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16 January 2019, 06:25 AM | #61 |
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my butler knows where I keep the rifles
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17 January 2019, 04:50 AM | #62 |
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Real Name: Dave
Location: UK
Watch: ing and waiting!
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My house insurer wanted about £100 per watch
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17 January 2019, 06:36 AM | #63 |
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Its worth noting that if you are insuring your watches with M&S household policy, they will only pay the value, not new for old, so you will need to obtain a valuation. This may not therefore cover the cost to buy a replacement. Some insurers will cover new for old, providing you can show evidence of the purchase.
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17 January 2019, 07:16 AM | #64 |
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Out of curiosity what safes do you guys own/recommend. I am looking at options at the moment to safeguard watches and valuables and wanted recommendations. Each site has a different top 5 models and most have very low cash coverage levels (is this standard)
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17 January 2019, 07:36 AM | #65 | |
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Real Name: Sal
Location: London
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Quote:
My personal opinion is that any decent, professionally installed safe will prevent an opportunistic thief from getting your stuff. The vast majority of burglaries are over in less than 3 minutes so any old safe will protect a watch collection in that scenario. If on the other hand you are targeted by professional thieves, then they are probably getting their hands on your stuff regardless, either because they’ll target you and your family personally or stake you out and burgle you when they know they have time to crack whatever security you have. In this event the type of safe you have is irrelevant. Fortunately this type of crime is relatively pretty rare. |
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18 January 2019, 09:04 AM | #66 |
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In the case of limited/rare models (or most ss sports at the moment), do you insure for the rrp value or the premium price you would have to pay to get your hands on a replacement? How does this work with the insurers.
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25 June 2021, 04:58 PM | #67 | |
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Real Name: John
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Watch: Submariner ND
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Quote:
I’m finally picking up my long awaited BLNR next week from my AD and as most know it would cost around double the RRP if I needed to replace it should the worst happen. Does anyone have experience or recommendations of insurance companies paying out on what the watch costs to replace rather than RRP? FYI I also have a SS Sub (14060M) and TT Datejust 126303) that would also cost far more to replace now than what I initially purchased them for. Look forward to reading your comments |
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25 June 2021, 07:29 PM | #68 |
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Added to my house insurance.
Valuable watches have to be specified This caused a small increase in my premium but i am covered worldwide for any eventuality.
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Regards, CharlesN Member of the IWJG. |
25 June 2021, 07:30 PM | #69 |
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They are insured at Purchase price and my Policy requires them to reolace with new.= item the same or as similar as possible.
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Regards, CharlesN Member of the IWJG. |
25 June 2021, 07:40 PM | #70 |
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Real Name: Martin
Location: England
Watch: 124060 Submariner
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I used an insurance broker, Stanhope Insurance, they found me an all inclusive buildings/contents policy that allowed me to list each watch separately. Each watch I add increases the premium, my Submariner 124060 took the premiums up by £11 for the year. The policy is with AXA.
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Martin Small Rolex, Omega, Seiko and Oris Collection |
25 June 2021, 07:59 PM | #71 | |
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Quote:
Having a policy that insured for market value was even more expensive with the watches and any jewellery having to be taken to an independent assessor for appraisal each year, that appraisal was at my expense, the premium above a standard buildings/contents with named items policy was staggering, oh and I had to have a safe installed. Like most insurances in the UK the lack of regulation means that insurers can get away with charging what they like, I often wonder if these companies get together round a table or hold a video 'teams' call and decide what rates to apply. My policy is due for renewal in September so I will be interested to see what the increase in premiums is for the next 12 months.
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Martin Small Rolex, Omega, Seiko and Oris Collection |
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25 June 2021, 11:26 PM | #72 | |
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I have a quote open with NFU but they have some requirements including a new alarm system (approx £1k) a new safe (£1.3k) and the policy is still £1.8k. They're also not giving me a rigid answer re valuations and what accreditation etc is needed which isn't giving me much comfort in the event of a claim. They did spam my details out to a third party who value in the home for an extortionate fee. |
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25 June 2021, 11:52 PM | #73 |
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After contacting many most of which were hopeless and overpriced i rang Direct Line Select
… They have been excellent thus far and understand our daft hobby and its nuances..no filling in masses of online questions just ring and speak to a knowledgeable human…they also roll in home etc if you wish…. |
25 June 2021, 11:54 PM | #74 | |
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26 June 2021, 01:32 AM | #75 |
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I am keeping an eye on this thread too.
