Posting a Rolex with insurance cover

[Dan2394]

Hi,

I have looked into selling a Rolex on Chrono 24, Chrono state it is the responsibility of the seller to select a delivery method with suitable insurance cover.

I can only find delivery options with cover up to £2500.

Had anyone posted a watch of value £10-20k and did you manage to get insurance cover to that value?

Thanks


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[Calatrava r]

I think most people have their watches insured and they don't cancel the coverage until it has been delivered to the buyer safe and sound. Title to the watch doesn't transfer until the buyer the accepts the item.

[Dan2394]

I think a lot of watch insurance will only cover the watch if it is being worn on your wrist or in a safe, that’s the case for my cover anyway.


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[Calatrava r]

Originally Posted by Dan2394

I think a lot of watch insurance will only cover the watch if it is being worn on your wrist or in a safe, that’s the case for my cover anyway.


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I have mine on a Homeowner rider, it covers all loses including loss in transit, anywhere in the world.

[Dan2394]

In that’s case it wouldn’t be an issue.

I wonder how watch dealers or private sellers cover their watches while they are being?

Unless they have a policy to cover all stock.


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[sm84]

Originally Posted by Calatrava r

I have mine on a Homeowner rider, it covers all loses including loss in transit, anywhere in the world.

Could you share what homeowners insurance you are using?

[jamesbondOO7]

Insurance on watches is so expensive and the risk so limited if you are careful, just cover the risk yourself.

[slus]

You can do USPS registered mail for up to 50k. It is slow but safe. They'll even cover a box full of cash.

I risked it and sent one fedex overnight. I must have hit refresh on that tracking page 100 times the next day and called the receiver immediately when it was signed for. No issues but I probably wouldn't put myself through that stress again.

Edit: I should look at locations. And currency.

[hbbfam]

Originally Posted by Calatrava r

I have mine on a Homeowner rider, it covers all loses including loss in transit, anywhere in the world.

My ExpII was stolen from a gym locker. My ins company paid replacement value. I had a $5k rider, and they paid about $10,200. I probably could have held out for a bit more.

[Akacoke]

This confused the shit outta me. I thought they require you to post for photo proof with your watch on for insurance purposes. What does the word "shipping" mean in your country?

[kane818]

this is one of the reasons i don't try to sell my watches on my own via chrono24 or another platform. too much hassle to figure out shipping and other details

best of luck to you OP

[INC]

Originally Posted by Dan2394

I can only find delivery options with cover up to £2500.

Choose any major courier service against to Royal Mail.

[Dan2394]

Originally Posted by slus

You can do USPS registered mail for up to 50k. It is slow but safe. They'll even cover a box full of cash.

I risked it and sent one fedex overnight. I must have hit refresh on that tracking page 100 times the next day and called the receiver immediately when it was signed for. No issues but I probably wouldn't put myself through that stress again.

Edit: I should look at locations. And currency.

Do you know if this service is available worldwide?
I can’t seem to find this option in the UK.


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[slus]

Originally Posted by Dan2394

Do you know if this service is available worldwide?
I can’t seem to find this option in the UK.


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I can't imagine it being worldwide, I noticed your location and currency after posting and realized it would not work for you.

[Dan2394]

Has anyone used www.secursus.com for insuring a watch while posting?


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[Gandor]

In the US, UPS is the only shipper that will insure for up to 50k without major headaches and overnight. Just make sure to get label done at home online and drop off at a real service center. Dropping off at the normal UPS stores which are franchised owned can lead to headaches like having them open the package to verify the item, like they know what the f**k they're looking at.

[PenDelicate]

Interesting video I watched the other day:
https://www.youtube.com/watch?v=nImYVGWo1fg

Basically, he used UPS to send a Tudor and insured it with UPS for €3000. It was lost. UPS agreed it was their fault. But UPS only paid him €500 in compensation because in their terms and conditions they state clearly that they only insure up to €500.

[Gandor]

Originally Posted by PenDelicate

Interesting video I watched the other day:
https://www.youtube.com/watch?v=nImYVGWo1fg

Basically, he used UPS to send a Tudor and insured it with UPS for €3000. It was lost. UPS agreed it was their fault. But UPS only paid him €500 in compensation because in their terms and conditions they state clearly that they only insure up to €500.

That is actually absolutely insane. Why can you give these people money for services they can't render!

https://www.ups.com/media/en/terms_service_int_pr.pdf

https://www.ups.com/media/en/terms_service_gnd_pr.pdf

This is honestly the biggest scam I have ever heard of.

That really only leaves registered mail as the only viable shipping service for small players.