International insurance as an expat question

[Expat Living]

Hi everyone,

First post here, though I've been lurking since I've been on a waiting list for a BLNR. Hoping some more experienced members can steer me in the right direction.

Here's the situation. I'm an expat in Shenzhen, China and I've been on waiting lists at 3 AD's in Hong Kong since April. My job has me traveling around Asia Pacific quite often, but the BLNR is such a hot item in Asia that they are nowhere to be found.

I'll be in North and Central America on business starting tomorrow and will be going through the Newark airport, Houston airport, spending some time in San Jose, Costa Rica and a little less time in San Francisco. Hoping to find the BLNR at one of those locations.

In case I do, I want to have some info on buying insurance for a Rolex as an expat. I rent my apartment here in Shenzhen, so homeowners insurance with a rider for the watch is not an option (have been an expat out here for about 9 years and I don't own any property back in the US).

I'd like to look at an insurance program where I could insure my (hopefully) soon to be Rolex, my wife's wedding ring, and a Jaeger Le Coulture I'll likely be buying the wife sometime in the near future.

Anyone have experience with insurance in a situation similar to the above?

[Old Expat Beast]

Maybe some of the other HK guys do, but I've never insured any of my watches.

[tamiya]

Wherever I've been, household insurance is always split between Building & Contents.

When I'm renting the landlord buys the Building insurance. Tenant can buy their own Contents insurance if they do wish, nothing to do with Building/homeowners.

[ADB85]

I insure my watches via TH March. I'm an expat living in Saudi and Dubai but maintain a home in the UK and travel a lot for work. I explained the situation to them and was completely honest with them about my residency and situation. They will then consult with their broker and quote based on your circumstances.

They weren't particularly cheap however...... So do the sums and work out whether the premiums are worthwhile.

Household insurance only covers stays overseas of up to 60 days (my UK contents insurance anyway). So if you're away for longer periods specialist insurance may be necessary.

[tyler1980]

if i am reading correctly and you are an american expat then i would recommend USAA as they insure all of our property/watches etc while we are currently expats. They are use to dealing with isurance for expats/military so if you are eligible then its really the best option. Insure through the US if possible as insurance is much cheaper.

[mjg002]

Try Clements Worldwide. They are based in Washington DC and I use them to insure contents and a watch or two and I’m a British expat in Nigeria! They offer expat contents insurance including specified valuables. Not cheap - but not overly expensive either.

[RollingRollie]

I was quoted a min premium of ~USD1k per annum in HK for similar items.

[HK Islandboy]

I use a rider on my household contents policy. Pricing is around 1% of the value of the watch.

However, given that any claim will drive my household premiums thorough the roof, I’m keenly watching this thread to see what other options there may be!

[mjg002]

Originally Posted by RollingRollie

I was quoted a min premium of ~USD1k per annum in HK for similar items.

That’s about what it costs me with Clements Worldwide - which given my location seems pretty reasonable. I had used Hiscox until they (thankfully) stopped offering the product and it was double that!

[Star Ferry]

I don't have insurance (American living in Hong Kong), but someone recommended Clements Worldwide to me.

My suspicion is that getting jewelry insurance locally (in Shenzhen) will be a major pain in the rear end. Coverage could be difficult to attain, expensive, and ultimately unreliable. Isn't the mainland known for red tape and bureaucracy that turn simple tasks into excruciating ordeals?

Personally I'd look for a US policy with global coverage. Best of luck

[Expat Living]

Thanks everyone, good advice.

[Expat Living]

Quick update. I ended up using Clements international. The cost was very reasonable.