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Old 29 March 2023, 11:51 AM   #1
Mobokid
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WAX or Hodinkee Insurance

Looking to insure my watches. I narrowed it down to these 2, both are connected with CHUBB insurance. Can anyone share their experiences with both? Thank you!


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Old 29 March 2023, 12:51 PM   #2
Bdiesel570
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I haven't had to do a claim with WAX, but that is who I use. extremely easy to get a policy. snap some pics and boom
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Old 29 March 2023, 01:44 PM   #3
russ86
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I know a friend of mine is insuring with hodinkee and he is pretty happy. Easy set up process.
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Old 29 March 2023, 02:21 PM   #4
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I haven't had to do a claim with WAX, but that is who I use. extremely easy to get a policy. snap some pics and boom
Ditto with Hodinkee. I just added a new watch yesterday and it literally took one pic of the watch in question.
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Old 29 March 2023, 03:33 PM   #5
WilsdorfNDavis
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Hodinkee was super easy to use.
They do not require appraisals for watches below $100,000 in value.
FYI, My rate is 1.1%/yr of the insured value
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Old 29 March 2023, 05:50 PM   #6
BriansRolex
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Originally Posted by WilsdorfNDavis View Post
Hodinkee was super easy to use.
They do not require appraisals for watches below $100,000 in value.
FYI, My rate is 1.1%/yr of the insured value
How so cheap? I'm being quoted over double that.
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Old 29 March 2023, 06:24 PM   #7
Sephiroth
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On Hodinkee my rate is 1.7%. I haven’t had a claim yet though.
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Old 29 March 2023, 06:29 PM   #8
KdPg
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Hodinkee works for me.
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Old 29 March 2023, 09:41 PM   #9
1William
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Hodinkee for me.
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Old 29 March 2023, 10:51 PM   #10
Commandopat
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2 watches for 120K total for $1200 a year through Hodinkee - Pretty decent.
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Old 29 March 2023, 11:02 PM   #11
AJMarcus
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I use Hodinkee as well. Very easy to use, ad or delete watches, with an excellent interference. I used to use my home insurance policy but Hodinkee is actually more cost effective.
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Old 30 March 2023, 01:19 AM   #12
BriansRolex
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For those of you with Hodinkee what value did you use? MSRP? What you paid for it? What it's currently worth?
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Old 30 March 2023, 01:20 AM   #13
m3tek44
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Hodinkee for me. Snap a photo and you're insured.
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Old 30 March 2023, 01:25 AM   #14
BayAreaTech
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Shop around including your current provider of insurance (Home, auto, etc.) as they may have a better rate. Look for "Mysterious Disappearance" in your policy language. I was able to secure at 0.71% for some of my more valuable pieces.

Jewelers Mutual and others mentioned here can be quite pricey, close to ~2.0%.
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Old 30 March 2023, 01:29 AM   #15
Tell44
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Hodinkee has been amazing for me, easy to use, and its backed by Chubb.

Easy call.
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Old 30 March 2023, 02:39 AM   #16
woody88
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Quick question on the so called covered up to 150% of its value, per Hodinkee. So what about certain watches that have appreciated more than 150% of its original value? does taking the instant photo, get you insured values of what deemed current market prices?

And for certain brands that have depreciated quickly, how does the insured/appraised value work?

Thanks in advance.
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Old 30 March 2023, 02:48 AM   #17
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Quote:
Originally Posted by woody88 View Post
Quick question on the so called covered up to 150% of its value, per Hodinkee. So what about certain watches that have appreciated more than 150% of its original value? does taking the instant photo, get you insured values of what deemed current market prices?

And for certain brands that have depreciated quickly, how does the insured/appraised value work?

Thanks in advance.
That's the question; which value? Was it the original MSRP? Is it the current market price?
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Old 30 March 2023, 04:44 AM   #18
WilsdorfNDavis
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That's the question; which value? Was it the original MSRP? Is it the current market price?



From what I read in my policy it is 150% of the value that you insured the watch at...if the value goes above that you would need to update your policy to the new value.
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Old 30 March 2023, 04:48 AM   #19
WilsdorfNDavis
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For those of you with Hodinkee what value did you use? MSRP? What you paid for it? What it's currently worth?
You can insure your watches for whatever value you want.

For example, I insured my Omegas for MSRP because current market value for them is lower than MSRP but for my Rolexes I insured them for the current market value because it is higher than MSRP.

Basically insure them for whichever value is higher.
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Old 15 March 2024, 11:04 AM   #20
djanalytic
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Wax Insurance is horrible. Customer service is unresponsive to requests to update collections and I've heard this from multiple people.

The worst - they forgot to bill me twice. Once they charged me for several thousand dollars with no notice or invoice.

I would go with no insurance before choosing Wax, it's been an absolutely horrible experience.
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Old 15 March 2024, 12:27 PM   #21
ajw45
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Note hodinkee is up to 150% of the watch value up to the total value of the collection. If all your watches go, you still max out at no more than the insured value.

Also, distribution is important. It costs a lot more to insure one $100k watch than 10 x $10k watches....
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