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Old 20 March 2018, 09:34 PM   #31
1st amg
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I am in Canada and that is way to much for that watch. I pay around 1% of the value of the watch per year. So for that watch you own, it should be anywhere from 100-130/month.
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Old 20 March 2018, 09:49 PM   #32
JDKToronto
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Just insured my new BLNR for full replacement. JMutual did it.
$140.00 per year Canadian.
Good peace of mind.
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Old 20 March 2018, 09:52 PM   #33
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Originally Posted by gtdoeslife View Post
I've been quoted 270$+tx per year to insure my SubC date for full replacement value. I'm hesitating to insure it, or not. That is a very hefty price for only 1 watch... I always have my sub on my wrist, even when I go at the gym.

Talking about gym, I went there this afternoon and while riding the bike somebody started using the bike on my left and really started staring at my watch. At this moment I thought again hmmm maybe I should get it insured... I don't want to have to fight for a watch

I know that this has been talked about many many times here on TRF. What's your input on this? Keep in mind that I always have my watch on, while working, training, going out with friends, etc...

Thanks in advance
That seems crazy high. I pay 84/year for full replacement value on a ND Sub with no deductible.
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Old 20 March 2018, 09:55 PM   #34
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I pay 1% of it's value per year as an addendum to my homeowner's policy. That price is very high. But you should absolutely insure it
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Old 20 March 2018, 10:10 PM   #35
Heynow1
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I think USAA is only available for military members and families.
This is true, but if you have anyone in your family that has served at any time now or in the past, you should be able to get in. They are a great American company. I can not say enough about them. I have our jewelry with them as well. Do know how much our policy is LOL, ill check, better late than never.......
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Old 20 March 2018, 10:14 PM   #36
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That's a lot less money than my three dogs!
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Old 20 March 2018, 10:24 PM   #37
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I insure all mine. I bought at separate policy from my home owners. I just didn’t want them on there. I use jewelers mutual. It’s about 1.25% of the insures value. Zero deductible. Literally covers just about everything.


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Old 20 March 2018, 10:32 PM   #38
904VT
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Probably someone just admiring your watch at the gym. Insurance in general isn't a bad idea though
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Old 20 March 2018, 10:37 PM   #39
One Ping Only
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The peace of mind is worth it, but I’d shop around for a better rate.
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Old 20 March 2018, 10:51 PM   #40
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Yes, insure, but find a better price
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Old 20 March 2018, 11:01 PM   #41
tng11
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Canadian rates tend to be higher than the US. That said, that sounds too high.

Personally, I'm with TD Meloche Monnex under their Platinum Plus plan. They offer blanket coverage on jewellery and watches up to $50,000, and the additional for that upgraded feature worked out to about 0.5%/year assuming the full $50,000 was insured.
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Old 20 March 2018, 11:17 PM   #42
torrente
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I live in Panama and I have recently quoted to insure specific pieces as or house general insurance only covers up to 3,000$ in house and up to 1,000$ outside, the quote that I have received for insuring specific watches with a total worth of 80,000$ is 3,200$/year :-( . It seems that or we are living in a very dangerous country (I do not have that feeling) or there is a lot of fraud with this insurance (maybe) or that insurance companies really have a huge margin on this (probably).
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Old 20 March 2018, 11:20 PM   #43
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Considering I lost mine and had it replaced by insurance, no brained for me to insure all our watches in my household.
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Old 20 March 2018, 11:41 PM   #44
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Im insuring a few things within the next week. 2 watches for myself, and 2 rings and watch for the wife and even though homeowners is a bit cheaper I am doing it through JM instead. Friend of mine is an agent with Allstate and recommended it this way. If making a claim in future for anything this way it does not reflect on your homeowners. NY insurance carriers love the high premiums and look for ways to make them even higher or a reason to drop you.
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Old 20 March 2018, 11:55 PM   #45
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Originally Posted by liboozers View Post
Im insuring a few things within the next week. 2 watches for myself, and 2 rings and watch for the wife and even though homeowners is a bit cheaper I am doing it through JM instead. Friend of mine is an agent with Allstate and recommended it this way. If making a claim in future for anything this way it does not reflect on your homeowners. NY insurance carriers love the high premiums and look for ways to make them even higher or a reason to drop you.
As a claims manager for nearly 36 years, your agent is not only a wise man, but very honest and clearly a good friend.
He could very well add the floaters for you and make extra money off the extra premium but he gave you sound advice. Best to keep that jewelry insured separately. A claim on it will not impact what is already a volatile homeowner insurance market, just about all over the country.
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Old 20 March 2018, 11:55 PM   #46
Romeomikehotel
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Insure it.
I can walk down the shadiest streets in town with my shiny watch on and not give a damn. Someone takes it, nbd I get a new one.
It’s worth the peace of mind.
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Old 21 March 2018, 12:08 AM   #47
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Just make sure your policy covers mysterious dispearence.

