
A good safe is for peace of mind. To me, the best safe value to security-wise is Stealth safes. Bosnian Bill's seal of approval is good enough for me. I do not want any safe that has a key, exterior hinges, etc.
Many robberies are those of opportunity, but more likely a result of family/friends. A robbery of opportunity, they are looking to get in and out. They will not mess with trying to get through a safe. Now, does a safe make for an easy target? Yep. But if hidden and bolted down, short of an organized and planned attack, it will take hours to get through. I would hope the noise etc would alert neighbors.
The more likely issue is the family and friends aspect. That represents far more theft/loss than random robberies, which are down just about everywhere in the US. Not to mention, many family/friend issues are not reported. Far more emphasis should be placed there, but obviously, it should start with locked doors. :-)
Buying a safe.
I've found home insurance isn't sufficient, so I have my pricier ones insured on their own for market value.
Same here but just for two at the moment.
I live in places (quiet neighborhoods in Canada and Japan) where the crime of a home break is nearly non existent, and watch theft off a wrist in public is even more non existent. My perception of Sweden is that it's the same? Isn't it?
Like @Aurelian, none of mine would destroy me financially if lost (yes, it's all relative!!), so I'm curious how I'd feel once if get a more 'grail priced for me' watch among my group. Right now my watches sit on a stand on my desk in the living room, for me to gaze lovingly and wink at from time to time.🤪
I have Chubb special insurance on every one of my watches valued over $1,000 (only two to this point) and will continue to do so. Other than that, I do nothing but wear them. If they get stolen, damaged or whatever, I'm covered.
If anyone is curious, my $5,700 Omega Aqua Terra and my $1,950 Oris Big Crown Pointer Date cost me about $150 per year to insure and I am covered for loss or damage up to the retail price of the watch. Not sure how the insurance works if the secondary market price exceeds the retail price. I don't have any of those watches now and probably not in the foreseeable future either.
It is a good topic with many facets. Insurance with replacement value is a must once you hit a certain threshold. Add in good neighbors, solid security measures (alarm, cameras, shatter resistance glass on ground levels), and a combination of safe and well hidden spaces. To me, those are the best protection measures for when I am not home.
A good safe is for peace of mind. To me, the best safe value to security-wise is Stealth safes. Bosnian Bill's seal of approval is good enough for me. I do not want any safe that has a key, exterior hinges, etc.
Many robberies are those of opportunity, but more likely a result of family/friends. A robbery of opportunity, they are looking to get in and out. They will not mess with trying to get through a safe. Now, does a safe make for an easy target? Yep. But if hidden and bolted down, short of an organized and planned attack, it will take hours to get through. I would hope the noise etc would alert neighbors.
The more likely issue is the family and friends aspect. That represents far more theft/loss than random robberies, which are down just about everywhere in the US. Not to mention, many family/friend issues are not reported. Far more emphasis should be placed there, but obviously, it should start with locked doors. :-)
Buying a safe.
I live in a terraced house so the plan is the noice necessary will leave the safe alone. Thank you for your thoughts👍
I’m looking for a good safe myself as it happens. It’s hard to tell based on internet images and a bunch of specs I don’t understand 🤔🧐
I live in places (quiet neighborhoods in Canada and Japan) where the crime of a home break is nearly non existent, and watch theft off a wrist in public is even more non existent. My perception of Sweden is that it's the same? Isn't it?
Like @Aurelian, none of mine would destroy me financially if lost (yes, it's all relative!!), so I'm curious how I'd feel once if get a more 'grail priced for me' watch among my group. Right now my watches sit on a stand on my desk in the living room, for me to gaze lovingly and wink at from time to time.🤪
No it’s not that common. But it could happen and a fire can happen. The cost of the safe have quite a short pay off if I can avoid extra premiums for some watches.
I have Chubb special insurance on every one of my watches valued over $1,000 (only two to this point) and will continue to do so. Other than that, I do nothing but wear them. If they get stolen, damaged or whatever, I'm covered.
If anyone is curious, my $5,700 Omega Aqua Terra and my $1,950 Oris Big Crown Pointer Date cost me about $150 per year to insure and I am covered for loss or damage up to the retail price of the watch. Not sure how the insurance works if the secondary market price exceeds the retail price. I don't have any of those watches now and probably not in the foreseeable future either.
