Watch Insurance

[964boy]

As a newbie, where do you guys buy your watch insurance.

My small collection is listed on the home contents policy.

Good, Bad, what you think?

[clemenry]

Mine are also on the contents insurance, I'll think you'll find the general consensus on here is that that is best approach.

You do need to check the policy requirements, mine states that the watches either have to be in my possession (worn) or in a locked safe also worth checking whether there is an 'away from home' option else they would only be covered when they are in your home.

Adding items to the home contents insurance worked out much cheaper and were more flexible compared to some of the independent watch specific insurance policies I looked at

[MCFastybloke]

NFU as itemised individually with agreed values.

[smashie]

NFU as itemised individually with agreed values.

Me too

[R0bertb00th]

Mine are on my house insurance via M&S single item up to £10k out of the home covers me if something happened away from the house and a collective value of valuables in the home seems to be sufficient

[verv]

One is on house insurance as a single item that can be taken out (forget the technical term)
Two are specifically insured with TH March.
If you can get them on home insurance then that's great. I found that TH March premium was more than both my contents and car insurance put together. :-/

[plw]

Me too

and another, very helpful with additions mid year (no additional premium) too.

[Neilw3030]

On the contents insurance, itemised over £2500 with away from home.

[GeorgeFalconer]

Hiscox is good

[trident-7]

NFU as itemised individually with agreed values.

Is that NFU contents insurance with watches itemised or a watch only policy?

[jpjsavage]

Another vote for Hiscox if the value of your collection exceeds your home policy limits.

[MCFastybloke]

Combined household building and contents A number of high value items itemised Inc sporting equipment

Sent from my SM-G920F using Tapatalk

[trident-7]

Combined household building and contents A number of high value items itemised Inc sporting equipment

Sent from my SM-G920F using Tapatalk

Thanks

[legin]

Me too

And me

[NickRed71]

Home contents with John Lewis.

If memory serves I don't have to list any watch worth less than £5000. For watches worth more than £5k there is a bump in the premium.

[mycroft]

I have 17 watches and have had 4 outgoing and 6 incoming in the last 10 months. As a result there is no way I'll take out a policy that requires me to itemise every watch with pre-agreed values - I'd spend half my time amending the policy. I have ended up with an AXA contents policy that does not require me to identify individual items and covers high value items up to a collective maximum of £35,000 replacement value. There are also no special security requirements (i.e. a safe), either.

The M&S policy is also really good...

Hope this is helpful.

Simon

[JeremyO]

NFU as itemised individually with agreed values.

Aviva the same for watches over £1500. Items under £1500 do not need notification.

[964boy]

Wow, thanks guys for all your feedback, will do some more research on my policy. It's due for renewal January. It's with AA.

Collection
1. Rolex 14060M
2 Tag Heuer Carrera Lewis Hamilton Ltd. Edt.
3. Baume and Mercier Classima
4. Steinhart GMT Ocean 1

Thanks all

Hugh

[Mark lowman]

Not sure if this is true but I hear that Metro Bank can give you a safe box. Most banks are moving away from this. I'm going to check this out as it's very useful to know for when on holiday. It's one thing getting repaid out in insurance but would rather not have burglars pinching it in the first place.

[japester]

I need to get a valuation for my Omega PO to go on my contents policy - Will an AD or Boutique do this for me?
I've heard that some jewellers will charge 10% of the value to provide this. Is there any truth in that?

[GeorgeFalconer]

Wow, thanks guys for all your feedback, will do some more research on my policy. It's due for renewal January. It's with AA.

Collection
1. Rolex 14060M
2 Tag Heuer Carrera Lewis Hamilton Ltd. Edt.
3. Baume and Mercier Classima
4. Steinhart GMT Ocean 1

Thanks all

Hugh

you don't need insurance

[NickRed71]

I need to get a valuation for my Omega PO to go on my contents policy - Will an AD or Boutique do this for me?
I've heard that some jewellers will charge 10% of the value to provide this. Is there any truth in that?

Some jewellers and dealers certainly will charge. I went to Austin Kaye a while back, they charge £75 for the first watch and £15 for each thereafter. I'd try an Omega AD or boutique, preferably the place you bought it from, in the first instance.

[soapy]

Direct line home insurance for me its only individual items over £2500 I have to list [which is only my Nikon camera, not individual lens worth more all together]

it cost me an extra £14 to list a watch over £2,500 [worth £3,500] but then I didn't get the watch anyway,

it seemed very fair to me.

then its backed up with direct line travel insurance as well.

[Mrbarry]

I'm with admiral and have cover away from home, I had to provide insurance valuations for each watch I wanted covered. I will be moving next year because as a serial watch flipper it's not convenient. My only real high ticket watch (IMHO) is one I have no intention of selling truth be told though, the rest I could afford to loose even if it would sting a little.

