Watch insurance
Question regarding watch insurance. If i have a watch that i bought new at MSRP and is now a discontinued model, and secondary market value is below MSRP, do you insure at the MSRP price or the current lower secondary market price?
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Welcome to my WatchCrunch profile.
Bay area
Member since
Last active: 14 min ago
5.91” / 15.00 cm
Full price paid if you have an appraisal from the AD when you purchased it. If not, MSRP.
Is this a rider on your homeowner or renters insurance? I would ask them what proof if needed in the event of a claim.
Current market value
Good point @John_50 My response was based on homeowners insurance, which mine requires an appraisal or proof of purchase price.
Good point @John_50 My response was based on homeowners insurance, which mine requires an appraisal or proof of purchase price.
In that case, original receipt. If the watch has appreciated over MSRP (i.e. Rolex GMT) then appraisal.
Most homeowners insurance policies cover watches but subject to your normal deductible. If deductible is too high you can get watches “scheduled “ and specify value. These policies are normally “replacement cost” which is cost to replace with a new one (MSRP).
If it's though something like Hodinkee or Wax, I do replacement value if it's above retail on the secondary market and/or discontinued and retail value if it's below retail on secondary and still available at the AD. I could save a bit in the latter situation, but would want to replace it with a brand new version in that case.
This would be a question MUCH better asked of your insurer, rather than a group of people scattered around the world, with different insurance laws, and different company policies providing it.