Watch security - my collection was stolen

Being in insurance myself, not Sure if there is enough value there to even file a claim under your personal property coverage as it might not even be enough to hit your deductible. In regards to if it’s worth insuring watches, I complete recommend it if they are of value, usually a $1,000 watch and up it’s worth scheduling on your policy.  

So sorry to see this, it is a fear many of us have. For most folks, home insurance is usually sufficient, but you can get watch insurance through Chubb (provider for most watch plans including Hodinkee), but your home insurance likely has a rider you can add. 

Safes are a heated topic as you are advertising that you have something to steal, but if done right are obviously very effective. I would not put anything in a safe that can be carried away (IE any safe you hide under bed, in closet etc). Never buy a safe or brand that one can pick up at Walmart, Target, Harbor Freight, etc, they are all cheaply made and can picked or destroyed in seconds. Ideally you have something that is hidden, either in wall or floor. If you need something with room, get something of substantial weight and bolted down. Stealth floor safes (smaller one here) are very well made have bolts on all sides of the door and do not have a key to exploit. 

I say all this knowing with enough time no safe is truly safe and a well hidden area, nook, etc will be more effective at hiding valuables. 

Really sorry to hear that happened

Terrible to hear, very upsetting.

When I polled people on ’watch box; display or hide?’ the overwhelming response was to use a safe for both the watches- and the boxes they came in!  Apparently it’s often required for insurance 

It shocked me, but perhaps shouldn’t have.   I‘m lucky to live in a quiet family neighborhood. In a townhouse with best friend neighbours - who have some friendly but barky dogs.   Vancouver Canada has issues, but house break ins and personal safety are not among them.

For me, part of enjoying my collection is seeing it everyday and deciding if I’d like to switch things up.  It takes only a second or 2.  The boxes are on display as well,  just for fun (they lived buried in the garage previously) 

My relaxed MO is very much dictated by my surroundings. if that changed there’d be a shift in practice for sure.

If break ins were more of a thing - I think I’d still shoot for something easier to access than a safe, someplace hard to find if you didn’t know where to look.  

Sorry to hear about the loss. Great info provided. A jewelry rider or floater is a great policy. State Farm has a policy that covers your watches anywhere in the world with no Exclusions. A safe is great as @AllTheWatches recommended. The safe should be anchored to the floor or wall. I have seen safes over 500 lbs that were not anchored be towed through walls. The their wrapped a chain around the safe and just yanked it out.  A floor safe is great BUT it usually has limited space & access can be cumbersome. You may be tempted to leave valuables outside the safe. A minimum 30 minute drill & fire rating are a good starting point. Most home theft is a hit and run crime. If it takes too long to break a safe the theif will move on. 

Thanks everyone for the responses. I will be looking into the Stealth Safe.

contents insurance/household insurance should cover that.

Oh man that sucks! Sorry to hear…and like what the folks already said above I guess Nice sturdy safe and better yet a better alarm/security system for your house. Be safe 

+1...you have to get in first

Sorry that happened to you

So sorry to hear! I echo everyone on the importance of seeing if your insurance covers your watch. I use the Hodinkee insurance for my Speedmaster. It's like 65 dollars per year and covers the entire value of the watch.

I’m glad Hodinkee is pushing this. Not nearly enough people insure there watches, let’s alone for the correct amount. 
 

It can always be added to a home/renters/condo insurance policy as well for the same coverage and for less. Always insure the watch for the replacement cost it would be to get a new one, not necessarily the purchase price 👍🏼

When I travel I hide the more expensive ones in......

Never mind

Trained guard dogs are always a deterrent for thiefs. That's my way. They provide security and company for the family.

Thanks @JackieMoon_LMS! I think the policy does account for appreciation value. 

What should we be asking our insurance agent to add and what paperwork (if any) is needed? 

I‘be talked to Allstate before and they said we didn’t need anything (which I think is wrong). 

Sorry to hear that my friend. I agree with the hidden nook or other creative hiding spot behind a mirror or picture. Plenty of people doing it to hide there guns, why not a watch!!

I do a video inventory of my house every year for insurance. After a break in you can see what's missing. After a fire you have evidence of all your stuff. I store it with all my family photos at my kids house. Balance the loss against the insurance deductible and the extra premium they add on after. On the upside you can replace those easily with time. 

Truly awful; so sorry to hear you suffered this. I don’t own any luxury pieces but I’d still be absolutely gutted to lose my collection. I’m currently thinking about improving security myself and whether to get a safe or not etc. All the Best 🤝

I have 11 watches, of which 2 would be considered "luxury" or thereabouts. Those are the two I insure through Hodinkee's Chubb insurance offering. The Oris Big Crown Pointer Date (~$2K) and the Omega Seamaster Aqua Terra (~5.7K) only cost me about $140 per year to insure. It's well worth it for the piece of mind. The insurance covers you for replacement value, not current value (if it has depreciated), so if you have a pre-owned piece that trades at $4K but to replace it would cost you $5,700, then you get the replacement value, which is nice. I think for Rolex, "replacement value" would constitute secondary prices, not MSRP, but not sure how that works exactly as I don't own any watches that trade above MSRP.

Sorry to hear this happened to you, thats so upsetting even if you dont have a terribly expensive collection.

I was just discussing the same topic of watch saftey but in the context of travelling. Also mentioned some people have differing methods like scattering their collection in hidden places, leaving a "decoy" watch box with less precious pieces, fire boxes, safes etc.

In the end insurance is good because it covers multiple situations, not just theft. At bare minimum I would recommend a fire proof box you can keep your most precious items in and putting it somewhere inconspicuous. An expensive safe is probably only worth it for expensive or highly sentimental things. But also think of it being fire and flood resistant.

Most sorry.  Another, albeit minor, example of how this world is nearing the bottom of the toilet bowl.  

Sorry to hear it mate. Get a safe is my advice as single item watch insurance is so expensive (in the UK at least). 

so sorry to hear

Very sorry to hear this. We use NFU home and contents insurance, anything over £1000 needs to be declared individually.

I wish to know more as well, as I haven't seen anything being discussed in where I am from (Hong Kong) about protection of watches

Sorry to hear that. Hope you recover. For valuable watches, I insure with Jewelers Mutual. For security at home, we have a safe that is bolted to the floor. Don’t recall the brand. It is enough to keep most safe crackers at bay.

Oh no I am so sorry to hear this man.

Thats very sad and heart breaking to hear that one of fellow WC had there collection stolen so sorry to hear that man! Hope that you filed a police report and just maybe somebody who stole these watches might end up taking it in a near pawn shop. Lets hope and pray something will turn up.

Sorry to hear that.  Hopefully contents insurance will cover it.  Think I only need to declare items over €1,000 as extra on our contents insurance, don't have any watches worth near that.  

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.