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Old 15 September 2020, 02:45 AM   #1
MacanS
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Insurance Question and value

Hey everyone

So I have USAA insurance on both my watches (hulk and Batman). They are insured for essentially what I paid for them (I have the receipt uploaded to their system) Around 17k total for the both

With the current market value of these watches, should I get them appraised for their current market value and insure it for that?

I’m afraid that if something happened, I would not be able to get anything for 8k that each watch is insured for


Thanks in advance
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Old 15 September 2020, 03:03 AM   #2
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Originally Posted by MacanS View Post
Hey everyone

So I have USAA insurance on both my watches (hulk and Batman). They are insured for essentially what I paid for them (I have the receipt uploaded to their system) Around 17k total for the both

With the current market value of these watches, should I get them appraised for their current market value and insure it for that?

I’m afraid that if something happened, I would not be able to get anything for 8k that each watch is insured for


Thanks in advance
I am considering buying insurance for my Rolex watch. Is USAA reliable? How much do you pay for a month? Thanks in advance!
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Old 15 September 2020, 03:08 AM   #3
Dino944
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Get appraisals for their current values. Otherwise, you will be short by several thousand if you ever need to replace them.
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Old 15 September 2020, 03:45 AM   #4
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Originally Posted by MacanS View Post
Hey everyone

So I have USAA insurance on both my watches (hulk and Batman). They are insured for essentially what I paid for them (I have the receipt uploaded to their system) Around 17k total for the both

With the current market value of these watches, should I get them appraised for their current market value and insure it for that?

I’m afraid that if something happened, I would not be able to get anything for 8k that each watch is insured for


Thanks in advance
Yes -- the purpose of insurance is to protect against theft / loss / damage, right? By having them under their market value, you're definitely at risk if something were to happen.

Your insurance provider should be able to insure your watch above MSRP with an appraisal. Good luck!
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Old 17 September 2020, 08:32 AM   #5
MacanS
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So here is a twist. I tried to up my insurance value from 9k to 18k on my hulk and usaa would not do it. They said that they would not go more than cost plus 25% on items less than 5 years old

I am removing all my watches. Anyone familiar with hodinkees plans??
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Old 17 September 2020, 08:42 AM   #6
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Originally Posted by MacanS View Post
So here is a twist. I tried to up my insurance value from 9k to 18k on my hulk and usaa would not do it. They said that they would not go more than cost plus 25% on items less than 5 years old

I am removing all my watches. Anyone familiar with hodinkees plans??

I just removed my watches from my homeowners and put on hodinkee. It was a tad bit more but now they are insured under their market value with no appraisals necessary. Very quick and easy. I put 4 watches on my plan
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Old 17 September 2020, 09:22 AM   #7
MacanS
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I just removed my watches from my homeowners and put on hodinkee. It was a tad bit more but now they are insured under their market value with no appraisals necessary. Very quick and easy. I put 4 watches on my plan
Thanks. So with their pay 150 percent appreciation did you insure your watches for what you paid (9k for hulk) or what it is worth on the market today 18k?
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Old 17 September 2020, 09:38 AM   #8
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Thanks. So with their pay 150 percent appreciation did you insure your watches for what you paid (9k for hulk) or what it is worth on the market today 18k?
If not insured at market -- if they all get stolen from your house, you would be SOL. Something to keep in mind
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Old 17 September 2020, 10:51 AM   #9
Screwly
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Thanks. So with their pay 150 percent appreciation did you insure your watches for what you paid (9k for hulk) or what it is worth on the market today 18k?

I insured them for market value
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Old 17 September 2020, 11:20 AM   #10
MacanS
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I insured them for market value
Thanks looks like I’m going with them. Really like the no appraisal
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Old 18 September 2020, 12:52 PM   #11
Simba6976
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Problem is that is not their true market value I bet you if yo lost your Batman they would only give you retail price why give you that absurd amount when a brand new replacement is cheaper
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Old 18 September 2020, 12:53 PM   #12
Simba6976
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Thanks looks like I’m going with them. Really like the no appraisal
Need to be or have been associated with the US military.
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Old 19 September 2020, 05:21 AM   #13
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I’m insured with USAA VPP Plan. They accepted and insured my watches DD with an appraisal and my Omega Flightmaster without an appraisal. They were very easy to deal with and extremely affordable. However, you need to somehow be connected to the military. If you have any military connection, it’s worth getting a quote. I tried getting a quote from AAA but they, in my opinion had no clue, and they were being ridiculous. I always suggest giving USSA a call to see if your military connection is acceptable. I’m not sure how distant a relative, you have to have, to qualify. Perhaps, even an uncle, I’m just not sure. Hope this helps someone.
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Old 20 September 2020, 11:04 PM   #14
MacanS
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Need to be or have been associated with the US military.
So I was using USAA for my watch insurance (i also use them for everything else)

I was under insured by a great deal and they would not boost the watches to market value even with an appraisal.

Long story short is I switch to Hodinkee by Chubb and I couldn’t be happier.

A bit more expensive at 32k insured for 470, but at least I am properly protected. A bit disappointed in UsAA. But it is what it is. If you have them, call and make sure you have the protection you need for the market value of these pieces
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