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29 March 2023, 11:51 AM | #1 |
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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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29 March 2023, 12:51 PM | #2 |
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Real Name: Bruce
Location: Delray Beach, FL
Watch: Rolex
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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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29 March 2023, 01:44 PM | #3 |
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Real Name: Ross C.
Location: Miami, FL.
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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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29 March 2023, 02:21 PM | #4 |
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Real Name: Dave
Location: San Diego, CA
Watch: 126600
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29 March 2023, 03:33 PM | #5 |
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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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29 March 2023, 05:50 PM | #6 |
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29 March 2023, 06:24 PM | #7 |
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Location: FL
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On Hodinkee my rate is 1.7%. I haven’t had a claim yet though.
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29 March 2023, 06:29 PM | #8 |
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Hodinkee works for me.
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29 March 2023, 09:41 PM | #9 |
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Location: North Carolina
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Hodinkee for me.
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29 March 2023, 10:51 PM | #10 |
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Location: Oceanside (CA)
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2 watches for 120K total for $1200 a year through Hodinkee - Pretty decent.
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29 March 2023, 11:02 PM | #11 |
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Join Date: Nov 2010
Real Name: AJ
Location: USA
Watch: Swiss
Posts: 5,207
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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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30 March 2023, 01:19 AM | #12 |
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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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30 March 2023, 01:20 AM | #13 |
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Hodinkee for me. Snap a photo and you're insured.
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30 March 2023, 01:25 AM | #14 |
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Location: San Francisco Bay
Posts: 100
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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%. |
30 March 2023, 01:29 AM | #15 |
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Hodinkee has been amazing for me, easy to use, and its backed by Chubb.
Easy call. |
30 March 2023, 02:39 AM | #16 |
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Real Name: Bill
Location: USA
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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. |
30 March 2023, 02:48 AM | #17 | |
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Watch: GMT II, Exp Polar
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Quote:
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30 March 2023, 04:44 AM | #18 | |
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Quote:
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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"Look, he’s winding up the watch of his wit; by and by it will strike." W.S. |
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30 March 2023, 04:48 AM | #19 | |
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Quote:
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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"Look, he’s winding up the watch of his wit; by and by it will strike." W.S. |
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15 March 2024, 11:04 AM | #20 |
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Location: New York
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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. |
15 March 2024, 12:27 PM | #21 |
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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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