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dchang81 · 11 July 2019, 01:53 PM

What are you guys doing for insuring your watches? JM seems pretty pricey, but if they are easy to work with i guess it would be worth it. But when it's several grand a year just to insure two pateks, that would add up very quickly.

ct.matt · 11 July 2019, 01:56 PM

Personal articles standalone through Statefarm. Global coverage for loss, theft, and damage. Annual premium is half of JM in my experience

Murcielagoboy2 · 11 July 2019, 07:37 PM

Zurich Private Clients Contents Policy.

It's a great policy. My (and my wifes) watches are covered globally, on my wrist, off my wrist, in or out of our safe and even if I give it them for a friend to wear. There are almost zero warranties. They're even insured at another house.

A971 · 11 July 2019, 09:23 PM

I go raw.

beshannon · 11 July 2019, 10:08 PM

I split between my homeowners policy and Jewelry Mutual

Token74 · 11 July 2019, 10:28 PM

Home insurance, I pay about 1% of the value.

Sent from my iPhone using Tapatalk

maecenas · 11 July 2019, 11:10 PM

I use Chubb insurance, which has the most comprehensive “valuable articles” coverage I’ve seen (more than a simple rider, for example, it accounts for possible value appreciation). Currently I’m paying just under 1%. I like that their car insurance is agreed value as well.

s.m.b. · 11 July 2019, 11:22 PM

Quote:

Originally Posted by ct.matt

Personal articles standalone through Statefarm. Global coverage for loss, theft, and damage. Annual premium is half of JM in my experience

321Forever · 11 July 2019, 11:50 PM

Quote:

Originally Posted by s.m.b.

Me, too. You just need to be vigilant with their automatic value assessments increasing annually and sometimes by too much.

brandrea · 11 July 2019, 11:51 PM

I don’t insure

c41006 · 11 July 2019, 11:53 PM

Jewelers Mutual for me

V25V · 11 July 2019, 11:56 PM

Homeowners, Liberty Mutual.

CamSLC · 11 July 2019, 11:57 PM

Personal article stand alone through American Family. Covered all over, for less than 1% of replacement.

d11n · 12 July 2019, 12:07 AM

home policy with riders

mbalmz · 12 July 2019, 12:29 AM

personal articles policy through cincinnati insurance.

raclaims · 12 July 2019, 01:04 AM

They are all absurdly expensive...I just add to my homeowners like most people but the pricing is ridiculous

MayerFineJewlery · 12 July 2019, 01:14 AM

Never insured any of my personal watches.

CoveWatch · 12 July 2019, 02:46 AM

Quote:

Originally Posted by ct.matt

Personal articles standalone through Statefarm. Global coverage for loss, theft, and damage. Annual premium is half of JM in my experience

same

soundserious · 12 July 2019, 02:48 AM

Karambit.

dchang81 · 12 July 2019, 07:52 AM

Wow lots of replies, thanks. Hah was hoping for a more universal response. jM estimate was over 2% which is not worth it to me.

Chiboy · 12 July 2019, 08:34 AM

I stopped insuring my DJ 20 years ago when I realized I could afford the loss. Nothing ever happened. I did insure my platinum Daytona when I got it. It's about 0.8% of value. TBH, if I didn't wear it every day, I probably wouldn't insure it. I can't see spending that much on ten nice watches that get worn once every two weeks a piece. But that's me.

I did used to be responsible for corporate risk management, among other things, so know a bit about insurance. The main takeaway for me: insurance costs more than it's worth, so only buy it if you really need it.

Everyone has a different risk tolerance and situation. Only you can determine yours.

Bearxj86 · 12 July 2019, 08:58 AM

So Statefarm vs American at around 1% of replacement value. Anyone lower? I need at least 25 bps less guys. Anyone insured for 0.75% or less?

Horological2019 · 12 July 2019, 09:30 AM

Quote:

Originally Posted by bearxj86

So Statefarm vs American at around 1% of replacement value. Anyone lower? I need at least 25 bps less guys. Anyone insured for 0.75% or less?

I am at 88 bps per annum with Amica

dchang81 · 12 July 2019, 10:20 AM

Quote:

Originally Posted by Chiboy

I stopped insuring my DJ 20 years ago when I realized I could afford the loss. Nothing ever happened. I did insure my platinum Daytona when I got it. It's about 0.8% of value. TBH, if I didn't wear it every day, I probably wouldn't insure it. I can't see spending that much on ten nice watches that get worn once every two weeks a piece. But that's me.

I did used to be responsible for corporate risk management, among other things, so know a bit about insurance. The main takeaway for me: insurance costs more than it's worth, so only buy it if you really need it.

Everyone has a different risk tolerance and situation. Only you can determine yours.