[Joe.K]

T.H march are imho the best out there, I had to claim on watches and jewellery and they paid up quickly -cheque not vouchers- the loss adjuster was great to deal with, no stupid leading questions or obvious and intrusive prying. They aren't the cheapest but if $hit happens and you need to claim they are super helpful and on your side,
Joe

[ingenioren]

Hiscox is good

I would second that

[Deckard81]

Not sure if this is true but I hear that Metro Bank can give you a safe box. Most banks are moving away from this. I'm going to check this out as it's very useful to know for when on holiday. It's one thing getting repaid out in insurance but would rather not have burglars pinching it in the first place.

It is true, I've had one for the last 3 years. Reasonable monthly charges and peace of mind. Open 362 days a year. Not a bad bank either but I keep my money elsewhere.

[groyn]

^
Selfridges London also do safety deposit boxes, but there is a waiting list. I got mine this year after about 3 months waiting.

[Deckard81]

^
Selfridges London also do safety deposit boxes, but there is a waiting list. I got mine this year after about 3 months waiting.

May I ask how much they charge for what size?

[Dave in Wales]

Jura do watch insurance..

https://www.jurawatches.co.uk/pages/insure-my-watch

[groyn]

May I ask how much they charge for what size?

Here's their price list. I only needed the smallest option at £180 per annum, but that comes in 3 configurations (circled). It was £140 PA when I joined the waiting list, but the prices then went up They said it was their first price rise in years. I didn't check out Metrobank as there isn't one near me, whereas Selfridges is a 5 min walk and it's a good excuse to walk through the watch department en route to the boxes . Not cheap but the convenience works for me. How does it compare with Metrobank?

[Jaycee]

I need to get a valuation for my Omega PO to go on my contents policy - Will an AD or Boutique do this for me?
I've heard that some jewellers will charge 10% of the value to provide this. Is there any truth in that?

There is truth in this, some valuations work off a commission basis or a flat fee / whichever is higher.

Used to work for Ernest Jones, £55 for the first item valued, reduced rate i believe for additional items. No additional % costs


Sent from my iPhone using Tapatalk

[964boy]

you don't need insurance

Thanks for that.

Will save me a pound or two

[Parny1983]

Direct Line - do me a great deal with their Premium home insurance. All items up to £5000 don't have to be individually registered and you can have as many as you like. This covers most of my collection to date and I have a few which are individually registered over £5k. The premium is between £300-400 a year for premium contents insurance and you get Travel cover included!

[Vortex247]

I've just tried to add a new Omega Planet Ocean to my Direct Line household contents insurance policy.

The problem I'm having is that the watch either has to be on my wrist or in a safe. The safe has to have a cash rating of £80k and be fitted by a lock smith. If I take the watch off at night and put it beside me on my bedside table, it's not covered.

Is this normal practise for all insurance policies?

[leefowler]

T.H march are imho the best out there, I had to claim on watches and jewellery and they paid up quickly -cheque not vouchers- the loss adjuster was great to deal with, no stupid leading questions or obvious and intrusive prying. They aren't the cheapest but if $hit happens and you need to claim they are super helpful and on your side,
Joe

Another for TH March I have my buildings, contents and watches covered.

[Lauting]

I've just tried to add a new Omega Planet Ocean to my Direct Line household contents insurance policy.

The problem I'm having is that the watch either has to be on my wrist or in a safe. The safe has to have a cash rating of £80k and be fitted by a lock smith. If I take the watch off at night and put it beside me on my bedside table, it's not covered.

Is this normal practise for all insurance policies?

Normally this only applies to watches over a certain value for example with Hiscox if the watch is over £15k then the watch needs to be on you, in sight or in the safe.

[Mystery Scott]

Having looked at my insurance I'm wondering if the need for a safe may be to do with postcode crime statistics?


Sent from my iPhone using Tapatalk

[Toddy]

I've just tried to add a new Omega Planet Ocean to my Direct Line household contents insurance policy.

The problem I'm having is that the watch either has to be on my wrist or in a safe. The safe has to have a cash rating of £80k and be fitted by a lock smith. If I take the watch off at night and put it beside me on my bedside table, it's not covered.

Is this normal practise for all insurance policies?

My PO is insured through my house insurance but doesn't have to be in a safe as my house is classed as a "safe place". Also covered if I loose it, damage it or have it stolen while I'm out and about.

[Croftrock]

I have More Than home insurance which, like some others here, allows for watches up to £5000 and then you just name the ones above that. Each one pushes your premium slightly, naturally.


Sent from my iPad using Tapatalk

[watchcollector1]

Axa contents insurance - valuables cover up to £36000 in total and items under £12000 don't need to be declared.

[Watchaddict]

I have mine on contents and has to be itemised separately. For some that may not be viable due to the amount of incoming and outgoing traffic in their collection.

[meridian]

One is on house insurance as a single item that can be taken out (forget the technical term)
Two are specifically insured with TH March.
If you can get them on home insurance then that's great. I found that TH March premium was more than both my contents and car insurance put together. :-/

You may be aware already but you must notify both insurers of all your valuables,they need to assess the risk and won't pay out on any if you have a burglar attractive trinket you've not told them about.

[JasH]

Separate listing on my home policy for each watch means I am covered for loss, theft or damage when at home or wearing it outside. Well worth it.

Plus this means the value is additional to the normal contents cover for value.