Hodinkee Insurance vs Chubb Direct

[lokomoko]

For those of you looking for insurance or already using Hodinkee...

I was about to sign up for insurance via Hodinkee for my Daytona, Sub Date, and GMT. I happened to be speaking with my insurance agent for an updated auto policy and told him about Hodinkee and how it was thru Chubb, no appraisals, 150% coverage (up to total policy limit assuming you have multiple items), etc.

He reached out to Chubb and got me a quote direct from them which was significantly less and included the same features (no appraisals for items under $100k, 150% coverage, and even could bundle in non-watches such as jewelry and art which Hodinkee can't won't do). I think part of the lower price was Chubb factoring in an alarm system at my house.

Hodinkee quoted me $835 / year for $65k in coverage.

Chubb was $745

Hodinkee is definitely easier to add to the collection, increase values, etc. But if you don't plan on changing the collection often, Chubb direct was cheaper.

[JodyHighroller]

Do you have other lines of coverage with Chubb? They typically require multiple lines in order to write a personal articles policy. That’s why Hodinkee is popular for the average collector who only wants watch insurance and nothing more.

[lokomoko]

Originally Posted by JodyHighroller

Do you have other lines of coverage with Chubb? They typically require multiple lines in order to write a personal articles policy. That’s why Hodinkee is popular for the average collector who only wants watch insurance and nothing more.

Oh interesting. No, I do not have any other coverage lines with Chubb. My auto, condo, umbrella are all with Nationwide.

[macrowatch]

Gotta pay hodinkee markup

[dcash0615]

I ended up insuring several pieces in my collection through Hodinkee and it worked out to be about $0.00873 (just under a penny per $1 insured) after factoring in the discounts for various security features I have. I was going to insure through USAA at $0.00611 per $1 in coverage, but they require appraisals and want a ton of other stuff once you go over $75k in coverage. Hodinkee is much easier to work with.

[Newt]

I use Chubb for my boat and some other things. They are pretty good compared to almost everyone else I’ve tried. Adding watches soon since I only thought to do it after I joined this forum…..last week. ��