Which Insurance company do you insure with?

[TheBizMan]

What are some of the best insurance companies out there for watches right now as far as pricing and coverage? What premiums per $1000 ?

[vh2k]

Jewelers Mutual

[Bryan81]

Originally Posted by TheBizMan

What are some of the best insurance companies out there for watches right now as far as pricing and coverage? What premiums per $1000 ?

I just switched over to Hodinkee. They've been excellent to work with, the process for adding and updating covered watches is straightforward, the terms of coverage are excellent, and they know watches. A bit pricey at 1.3% of insured collection per annum, but it seems to be worth it.

[DougFNJ]

I've purchased using State Farm Personal Articles. Full coverage with low premiums.

[RichM]

Jewelers Mutual since 2016.

[rolehex]

Jewelers Mutual. And I have a real-life experience in using them for a claim, which was seamless. So they get a very positive review from me.

[TheBizMan]

Got some quotes and Jewelers Mutual is about 2.5x more than State Farm

[CamSLC]

American Family.

[DougFNJ]

Originally Posted by rolehex

Jewelers Mutual. And I have a real-life experience in using them for a claim, which was seamless. So they get a very positive review from me.

And that’s the important thing. Same deal here with State Farm. Omega Seamaster stolen from a gym locker. Had it replaced less than a week. Both companies are good choices.


Sent from my iPhone using Tapatalk

[Urosfan]

Originally Posted by DougFNJ

I've purchased using State Farm Personal Articles. Full coverage with low premiums.

Same


Sent from my iPhone using Tapatalk

[MrGoat]

Originally Posted by DougFNJ

I've purchased using State Farm Personal Articles. Full coverage with low premiums.

I use State Farm and just added a personal articles policy for my watch. Super simple, reasonably priced and they claim covered for damage, loss or theft anywhere in the world. If I want to up the value I just need to bring them a new estimate of the watches value.


Sent from my iPhone using Tapatalk

[Paul7]

Originally Posted by TheBizMan

Got some quotes and Jewelers Mutual is about 2.5x more than State Farm

The problem with State Farm is a claim can raise your other insurance rates. Had a claim once for a stolen firearm and that's what happened.

[beshannon]

Originally Posted by TheBizMan

What are some of the best insurance companies out there for watches right now as far as pricing and coverage? What premiums per $1000 ?

In what zip code at what deductible? How is your credit?

I use JM and homeowners both

[Paul7]

I will switch from JM to Hodinkee next time, Hodinkee will reimburse for 150% of stated value, JM makes you get an appraisal if the value went up.

[DougFNJ]

Originally Posted by MrGoat

I use State Farm and just added a personal articles policy for my watch. Super simple, reasonably priced and they claim covered for damage, loss or theft anywhere in the world. If I want to up the value I just need to bring them a new estimate of the watches value.


Sent from my iPhone using Tapatalk

That’s interesting. Inflation coverage should already be in there.

Originally Posted by Paul7

The problem with State Farm is a claim can raise your other insurance rates. Had a claim once for a stolen firearm and that's what happened.

Was that on your homeowners? I used to work for State Farm, that’s how I found out about these policies. None of my insurance went up on my claim when someone stole my watch, nor when a friend of mine’s wife lost a Diamond necklace. Both were on personal articles.

Straight up Homeowner claims are different, you lose your claims free discount.


Sent from my iPhone using Tapatalk

[Case61]

American Family as a rider to my homeowners. Premiums seem okay, and their service in other areas has always been great.

[MrGoat]

Originally Posted by DougFNJ

That’s interesting. Inflation coverage should already be in there.






Was that on your homeowners? I used to work for State Farm, that’s how I found out about these policies. None of my insurance went up on my claim when someone stole my watch, nor when a friend of mine’s wife lost a Diamond necklace. Both were on personal articles.

Straight up Homeowner claims are different, you lose your claims free discount.


Sent from my iPhone using Tapatalk

I was told they would only insure for what I paid, I had to produce a receipt. Didn’t read all the fine print as our agent is good friends with my old lady and there’s a level of trust there.


Sent from my iPhone using Tapatalk

[emersm]

Erie

[brandrea]

None

[wesdaniel]

Originally Posted by DougFNJ

Was that on your homeowners? I used to work for State Farm, that’s how I found out about these policies. None of my insurance went up on my claim when someone stole my watch, nor when a friend of mine’s wife lost a Diamond necklace. Both were on personal articles.

Straight up Homeowner claims are different, you lose your claims free discount.


Sent from my iPhone using Tapatalk

Same here - I had a claim on a stolen watch that was on my Personal Articles policy (not my homeowners) and had no increase in premiums. Claim was paid very quickly - though, not as fast as others have experienced. After I provided the police report, they spent about a week or 10 days trying to find a watch that they could purchase for the policy value (the inflation increases didn't keep up with the Rolex price increases) and, after they were unable to, they offered me the option of sending me a check or having me send them the difference and they'd provide me with a watch. I took the check, bought a watch on the gray market and had money left over for dinner.

I have about 50 items of watches and jewelry covered on my Personal Articles policy and pay less than $6 per year per $1,000 of insured value. That was about 1/3 of what JM quoted the last time I checked with them.

I have the option of giving a purchase receipt (if I purchase from an AD - they won't accept a receipt from a non AD third party) or having an appraisal completed. For example, I recently bought a Breitling Rainbow LE - the appraisal was about 150% of what I paid and they asked no questions.

[MrGoat]

Originally Posted by wesdaniel

I have the option of giving a purchase receipt (if I purchase from an AD - they won't accept a receipt from a non AD third party) or having an appraisal completed. For example, I recently bought a Breitling Rainbow LE - the appraisal was about 150% of what I paid and they asked no questions.

They took the receipt from my grey dealer with no problems.


Sent from my iPhone using Tapatalk

[DougFNJ]

Originally Posted by wesdaniel

Same here - I had a claim on a stolen watch that was on my Personal Articles policy (not my homeowners) and had no increase in premiums. Claim was paid very quickly - though, not as fast as others have experienced. After I provided the police report, they spent about a week or 10 days trying to find a watch that they could purchase for the policy value (the inflation increases didn't keep up with the Rolex price increases) and, after they were unable to, they offered me the option of sending me a check or having me send them the difference and they'd provide me with a watch. I took the check, bought a watch on the gray market and had money left over for dinner.

I have about 50 items of watches and jewelry covered on my Personal Articles policy and pay less than $6 per year per $1,000 of insured value. That was about 1/3 of what JM quoted the last time I checked with them.

I have the option of giving a purchase receipt (if I purchase from an AD - they won't accept a receipt from a non AD third party) or having an appraisal completed. For example, I recently bought a Breitling Rainbow LE - the appraisal was about 150% of what I paid and they asked no questions.

When I look to get a watch covered, I send photos showing the paperwork, receipt, some photos of the watch including one with a close up of the serial number so they see it matches the paperwork. Then I send a screenshot of the website showing the retail price. No appraisal should be needed on a watch. If inflation coverage isn’t keeping up with the price of the Rolex, you can always call if you hear about an increase and increase it over the phone.
Keep in mind, they have jewelers all over the country. They are heavy buyers, they get prices we don’t get.


Sent from my iPhone using Tapatalk