Insuring Watches

[MAT4150]

I wanted to get all of my watches insured through Hodinkee. Looks like a good service but was curious for watches with market prices lower than MSRP what should I insure them at? If a watch gets stolen/damaged really only want a replacement which they say they'll do so is it a waste of money to insure at a higher amount or just better to be safe?

[Calatrava r]

Whatever value you insure them for, unless the contract has a replacement provision, the insurance company will only pay "actual cash value" so over insuring never makes any sense. If the company will replace, at least insure for your MSRP on a watch still in production so the coverage is there for them to do that. On older pieces just get yearly current appraisals.

[Yobrooks]

Hodinkee Insurance is excellent in my opinion. Additionally, quite easy to keep track on the app.

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[charger_vital]

Originally Posted by Calatrava r

Whatever value you insure them for, unless the contract has a replacement provision, the insurance company will only pay "actual cash value" so over insuring never makes any sense. If the company will replace, at least insure for your MSRP on a watch still in production so the coverage is there for them to do that. On older pieces just get yearly current appraisals.

Actually, many will insure the watch for current market value even if it exceeds MSRP (with a cap).