Watch Insurance
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Sean
Welcome to my WatchCrunch profile.
New York, NY, USA
Member since
Last active: 1 hr ago
6.50” / 16.51 cm
I recently went through the process of looking into this. Currently my homeowners insurance only covers up to $5000 for a single piece. In their case, they can add an amendment on to my policy for any sum I want ($10k, $20K, etc....) and there will be no limit for the individual piece, up to the total limit I'm covering. But they need an appraisal from a jeweler, which I haven't looked into yet. Additionally I got another homeowners quote from Geico, and they said the couldn't add it on, but recommended a 3rd party just to cover the watches. That 3rd party gave me a quote of $200/year for up to $20,000 of coverage, again based on the fact that I would get a appraisal of value from a jeweler. I also am aware that Hodinkee and others offer watch insurance, some that do NOT require an appraisal, but those looked fairly expensive compared to what I got quotes for. This was from an article on Forbes web site you can find here. I still haven't decided which way to go on this yet. Hope this helps.
Hey, welcome to WC! 🤝
I recently went through the process of looking into this. Currently my homeowners insurance only covers up to $5000 for a single piece. In their case, they can add an amendment on to my policy for any sum I want ($10k, $20K, etc....) and there will be no limit for the individual piece, up to the total limit I'm covering. But they need an appraisal from a jeweler, which I haven't looked into yet. Additionally I got another homeowners quote from Geico, and they said the couldn't add it on, but recommended a 3rd party just to cover the watches. That 3rd party gave me a quote of $200/year for up to $20,000 of coverage, again based on the fact that I would get a appraisal of value from a jeweler. I also am aware that Hodinkee and others offer watch insurance, some that do NOT require an appraisal, but those looked fairly expensive compared to what I got quotes for. This was from an article on Forbes web site you can find here. I still haven't decided which way to go on this yet. Hope this helps.
Thanks for the info, I will take a look.
Hey, welcome to WC! 🤝
❤
Welcome to WC i live in Mexico so i dont know if there is an isurance for watches
https://www.jewelersmutual.com/ this is who I use for my watch and jewelry
I recently went through the process of looking into this. Currently my homeowners insurance only covers up to $5000 for a single piece. In their case, they can add an amendment on to my policy for any sum I want ($10k, $20K, etc....) and there will be no limit for the individual piece, up to the total limit I'm covering. But they need an appraisal from a jeweler, which I haven't looked into yet. Additionally I got another homeowners quote from Geico, and they said the couldn't add it on, but recommended a 3rd party just to cover the watches. That 3rd party gave me a quote of $200/year for up to $20,000 of coverage, again based on the fact that I would get a appraisal of value from a jeweler. I also am aware that Hodinkee and others offer watch insurance, some that do NOT require an appraisal, but those looked fairly expensive compared to what I got quotes for. This was from an article on Forbes web site you can find here. I still haven't decided which way to go on this yet. Hope this helps.
I pay 1% of the value per annum as well.
I recently went through the process of looking into this. Currently my homeowners insurance only covers up to $5000 for a single piece. In their case, they can add an amendment on to my policy for any sum I want ($10k, $20K, etc....) and there will be no limit for the individual piece, up to the total limit I'm covering. But they need an appraisal from a jeweler, which I haven't looked into yet. Additionally I got another homeowners quote from Geico, and they said the couldn't add it on, but recommended a 3rd party just to cover the watches. That 3rd party gave me a quote of $200/year for up to $20,000 of coverage, again based on the fact that I would get a appraisal of value from a jeweler. I also am aware that Hodinkee and others offer watch insurance, some that do NOT require an appraisal, but those looked fairly expensive compared to what I got quotes for. This was from an article on Forbes web site you can find here. I still haven't decided which way to go on this yet. Hope this helps.
I love this bit of advice. It's like Forbes understands we all have an affliction and you can't just have one watch...
3. Rotate Your Watches Regularly
Wearing the same watch every day can lead to excessive wear and tear, which will affect its overall condition and value. To minimize the strain on individual pieces, rotate your watches regularly. This not only preserves their appearance but also helps maintain the intricate movement mechanisms by preventing long periods of inactivity.
Through my homeowner's policy add the floater for the 2 big watches (the Omega, and the wife's Tag). Not too concerned with the other ones as they are covered on the regular jewelry coverage.
I do have insurance via a specialist insurance company, I found them very easy to deal with a few photos of the watches and the paperwork and it was done. It gives me piece of mind as it covers me at home and aboard. I would say it's a fair price for the benefits, and if the worst was to happen I feel more confident in a payout from them over a home insurance company.
I insure the bigger pieces through HODINKEE
Mine is bundled with home, vehicle, etc.
I use Hodinkee.
I wonder if by telling an insurance company you might be telling a hacker or spy ware worm on their system your items like a potential shopping list for professional thieves, my cynical mind works this way . When I am going away from the house for more than a day ( house is alarmed with good neighbours ) I put my watches and guitars into a lock up which has insurance with no need to specify what’s in the cage , just a $ number your willing to pay the insurance for on your items plus 24/7 cameras on the lock up .
This is a recent Forbes article that will give you a glimpse of your options.
https://fortune.com/recommends/insurance/best-watch-insurance-companies/