If the Market value exceeds MSRP I assume you have to have them valuated (at AD or other) to market value. Then your premium will be based on that market value.
Unlike someone who thinks their top drawer, among the socks, is a great place to hide things, I have a little more imagination than that, mate. Hahaha :) It would take A LOT of searching to find my watches.
Here is my hiding
A distrubuted storage plan along with insurance, and safe practices works the best for me.
A distrubuted storage plan along with insurance, and safe practices works the best for me.
Distributed? Does that mean different adresses?
Distributed? Does that mean different adresses?
Yes, storing portions of your watches in different (Secure) locations can be part of a successful stratagy.
Has anyone considered just, like, hiding their watches? Sounds overly simplistic, but much like a hidden safe, you can't steal what you can't see. Obviously, fire is still an issue, but somebody's going to have to spend a lot of time searching my house to find my watches. I feel like it's pretty easy to hide something well enough that it would take a professional intelligence agent to find it in any reasonable amount of time. Hell, unzip a sofa or chair cushion and put your watches in there. I'm fairly certain a thief isn't going to be searching for spare change in the sofa and find your watches. Top shelf in the kitchen? Behind some books on a shelf? I don't think any of these are on a thief's list of most likely hiding places.
This is the best plan...A safe says: 'take me along' and if there are 2 or more intruders and the safe is not massive, it is all gone....I know for sure no thief would ever find a single watch of value in my house...I even spread 'decoys' around to lead them off scent 😁
As far as insuring, a lot of people here are underestimating their own potential stupidity. For instance, I am a seasoned work traveler. I was in a large, but not considered dangerous, European city earlier this month that I had visited over 20 times during the last 10 years.
In my jetlagged haze, I managed to leave a sling bag I was carrying on the train. It had three things of value, my Nintendo Switch, a watch and most unfortunately, my passport. I've been traveling for work for nearly 20 years, never done anything like this before. Now thankfully, this wasn't one of my most expensive watches, but it wasn't cheap either (though something I could afford to lose). It was also quite new, which hurts the most as I barely got to know it. But because of it's relative value compared to other pieces and the fact that I didn't think it was an attractive theft candidate, I did not bother to insure it. Never did it cross my mind that I was likely to be the "culprit".
I've found home insurance isn't sufficient, so I have my pricier ones insured on their own for market value.
Which company did you use?
I only ever keep a couple in the house. The bulk are always in a safe deposit box. Sad, but it's the world we live in.
Which company did you use?
Jewelers Mutual
As far as insuring, a lot of people here are underestimating their own potential stupidity. For instance, I am a seasoned work traveler. I was in a large, but not considered dangerous, European city earlier this month that I had visited over 20 times during the last 10 years.
In my jetlagged haze, I managed to leave a sling bag I was carrying on the train. It had three things of value, my Nintendo Switch, a watch and most unfortunately, my passport. I've been traveling for work for nearly 20 years, never done anything like this before. Now thankfully, this wasn't one of my most expensive watches, but it wasn't cheap either (though something I could afford to lose). It was also quite new, which hurts the most as I barely got to know it. But because of it's relative value compared to other pieces and the fact that I didn't think it was an attractive theft candidate, I did not bother to insure it. Never did it cross my mind that I was likely to be the "culprit".
My experience is simular. You underestimate the combined value of your assets. You don’t think they are worth that much. But of you start adding it quitebquickly come up to figures that is close to your insurance cap.
I only ever keep a couple in the house. The bulk are always in a safe deposit box. Sad, but it's the world we live in.
But isn’t it sad that you can’t play with them on a daily basis? That is my drawback from finding a bank safe.
But isn’t it sad that you can’t play with them on a daily basis? That is my drawback from finding a bank safe.
It is sad yes, 100%!
but unfortunately there are copious amounts of unscrupulous dudes around 😩
Theft is really getting out of hand, just a few weeks ago someone stole my fathers daytona, fortunately he is ok, but gosh! I found a platform that was made to report stolen watches, it’s called JoinTrack.org I hope this helps a bit.
Theft is really getting out of hand, just a few weeks ago someone stole my fathers daytona, fortunately he is ok, but gosh! I found a platform that was made to report stolen watches, it’s called JoinTrack.org I hope this helps a bit.
Sorry to hear about your fathers watch. What a bummer!
Sorry to hear about your fathers watch. What a bummer!
Thank you! Fortunately it was just the watch but still. Take care!