Rolex Insurance

[DNX]

Gents,

I am not sure what to do...

I am looking to insure my watches - some of which are Rolex - do you insure them at the price you paid if say you had a discount, or the RRP at time of purchase, or the current RRP, or the price to replace today with a used on the secondary market given they prices in some cases are doubled?

Just wondering if one made a claim - would the insurer then give you the money to replace at the current market rate or the RRP (which will be lower) but is the cost of a new one (if you could get a new one anywhere)?

Any thoughts or experience?

[Exceptional1]

You can do both.

If you want RRP (or price you paid) you'll need to provide receipt evidence. But if you want to declare the market value, you'll need to get it valued and provide the valuation report to your insurer.

[Soultime]

Pretty sure we had a similar thread not too long ago?
My insurer insisted on retail price and said you couldn't insure for more.

[MrGoat]

I insured mine through State Farm as a personal articles policy addition to my car insurance. They wanted pics of the receipt, serial # and model. They insured it for full price paid on receipt (tax included). If the watches replacement value goes up it’s on me to get a current appraisal and provide it to the insurance for them to up coverage.


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