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Old 21 March 2018, 01:11 AM   #48
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Just make sure your policy covers mysterious dispearence.

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No homeowner policy does. They all use a standardized form. All homeowner policies provide coverage for named perils only (fire, theft, lightning, etc.) and that is not one. Only by endorsement by adding a floater.
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Old 21 March 2018, 01:17 AM   #49
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No homeowner policy does. They all use a standardized form. All homeowner policies provide coverage for named perils only (fire, theft, lightning, etc.) and that is not one. Only by endorsement by adding a floater.
Yes we have it on homeowners but it does cover mysterious disappearance.

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Old 21 March 2018, 01:18 AM   #50
DZA3000
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As a claims manager for nearly 36 years, your agent is not only a wise man, but very honest and clearly a good friend.
He could very well add the floaters for you and make extra money off the extra premium but he gave you sound advice. Best to keep that jewelry insured separately. A claim on it will not impact what is already a volatile homeowner insurance market, just about all over the country.


anyone other than JM insure watches? ive been having a hard time finding insurance and JM i think didn't want to insure me because of my travels
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Old 21 March 2018, 01:28 AM   #51
123joule
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To piggyback on this insurance thread....

Are people generally insuring their PM Rolexes for full MSRP replacement cost or for gray/ AD discount cost?

For example, insure a Platona for $75K or $55K, or a yellow gold sub for $34K or $26K?
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Old 21 March 2018, 01:47 AM   #52
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I am thinking of going with Jewelry Mutual. It seems like their annual premiums are around 1.5% of the declared value of the watch. I am using the current replacement value (MSRP) of the watch or the appraised value.
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Old 21 March 2018, 01:49 AM   #53
123Blueface
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anyone other than JM insure watches? ive been having a hard time finding insurance and JM i think didn't want to insure me because of my travels
There is also Gem Safe. I have no experience with them.
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Old 21 March 2018, 01:51 AM   #54
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Add to homeowners insurance if you have it.

If not, or over maximum allowed, insure with a specialist.
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Old 21 March 2018, 01:53 AM   #55
vladamir15
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Find another insurer. They are charging way too much. But still make sure to insure your watches
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Old 21 March 2018, 01:54 AM   #56
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Originally Posted by 123joule View Post
To piggyback on this insurance thread....

Are people generally insuring their PM Rolexes for full MSRP replacement cost or for gray/ AD discount cost?

For example, insure a Platona for $75K or $55K, or a yellow gold sub for $34K or $26K?
State Farm asks for an appraisal letter and copy of receipt from the jewelry store or shop. I’d imagine they go off of that
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Old 21 March 2018, 01:56 AM   #57
123joule
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State Farm asks for an appraisal letter and copy of receipt from the jewelry store or shop. I’d imagine they go off of that
Makes sense, thanks!
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Old 21 March 2018, 02:04 AM   #58
cchris
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If you are asking, you should go with your gut and insure it! Small price to pay for peace of mind. If you never give it or the price of your watch a thought, self insure.
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Old 21 March 2018, 09:26 AM   #59
gtdoeslife
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Thank you everyone for your input. I insured it. For 13 bucks a month, I got a blanket coverage that covers up to 50k$ in jewels, bicycles, collections, paintings and stuff like that. 500$ deductible. I didn't have to provide an appraisal but will have to prove my loss in the event that I do a claim with them, in which case I will use the appraisal.

So I'm now covered for loss, mysterious disappearance, theft, fire, etc...

Definitely buys me peace of mind !
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Old 21 March 2018, 10:02 AM   #60
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another yes
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