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14 July 2023, 08:09 AM | #1 |
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Join Date: Nov 2022
Location: USA
Posts: 82
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Insuring Watches
I wanted to get all of my watches insured through Hodinkee. Looks like a good service but was curious for watches with market prices lower than MSRP what should I insure them at? If a watch gets stolen/damaged really only want a replacement which they say they'll do so is it a waste of money to insure at a higher amount or just better to be safe?
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14 July 2023, 08:19 AM | #2 |
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Join Date: Mar 2017
Location: United States
Watch: Rolex and Patek
Posts: 10,735
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Whatever value you insure them for, unless the contract has a replacement provision, the insurance company will only pay "actual cash value" so over insuring never makes any sense. If the company will replace, at least insure for your MSRP on a watch still in production so the coverage is there for them to do that. On older pieces just get yearly current appraisals.
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15 July 2023, 09:30 AM | #3 |
"TRF" Member
Join Date: Jun 2019
Location: Philly, USA
Watch: PP
Posts: 550
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Hodinkee Insurance is excellent in my opinion. Additionally, quite easy to keep track on the app.
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15 July 2023, 11:09 AM | #4 | |
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Join Date: Aug 2010
Location: Basel
Watch: LF Sport & Pepsi
Posts: 953
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