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Old 5 October 2022, 04:47 AM   #31
Ballzzz
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Quote:
Originally Posted by HHIslander View Post
USAA took care of me in a few minutes.

There must be some reason why more people don't do this. I'm guessing not all home insurance companies offer insurance riders on jewelry and watches.
Many suggest not having a rider on homeowners as its a liability on your policy, could be dropped with a claim etc.
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Old 5 October 2022, 09:06 AM   #32
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I wrote my answer because I was actually surprised about the OP’s story.
The concept of gated communities and armed ones at that are non existing in the country where I live. I did not know these even existed in the US.

Supposedly being afraid when stepping out of the safe zone must be a terrible feeling and I am not so sure that is a place where I would like to stay.
Not safe for my watch than how safe can it be for my family ?

If being insured makes you feel secure than by all means, but after a robbery or burglary recovering a watch would be on the bottom of my priorities.
Just to be clear it’s a gated community with security guards. They are not armed. They check guests information before allowing them into the neighborhood. It’s pretty “normal” in the US. It doesn’t mean, that outside the gates are terrible places. As I mentioned in my OP, the city I’m in is one of the safest in Atlanta. I don’t hesitate to wear my watch outside of the neighborhood. Insurance is for peace of mind incase of theft, loss , damage , etc…
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Old 5 October 2022, 09:09 AM   #33
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I have mine through a personal articles policy bundled with my vehicles insurances through state farm. Covered for the “adjusted for inflation” amount (which is about $800 more than I paid) anywhere in the world due to loss, theft or damage.


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Old 5 October 2022, 12:06 PM   #34
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Quote:
Originally Posted by Brownb2110 View Post
Just to be clear it’s a gated community with security guards. They are not armed. They check guests information before allowing them into the neighborhood. It’s pretty “normal” in the US. It doesn’t mean, that outside the gates are terrible places. As I mentioned in my OP, the city I’m in is one of the safest in Atlanta. I don’t hesitate to wear my watch outside of the neighborhood. Insurance is for peace of mind incase of theft, loss , damage , etc…
Have you reached out to Chubb/HODINKEE yet? As I mentioned earlier prior to today I had all of mine except 2 on my home owners/rider policy but after a long phone call today which confirmed what I already knew I moved the entire lot to Chubb.

To all the people including what used to be me, keep in mind if you use your home owners and you file a claim when they re rate you the following year that claim will definitely play a role. Confirmed by my home owners insurance. Maybe for some of you it’s different but not for me.

Plus if you escrow your home owners that is less of your monthly going to the principal. Higher home owners. Higher escrow. I dropped every Rolex I had on my owners policy, over 100k, and with the pro rated refund it paid for the new policy with Chubb with money to spare. About $500.

So less money, better coverage, longer term, and away from my home owners.
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Old 5 October 2022, 12:39 PM   #35
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I don't know about you, but I think there's more risk of having a watch stolen while you're wearing it away from home than there is of someone breaking into your home and walking away with your safe and everything that's in it.


Crime has no address.
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Old 5 October 2022, 09:26 PM   #36
Bluside
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I left JM for Hodinkee last year. Hodinkee will actually pay to replace the watches at market value.
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Old 6 October 2022, 04:41 AM   #37
travisb
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Use Chub or Wax


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Old 6 October 2022, 09:06 AM   #38
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I'm not going to read the entire thread, but why didn't you use your home owners insurance?
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Old 7 October 2022, 02:53 AM   #39
904VT
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Check out Hodinkee by Chubb alternatively for insurance. They specialize in watches, so may be better accommodating.
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Old 7 October 2022, 02:54 AM   #40
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Originally Posted by GradyPhilpott View Post


Crime has no address.
But insurance agents and companies do!

Seriously some areas some insurers won’t insure for license issues (which then maybe a risk issue but not in a crime sense but just in a pool sense).
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Old 7 October 2022, 10:35 PM   #41
Fleetlord
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Take the Rolex watches off the submission and I would be it gets approved
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Old 11 October 2022, 05:24 AM   #42
bobernet
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Insurance Declined!

JM declined me on a high dollar collection, too. I decided to switch from my homeowner’s rider, because of their insistence on not paying a penny more than appraised value, so the need to be constantly re-appraising the collection.

Switched to Hodinkee/Chubb. Competitive rates, no appraisals below $100k, automatic/electronic appraisals in most cases above $100k, pay up to 150% of insured value. Much better overall experience, IMO.

Just found the note from JM:

“Thank you for your interest in insuring your jewelry with Jewelers Mutual Group. After careful review of your application, we cannot insure your item(s) at this time. The level of risk to insure your item(s) is too high due to the following criteria:

Nature or type of jewelry item(s) you intend to insure”



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Old 12 October 2022, 05:00 AM   #43
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I was declined in a very similar situation in 2017. Amazing credit, area, never a single claim for anything, etc. and denied.
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