I agree but my wife' wearing the 5711 almost daily and me the 5131 a few days a week. Before no one would bat an eye but now random people recognize them.

ts3 · 12 July 2019, 09:45 PM

Quote:

Originally Posted by Chiboy

The main takeaway for me: insurance costs more than it's worth, so only buy it if you really need it.

Everyone has a different risk tolerance and situation. Only you can determine yours.

This.

As long as a watch (or a car etc) isn't worth more than 20-30k I am comfortable going w/o comprehensive insurance. It would hurt if sth happened but not change my life. The watches are also covered by my regular home insurance to some extent including theft from my home and getting mugged but there is some valuation gap and other mishaps remain uncovered. I am not using any pieces valued above my comfort threshold a lot these days but I'd likely take out comprehensive insurance if I was.

Fat_ninja · 12 July 2019, 09:55 PM

I self insure everything in my life =. Something happens = SOL

Chiboy · 12 July 2019, 10:39 PM

Quote:

Originally Posted by Fat_ninja

I self insure everything in my life =. Something happens = SOL

Interesting! Most TRFers in these discussions seem to insure everything! I usually don't bother responding with my opinion.

nycwatch23 · 13 July 2019, 03:04 AM

I pay about 1.8% and live in NYC with Chubb. Am I paying way too much? First post but have been creeping this site forever!

bweig · 3 August 2019, 03:07 AM

This was all very helpful. I can’t see paying 2% but for something you wear every day 88bps-1% seems like a tolerable response to the risk since statistically something will happen eventually with that much use.

Sent from my iPhone using Tapatalk

singe89 · 3 August 2019, 03:22 AM

Just paid the annual premium and its 1.37% through Nationwide Private Client.

Personal property was less with Statefarm but the total bundled homeowners, auto, etc. was less with Nationwide.

Beyond the initial purchase price, this hobby gets expensive when you factor in service cost and insurance premiums on a monthly basis.

11 July 2019, 01:53 PM	#1
dchang81 2024 Pledge Member Join Date: Aug 2014 Location: Cleveland Posts: 2,064	what do you guys do for watch insurance? What are you guys doing for insuring your watches? JM seems pretty pricey, but if they are easy to work with i guess it would be worth it. But when it's several grand a year just to insure two pateks, that would add up very quickly.

11 July 2019, 10:08 PM	#5
beshannon "TRF" Member Join Date: Jun 2009 Real Name: Brian Location: Northern Virginia Watch: One of Not Many Posts: 17,892	I split between my homeowners policy and Jewelry Mutual __________________ Vacheron Constantin Traditionnelle Complete Calendar, Glashutte PanoInverse, Glashutte SeaQ Panorama Date, Omega Aqua Terra 150, Omega CK 859, Omega Speedmaster 3861 Moonwatch, Glashutte Senator Exellence, Breitling Superocean Steelfish, JLC Atmos Transparent

11 July 2019, 10:28 PM	#6
Token74 "TRF" Member Join Date: Dec 2012 Real Name: Vince Location: England Watch: Too many! Posts: 5,712	Home insurance, I pay about 1% of the value. Sent from my iPhone using Tapatalk __________________ Time is limited, make every second count. Patek Philippe Nautilus 5990 - AP Royal Oak 15300 - AP Royal Oak 15450 Blue - AP Royal Oak 15450 Silver - AP Royal Oak Offshore 26480 - Royal Oak Offshore 15710 - Rolex Sea Dweller 116600 - Rolex Daytona 116519 - Rolex GMT 126710 BLRO - Omega Speedmaster Reduced - JLC Reverso GMT Moonphase - TAG Microtimer - Dent Pocket Watch - JLC Atmos Phases de lune

12 July 2019, 12:29 AM	#15
mbalmz 2024 ROLEX DATEJUST41 Pledge Member Join Date: Jan 2017 Real Name: marc Location: nyc Posts: 1,357	personal articles policy through cincinnati insurance. __________________ _______________ ___________ _______ ___ instagram: @brooklynwatchguy

12 July 2019, 02:48 AM	#19
soundserious "TRF" Member Join Date: Aug 2011 Location: usofmfa Posts: 3,157	Karambit. __________________ Instagram: soundsoserious

11 July 2019, 01:56 PM	#2
ct.matt "TRF" Member Join Date: Oct 2012 Real Name: Matt Location: California Posts: 553	Personal articles standalone through Statefarm. Global coverage for loss, theft, and damage. Annual premium is half of JM in my experience

11 July 2019, 07:37 PM	#3
Murcielagoboy2 "TRF" Member Join Date: Mar 2017 Location: London Posts: 431	Zurich Private Clients Contents Policy. It's a great policy. My (and my wifes) watches are covered globally, on my wrist, off my wrist, in or out of our safe and even if I give it them for a friend to wear. There are almost zero warranties. They're even insured at another house.

