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18 September 2020, 11:33 AM | #91 |
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Thanks for the link, I was looking into insuring my new purchase.
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18 September 2020, 11:35 AM | #92 |
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They seem to be lot more expensive per previous post about them.
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18 September 2020, 12:18 PM | #93 |
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My experience so far after getting a quote is they are in line with the carriers that write a proper Personal Articles policy. They have to make money too, so I can assure you they are marking up a premium you could get cheaper elsewhere.
What they do offer that is probably better is ease of policy changes/service, and ability to have a standalone policy. If you're somebody that goes into and out of watches frequently this is a huge advantage to be able to do that without having to call or email your agent. But the other things - no deductible, 150% of agreed value - those are common on proper Personal Articles policies. |
18 September 2020, 01:54 PM | #94 |
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How do you guys capture market value? I just bought a 2020 41mm and put market value at 11,000 does that sound right? Also I skipped the reference # part, is that okay? I don’t know where to get the reference number.
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19 September 2020, 05:03 AM | #95 |
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I’m also insured with USAA PPV plan. Very affordable, perhaps, because it’s multiple polices.
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19 September 2020, 05:21 AM | #96 | |
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Quote:
For instance new black submariner date has a Reference 126610LN, the green is 126610LV, and the no date is 124060 Edit: for the market value check out chrono24 or the "for sale" section here. |
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26 September 2020, 02:21 PM | #97 |
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Watch: Rolex 116710BLNR
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Just compared Jewelers Mutual and HODINKEE (Chubb) for my 116710BLNR and ended up signing with HODINKEE with $18,800.00 coverage for $263.00.
Two deciding factors for me were the simplicity during the signup process and the 150% appreciation protection, which I think is a must for watch models often adding 20-35% to their value per year. Also seems that adding my other watches will be a lot easier there (haven't done that yet though). |
26 September 2020, 08:17 PM | #98 |
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HODINKEE's estimate process was easy. Tossed some watches into the estimate tool.
Seems expensive though. $55,000 coverage is $780 annually. Hard to get an estimate from Chubb directly. My local traveler's home owners optional jewelry policy only really provides up to $10,000 per personal artifact with a deductible. Def worth it to at least get 1 year's coverage while looking at other options for peace of mind. I would to get an estimate from Chubb directly through one of the agents as that seems to be the process. |
26 September 2020, 08:59 PM | #99 |
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This is the worst insurance I have ever tried to use. I tried to list a Seiko LX for significantly less than value and waited a significant amount of time before I contacted them to see what was the issue. I was told I would be contacted in a few days, I was not and followed up and was told the underwriting for my State is different. No issues with Jewelers Mutual and typically insured within a few days. The customer service is a best lame and I would hate to think what a claim would be. I am going to contact them this week and see what they say. Once again, Hodinkee is suspect, ie travel clock, Special Edition watches, etc. I like the site but commerce with them is at best not so good, in my opinion.
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27 September 2020, 12:09 AM | #100 | |
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Quote:
Is your issue with the process of getting the watch insured? As in you paid but it was taking longer than anticipated to get your policy docs/policy under written? |
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27 September 2020, 01:54 AM | #101 | |
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Quote:
With Chubb, you're very likely to have to bundle it with auto, homeowners, etc. And, Chubb is typically much more expensive on other personal lines. I say "expensive" not necessarily in a bad way, because their overall coverage form, service, and claims experience is so much better than standard carriers. It all comes down to what you prefer. |
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4 October 2020, 10:00 PM | #102 | |
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Quote:
Sure seems exactly what I’m experiencing. |
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5 October 2020, 06:10 AM | #103 |
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they emailed back saying you must be a permanent US resident. so i’m out of luck, for now! hopefully they can change that soon
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16 October 2020, 10:16 AM | #104 |
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So, I just got my Sub insured with Hodinkee/Chubb for $139/yr covered for $10,000 compare it to JM $140/yr covered for $9,362.
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13 November 2020, 10:06 AM | #105 |
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13 December 2020, 03:00 PM | #106 |
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Any claims experience yet on HODINKEE (vs. JM)?
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14 December 2020, 05:12 AM | #107 |
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14 December 2020, 07:08 AM | #108 |
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14 December 2020, 07:46 AM | #109 | |
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Quote:
This is an extraordinarily profitable line of business assuming you have the correct underwriting tools and discipline.
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14 December 2020, 08:46 AM | #110 |
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14 December 2020, 12:45 PM | #111 |
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I probably should have qualified that a bit more. What I am saying at a broad level is that if you do due diligence on a “personal collections” policy through solid underwriting, it has a tendency to be a very profitable line of business with low loss ratios. What I really meant to say about claims experience is that this is likely not a place I’d expect to see much in the way of claims. The vast majority of people on these boards are collectors/hobbyists - They are very knowledgeable about what their watches are worth and they are necessarily careful in protecting them when being worn and when not being worn. Thus, I would surmise this community would have a lot less likelihood of having a claim than the general public. But, I admit I’m speculating :-) Sent from my iPad using Tapatalk
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14 December 2020, 01:15 PM | #112 | |
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Quote:
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19 December 2020, 01:49 PM | #113 |
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I was playing around on the site, adding and subtracting watches, and there seems to be a bit of variability of cost (I assess on % of insured value) based on watch and value.
Question for folks, do you insure your entire collection or just certain pieces? I have a growing collection, but only one that has dramatically increased in value. Most of my watches are in the "nice to wear, but a little quirky" category or just classics. I have Rolex Sub 16610, GMT II 16710, a pre-moon Speedy with a 321 movement, and a Silver Snoopy (45th) Speedy. That last one is the most valuable in my collection, by far. |
30 January 2021, 08:07 AM | #114 |
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My Jewelers Mutual policy is up for renewal and I'm going to take my watches off my policy and start a new policy with Chubbs via Hodinkee. Am paying 1.7% right now with JM but will be ~1.2% of insured value w/ Hodinkee. Wife's jewelery will stay with JM though
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30 January 2021, 02:08 PM | #115 |
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I went with Hodinkee (Chubb) for the simplicity. I liked my insurance company before but it was a pain in the butt to get a watch added. I spent so much of my time getting the right paperwork submitted.
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26 December 2021, 01:09 AM | #116 |
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I’m paying nearly $17 per $1000 of coverage.
Wanted insurance for 2022 while I look at other coverage. |
26 December 2021, 09:35 AM | #117 |
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I just insured 3 watches.
Not an unreasonable premium. You cannot be too careful, IMHO |
30 December 2021, 05:39 AM | #118 |
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JM was being difficult when trying to add an AP RO this summer (wanted photo proof, which I uploaded, then they wanted to review the policy which was taking upwards of a week). Decided to shop around in the interim and found that Hodinkee was slightly cheaper, and also quicker to add.
The other difference it seems, Hodinkee/Chubb will send over a cheque when a claim is processed, whereas JM wants you to go find a replacement watch, and they pay the seller, which seems to work fine if you're dealing with an AD or retail POS but what/how do they pay if you're trying to buy from eBay or C24? |
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