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Old 10 April 2018, 06:36 AM   #1
plortedo
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What price you get from insurance?

Has anyone on this forum had to file a claim with their insurance company for a Rolex watch, who is willing to share what "value" their insurance company gave them compared to Rolex suggested retail?
The reason I ask is that I recently filed a claim with my insurance company for a lost Rolex, and the quote they received from Rolex was only about 75% of suggested retail price.
In the end this was irrelevant to me, as I asked them to send me a replacement watch (same model as the insured piece), but it did make me curious.
Does Rolex perhaps quote them the wholesale price?
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Old 10 April 2018, 09:01 AM   #2
Oat Willy
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A good policy will be "replacement cost" which means they pay you the retail price of the current version of the model
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Old 10 April 2018, 09:05 AM   #3
123Blueface
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I had a claim with Jweler’s Mutual, as well as one with HO insurance.

The latter entailed a dropped damaged watch, to the tune of nearly $3,000 to repair. They paid Rolex estimate.

Jeweler’s Mutual entailed a lost DJ, they not only paid insured brand new AD MSRP replacement, as insured, but allowed me to pay difference and get a different reference.

Hope that helps.
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Old 10 April 2018, 10:30 AM   #4
Jerz616
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Mine with State Farm is replacement cost. So if prices have gone up bu then they just give me whatever the cost is. (Guess that’s self explanatory huh).
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Old 10 April 2018, 10:35 AM   #5
liuk3
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Quote:
Originally Posted by 123Blueface View Post
I had a claim with Jwelerís Mutual, as well as one with HO insurance.

The latter entailed a dropped damaged watch, to the tune of nearly $3,000 to repair. They paid Rolex estimate.

Jewelerís Mutual entailed a lost DJ, they not only paid insured brand new AD MSRP replacement, as insured, but allowed me to pay difference and get a different reference.

Hope that helps.
I assume that you had stated what that brand new AD MSRP replacement figure was for Jeweler's Mutual?
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Old 10 April 2018, 11:10 AM   #6
Brew
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USAA is replacement cost. Must produce proof of purchase, e.g., receipt or warranty card.
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Old 10 April 2018, 11:38 AM   #7
dannyp
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The best thing to do is to have an appraisal. My watches are insured by JM (fortunately no claims yet!) and are insured for MSRP of the current version, based on an appraisal from the jeweler who sold me each.
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Old 10 April 2018, 01:22 PM   #8
Vicious49
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Originally Posted by dannyp View Post
The best thing to do is to have an appraisal. My watches are insured by JM (fortunately no claims yet!) and are insured for MSRP of the current version, based on an appraisal from the jeweler who sold me each.
Same for mine. Both of my Rolexes are insured this way. Didn't waste time getting my other watches insured.
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Old 10 April 2018, 01:25 PM   #9
jrs146
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Mine are insured for replacement cost which in this market can be more than MSRP. If I have my DaytonaC stolen Iím not wanting to wait 5 years to get one at MSRP. As far as Iíve been told by jewelers mutual they are able to pay a claim over MSRP as long as youíre insuring it for more and that model is being sold for a price higher than MSRP through a dealer. It costs me more in premium but I donít have to worry about being stuck without a watch because of lists and lack of supply.


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Old 10 April 2018, 01:33 PM   #10
Seekthefinest
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Mine are insured with Jewelers Mutual at appraisal value. I own a Tag Heuer Link Automatic that appraised for significantly higher than current used replacement cost and a Daytona that is being insured at current gray market value.
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Old 10 April 2018, 02:54 PM   #11
You
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Jewelers Mutual goes off replacement cost so retail.
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Old 10 April 2018, 08:34 PM   #12
123Blueface
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Quote:
Originally Posted by liuk3 View Post
I assume that you had stated what that brand new AD MSRP replacement figure was for Jeweler's Mutual?
Correct.
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Old 10 April 2018, 09:04 PM   #13
beshannon
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That would depend on what you signed when you purchased the policy.
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Old 10 April 2018, 09:17 PM   #14
Basque1
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Full replacement cost is what you need. Get an appraisal when you buy your watch, it is normally a bit higher than the retail price. Provide it to your insurance Company and normally it should work, at least Allstate does.
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