Got an incoming due and had already struggled with current insurer (Aviva) at last renewal as values had passed the £30k mark. Pretty sure I am going to need to look elsewhere when the new one lands. |
26 June 2021, 04:23 AM | #76 |
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26 June 2021, 04:26 AM | #77 | |
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Real Name: Martin
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Watch: 124060 Submariner
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Quote:
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Martin Small Rolex, Omega, Seiko and Oris Collection |
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26 June 2021, 04:39 AM | #78 |
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26 June 2021, 04:41 AM | #79 | |
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Quote:
You need to contact “Direct Line Select Premier” which is a different dept specialising in daft people who collect daft priced watches and other daft stuff like artworks and Faberge eggs…no I haven’t….. Had cover sorted within 2 hours of initial contact incredibly professional and appoint you a dedicated handler….and they are very familiar with current pricing trends… |
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26 June 2021, 06:17 AM | #80 | |
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Real Name: Martin
Location: England
Watch: 124060 Submariner
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Quote:
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Martin Small Rolex, Omega, Seiko and Oris Collection |
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27 June 2021, 04:57 AM | #81 | |
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Real Name: John
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Watch: Submariner ND
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Quote:
I’ve just been quoted £480pa by John Lewis for contents, with three additional high value (over £3,000) items, (no date Sub, Wimbledon DJ and GMT II ‘Batgirl’) that also includes cover while I’m wearing them outside my home…but not accidental damage. I thought it was reasonable but remain unsure if they would pay out on the purchase price, or market value. As suggested, I think a call to DL is coming very soon… |
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27 June 2021, 05:04 AM | #82 | |
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I wanted to go with M&S but I think they tap out at £30k total watches and I'm due to get a YM42 shortly which is above the £15k single item limit anyway. Going to give the special DL route a try next week. |
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27 June 2021, 05:33 AM | #83 |
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just renewed my home insurance with AXA, includes £30k away from the home (£15k max per item). Includes accidental damage, new for old, the lot.
Buildings and contents for £500 for the year. |
27 June 2021, 06:10 AM | #84 |
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My M&S policy ascribes a £15k max to any one valuable item (includes watches) with the maximum total claim on all valuables being £50k. Of course they will pay out if items of higher value are otherwise insured, they just won't pay out on the otherwise insured items. Logical.
Just read the small print and speak to somebody at the insurance company/provider/underwriter if unsure. Don't ask the bloke down the pub or take third hand advise from strangers in internet forms. |
27 June 2021, 06:27 AM | #85 |
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I’ve been round the block with this myself a few times.
In the end I came to realise the best policy and the cheapest is just buy a bloody good safe. And I’m not talking about the type you can pick up in B&Q. Go to a safe specialist and any large collections keep in a bank vault. Metro Bank are one of the few high street banks in the uk that offer safety deposit boxes still. |
27 June 2021, 06:31 AM | #86 | |
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11 March 2023, 04:19 AM | #87 |
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Watch: SD4k - Sky D
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Service Requirement
It is a condition of cover that any watch valued £20,000 or above must be serviced in line with manufacturer's recommendations. What is the manufacturer recommendations for a 2022 SKYD?
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♛ Sea Dweller 4000 (SD4k) - Ref:116600 ♛ Sky Dweller - Ref: 326934-0004 Ω Swatch X Omega Mission to Jupiter (SO33C100) |
11 March 2023, 05:24 AM | #88 |
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10 years. found it sorry
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♛ Sea Dweller 4000 (SD4k) - Ref:116600 ♛ Sky Dweller - Ref: 326934-0004 Ω Swatch X Omega Mission to Jupiter (SO33C100) |
11 March 2023, 08:57 AM | #89 | |
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