Do you have an insurance policy for your watch collection?

And a kick arse safe👍

I had 3 watches of my collection insured....but I cancelled the insurance after a year...I find the risk premium so expensive that it is not worth it considered the risk of burglary or a fire in the house........perhaps in other countries it is less expensive than in Germany, I don´t know

Yah the safe is key!

Having insurance is always great when you don’t need it, if you do you’re lucky if they pay for everything within an agreeable time.

Yes, but only my poshest watches (sm300 & AT)

Here in the states, complete (international) coverage from theft, fire, flood and accidental damage is 2.8% of the total value of the watch per year.

Not sure if that’s similar to Germany…

That makes sense since they’re worth a pretty penny!

In a general sense, I have a large "jewellery" and sports gear insurance amount. Between my firearms and watches it's a few dollars.

Your insurance policy for watches and firearms only cost a few dollars?

There are not much insurance companies over here that offer insurance exclusive for watches (and other valuable objects like jewelry, art objects, high value vintage curiosities, etc...).....you can count them on 1 hand.

I paid 3,45% of the insured value.....I just found it too expensive.

I was engaging in a very Canadian case of understatement. It essentially tripled my insurance.

I treat mine more like tools, I keep care of them of course, but ultimately, they're for telling time and for use.

“Hello, insurance company? Yes I’d like to insure my watches worth (looks at watch case) about $800 total.”

No insurance needed for peasants like me! Lol

My collection, if it’s IN the safe is insured. Many of my higher end pieces, unfortunately remain there for the majority of their time but at least they are insured there. Out and about, my watches up till the value of around $30K are insured in a limited way through my credit card. I’m generally of the opinion that unless the losses can be catastrophic in some way to my life, I am not going to spend extra money insuring a luxury item.

I keep my primary collection in a safety deposit box. Best possible piece of mind, and cheaper than insurance. I only take one out at a time, so it does limit availability. But my budget sub collection is always here if I want a specific look and that works fine for me.

My modest collection isn't really worth anything, so I doubt there's an insurance company that would insure them! LOL! 😉

I have given some thought to getting insurance for my watches. But is it worth the expense if they are store away in a safe place?

Honestly, It all depends on multiple factors. Like your risk tolerance, crime rate in your area, loss or damage due to unforeseen circumstances, etc.

Sometimes I think if "the juice is worth the squeeze" and for every collector answering that question is unique. Just like watch collecting.