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5 December 2017, 06:07 AM | #1 |
"TRF" Member
Join Date: Apr 2013
Location: USA
Watch: Daytona 116500LN
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Insurance on DaytonaC
Anyone have insurance on your DaytonaC? What if you paid more than retail?
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5 December 2017, 06:09 AM | #2 |
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Location: Chicago
Watch: Daytona
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I imagine you can get it insured for whatever you get it appraised at.
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Datejust w/black Tapestry dial (1985) / Daytona (2016) |
5 December 2017, 06:12 AM | #3 |
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Real Name: David
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Can you show the insurance company the invoice?
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5 December 2017, 06:14 AM | #4 |
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Join Date: Oct 2017
Location: Chicago, IL
Posts: 713
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Yeah, you can show them either the invoice or an appraisal.
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5 December 2017, 06:21 AM | #5 |
"TRF" Member
Join Date: Apr 2013
Location: USA
Watch: Daytona 116500LN
Posts: 80
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I guess the big question is this.
I have the original buyers invoice showing $12,400 and our Bill of Sale of the amount that I paid the buyer. This amount is higher due to market conditions. Would think I should be able to be covered for the higher amount??? |
5 December 2017, 06:38 AM | #6 |
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Location: Montana
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Yes, in general you are covered at appraised value. Solution: Seek an appraisal from a legitimate source (jeweler, watch dealer) and provide that to your insurance company to raise the insured value to be more in line with market rates.
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5 December 2017, 07:38 AM | #7 |
2024 ROLEX DATEJUST41 Pledge Member
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Real Name: Dave
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Um, will appraiser and insurance company see Gray Market price as market value when the Daytona C is available from Rolex at $12,400? Don't insurance companies insure at replacement cost, no matter how long you would have to wait to purchase a replacement?
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5 December 2017, 08:25 PM | #8 |
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Join Date: Apr 2017
Location: Michigan
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No, in fact many limit the time to settle a claim to a year or 2. Insuring for higher gray value is very reasonable, if your Daytona disappeared this week, you would need the higher value to replace it in any kind of reasonable timeframe, merl would not fulfill the insurers obligation to replace the piece.
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5 December 2017, 08:35 PM | #9 |
Banned
Join Date: Oct 2017
Location: US/JM/Netherlands
Posts: 138
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I do not insure my jewelry.
I don't see the value in it. |
5 December 2017, 10:39 PM | #10 |
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Real Name: Brian (TBone)
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I suppose you can insure it for any amount as long as you pay the premium
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11 December 2017, 11:23 AM | #11 |
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Join Date: Dec 2016
Location: Las Vegas NV
Watch: 14060M COSC
Posts: 1,329
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Have your insurance company issue a rider on your home owners or renters policy. Tell them what you paid for it (proof may be required).
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11 December 2017, 12:46 PM | #12 |
"TRF" Member
Join Date: Apr 2013
Location: USA
Watch: Daytona 116500LN
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