11 July 2019, 09:23 PM	#4
A971 "TRF" Member Join Date: Jun 2018 Location: Japan Posts: 252	I go raw.

11 July 2019, 11:10 PM	#7
maecenas "TRF" Member Join Date: Jun 2016 Location: California Posts: 96	I use Chubb insurance, which has the most comprehensive “valuable articles” coverage I’ve seen (more than a simple rider, for example, it accounts for possible value appreciation). Currently I’m paying just under 1%. I like that their car insurance is agreed value as well.

11 July 2019, 11:51 PM	#10
brandrea 2024 Pledge Member Join Date: Jul 2013 Real Name: Brian (TBone) Location: canada Watch: es make me smile Posts: 74,381	I don’t insure

11 July 2019, 11:53 PM	#11
c41006 "TRF" Member Join Date: Jan 2015 Real Name: Joshua Location: Atlanta Watch: Pelagos Posts: 7,925	Jewelers Mutual for me

11 July 2019, 11:56 PM	#12
V25V 2024 Pledge Member Join Date: Feb 2017 Location: USA Posts: 4,347	Homeowners, Liberty Mutual.

11 July 2019, 11:57 PM	#13
CamSLC "TRF" Member Join Date: Jun 2016 Location: USA Watch: Rolex & Patek Posts: 1,436	Personal article stand alone through American Family. Covered all over, for less than 1% of replacement.

12 July 2019, 12:07 AM	#14
d11n "TRF" Member Join Date: Jun 2019 Location: UTC/GMT -8 hours Watch: yes Posts: 415	home policy with riders

12 July 2019, 01:04 AM	#16
raclaims "TRF" Member Join Date: Mar 2013 Location: NJ Posts: 2,584	They are all absurdly expensive...I just add to my homeowners like most people but the pricing is ridiculous

12 July 2019, 01:14 AM	#17
MayerFineJewlery Banned Join Date: Jul 2019 Real Name: Isa Location: CAN/USA/UAE Watch: Most of them Posts: 20	Never insured any of my personal watches.

12 July 2019, 07:52 AM	#20
dchang81 2024 Pledge Member Join Date: Aug 2014 Location: Cleveland Posts: 2,064	Wow lots of replies, thanks. Hah was hoping for a more universal response. jM estimate was over 2% which is not worth it to me.

12 July 2019, 08:34 AM	#21
Chiboy "TRF" Member Join Date: Aug 2016 Location: Chicago Watch: Daytona Posts: 5,407	I stopped insuring my DJ 20 years ago when I realized I could afford the loss. Nothing ever happened. I did insure my platinum Daytona when I got it. It's about 0.8% of value. TBH, if I didn't wear it every day, I probably wouldn't insure it. I can't see spending that much on ten nice watches that get worn once every two weeks a piece. But that's me. I did used to be responsible for corporate risk management, among other things, so know a bit about insurance. The main takeaway for me: insurance costs more than it's worth, so only buy it if you really need it. Everyone has a different risk tolerance and situation. Only you can determine yours. __________________ Datejust w/black Tapestry dial (1985) / Daytona (2016)

12 July 2019, 08:58 AM	#22
Bearxj86 "TRF" Member Join Date: Jun 2017 Location: Los Angeles Watch: 3970 Posts: 3,812	So Statefarm vs American at around 1% of replacement value. Anyone lower? I need at least 25 bps less guys. Anyone insured for 0.75% or less?

12 July 2019, 09:55 PM	#26
Fat_ninja Banned Join Date: May 2018 Real Name: Jonathan Location: USA Watch: P-01 Posts: 11,772	I self insure everything in my life =. Something happens = SOL

13 July 2019, 03:04 AM	#28
nycwatch23 "TRF" Member Join Date: Jul 2019 Location: NYC Posts: 41	I pay about 1.8% and live in NYC with Chubb. Am I paying way too much? First post but have been creeping this site forever!

3 August 2019, 03:07 AM	#29
bweig "TRF" Member Join Date: Jul 2019 Real Name: Brandon Location: Los Angeles Watch: 18038 Posts: 15	This was all very helpful. I can’t see paying 2% but for something you wear every day 88bps-1% seems like a tolerable response to the risk since statistically something will happen eventually with that much use. Sent from my iPhone using Tapatalk

3 August 2019, 03:22 AM	#30
singe89 "TRF" Member Join Date: Oct 2011 Real Name: Jim Location: Orange County, CA Watch: Rolex, AP & Patek Posts: 3,727	Just paid the annual premium and its 1.37% through Nationwide Private Client. Personal property was less with Statefarm but the total bundled homeowners, auto, etc. was less with Nationwide. Beyond the initial purchase price, this hobby gets expensive when you factor in service cost and insurance premiums on a monthly basis.

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