Do you insure your watches?

[Gold Crown]

I don’t normally past a jewelry rider I have on my home owners policy but when I bought the Air King last week I took out a separate policy on it. It covers everything even breakages for $80 a year seemed reasonable enough to me.

[brandrea]

I used to but got tired of the premiums.

I guess at this stage I’m prepared to suffer the loss of one gets lost or stolen.

[Dennisoul]

Yes....I have 5 Rolex and all are insured.

[Jona]

I do not. Part of me feels I should, but I did have a rider on a diamond ring some years ago. I lost it, honestly, and put in a claim. They paid it, but raised my rates 15% for 3 years. I heard from a reliable source that if you make a 2nd homeowner's claim, even for something different, other than an act of weather, you can be dropped and blackballed. You then need to seek high risk insurance and the rates skyrocket. OTOH I guess that's a small price to pay if you recover the loss of a five figure watch collection.

There are other factors in my decision, such as where I live, home protection, are we ever away from home, etc.

[Brny11]

100%. A friend was robbed in Nashville. Awful story as his late father gave him the watch for his 30th. Got a new DJ41 within a few months. Doesn’t make up for the sentimental loss, but was very painless with jewelers mutual and has a watch back on his wrist.

For 1-2%, I can’t think of a reason you wouldn’t.


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[GoingPlaces]

All insured under homeowners.

[beshannon]

Yes

[J7son]

Yes - with a personal property insurance rider

[toomann]

Yes. First thing I did. It's small price to pay.

[AJV_36]

Only have one but yes with same folks as all my other insurance. Covers everything up to 10k ( I know I will prob have to up it next year if price to replace rises ) $75 a year


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[Gold Crown]

Originally Posted by Brny11

100%. A friend was robbed in Nashville. Awful story as his late father gave him the watch for his 30th. Got a new DJ41 within a few months. Doesn’t make up for the sentimental loss, but was very painless with jewelers mutual and has a watch back on his wrist.

For 1-2%, I can’t think of a reason you wouldn’t.


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This is the company I went with as well. I like the fact if I accidentally damage it they will cover the repairs also.

[Pongster]

I dont. Should I? I keep them in safes. With some of the others.

[RichM]

Yes I do. I also have a good portion of my wife’s jewelry insured, and also have a large home safe to keep it all in.

[bayerische]

Um, yeah.

[JDsnewwatch]

Yes, you should I sure the ones that would really bother you if something happened to them. Depending on your threshold, this can vary.

Also, be careful with home safes. I have a friend who is also an engineer. He showed me exactly what it would take to break into a safe. It was a video that took maybe 20 minutes. Then he showed me something worse. He showed me how quickly a safe can be physically removed from a house using a plumbing pipe! It was under 2 minutes. I’m not against safes, but have them installed and hidden. Also, when I am having work done in my house, I empty mine and physically take the door off. Thankfully I’ve never had a problem. In the event that I can’t get to the bank vault, I just bring a bag to work or to my in-laws house.

Also, if it’s valuable and you never wear it / use it.. it belongs in a bank vault box. I have items that are not extraordinarily valuable in dollars, but they hold a very high sentimental value to me. There are things that I wouldn’t wear but are in safe keeping for the next generation. They live at the bank.


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[MOVSOONER]

Absolutely, both against thief and lost.


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[Blansky]

No.

[superdog]

I have two gold Rolex watches that are insured.

The rest are not.

[RHIII]

Yes, along with my wine collection and my wife’s jewelry.

I just like peace of mind, and since we travel quite a bit - I don’t worry about taking any 3 watches with me.


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[kieselguhr]

Yes, watches and jewelry. They are also in a safe bolted to the ground when not in use. The safe is just to deter opportunistic amateurs. If someone really wants to, they could easily rip the safe out of the floor with a tow truck and chains.


AOW

[123Blueface]

Yes, all of our watches and jewelry.

[JTL31]

Originally Posted by J7son

Yes - with a personal property insurance rider

+1
I spoke w/my AD yesterday about increasing the appraisal for my LVc. She stated they don’t consider “potential replacement cost - re: grey market” only MSRP. Her reasoning was that Rolex watches aren’t supposed to be offered NIB w/full set via grey dealers.

However, should the watch be discontinued in the future I should revisit their procedure for replacement cost via grey or individual asking prices. I thought that was interesting.

[locutus49]

Insured under USAA homeowners. Cost a pretty penny.

[RW16610]

I certainly am, covered by Jewelers Mutual. I feel as if what I pay is fair to give me peace of mind.

[Rashid.bk]

I think it's prudent to do so especially that it seems no where is safe based on all these threads here.
I sleep a little better at night.

[Chiboy]

I guess I'm somewhat of an outlier. I insured my TT DJ for a while, and then stopped. Figured I could absorb the loss if I had to. I haven't insured it in maybe 25 years or so. I did insure the Daytona when I got it, but not for MSRP, for what I paid for it (it was a year old).

Everyone's risk tolerance is different. But I can't imagine those of you who have 10+ expensive watches paying 1-2% per year per watch. I wear my Daytona every day, and it's (kinda) worth it to not worry about it. Although I doubt I would worry about it anyway. But if you had ten of 'em, and were paying $5k/year, I'd feel like I was throwing money away.

FWIW, in my "prior life" part of my job included overseeing risk management (including insurance). First thing I learned was, "only insure those risks you can't afford to take as insurance costs more than it's worth."

That's me. You do you!

[wesdaniel]

I insure as a personal articles policy on my HO insurance. I pay $6 per year per $1K of insured value. Covers loss, theft, accidental damage.

Had one claim, was resolved quickly with a check and didn't make my rates go up.

Either insure or be prepared to cover the loss yourself if something happens.

[Rebel]

No.

[TheVTCGuy]

Yes

[~JJ]

Yes, cheap security and peace of mind.