closing tag is in template navbar
timefactors watches



TZ-UK Fundraiser
Results 1 to 36 of 36

Thread: Watches and Home Insurance

  1. #1
    Craftsman
    Join Date
    Aug 2012
    Location
    Lahndan
    Posts
    477

    Watches and Home Insurance

    Hi all

    A recent purchase has taken my total for watches / jewellery just above £20k and my current home insurer has now told me that I will need to get a fixed safe, which I would prefer not to do at the moment.

    Is this pretty standard across insurers or is it worth me shopping around for an Ins. Co that has a less conservative approach? Any recommendations?

    Thanks all




    Roy

  2. #2
    Craftsman
    Join Date
    Jan 2017
    Location
    Glasgow
    Posts
    638
    Shop around, £20k shouldnít trigger a safe requirement - for context that safe being installed will likely cost £750+ for purchase and fitting

    Just shop around, that limit shouldnít be an issue


    Sent from my iPhone using Tapatalk

  3. #3
    Master
    Join Date
    Mar 2016
    Location
    Glasgow
    Posts
    5,259
    I had to shift to marks and Spencers home cover in the summer because my current insurer were changing terms.

    Iirc marks covered individual items up to £15k without being specified and a total of around £50k+ as standard.

    I had to pay about £100 more per year than the previous insurer, but I got a £40 national garden centre voucher and I now had adequate cover.

    Sent from my CLT-L09 using TZ-UK mobile app

  4. #4
    Master
    Join Date
    Jul 2012
    Location
    Bristol
    Posts
    1,702
    Quote Originally Posted by therooster View Post
    Hi all

    A recent purchase has taken my total for watches / jewellery just above £20k and my current home insurer has now told me that I will need to get a fixed safe, which I would prefer not to do at the moment.

    Is this pretty standard across insurers or is it worth me shopping around for an Ins. Co that has a less conservative approach? Any recommendations?

    Thanks all




    Roy
    Not sure if standard across the board, but certainly is the same with Esure (who Iím with) I made arrangements to take out a safe deposit box in a bank, but was told they wouldnít insure for this, so ended up getting a rated safe. Cost me around £250 and took about 1/2 hour to fit to both the floor and wall (it helps Iíve got all required tools to do the job)

  5. #5
    Grand Master MartynJC (UK)'s Avatar
    Join Date
    Dec 2008
    Location
    Lagoa, Portugal
    Posts
    11,179
    Blog Entries
    20
    Aviva




    Martyn
    "Time is an illusion, lunchtime doubly soĒ. HHGTTG

  6. #6
    Craftsman
    Join Date
    Feb 2017
    Location
    A mile or two outside of London
    Posts
    274
    Quote Originally Posted by stefmcd View Post
    I had to shift to marks and Spencers home cover in the summer because my current insurer were changing terms.

    Iirc marks covered individual items up to £15k without being specified and a total of around £50k+ as standard.

    I had to pay about £100 more per year than the previous insurer, but I got a £40 national garden centre voucher and I now had adequate cover.

    Sent from my CLT-L09 using TZ-UK mobile app
    Another recommendation for M&S. As above individual items up to £15k, with a total of £50k for value for valuables and no requirement for a safe.

  7. #7
    Master
    Join Date
    Jan 2015
    Location
    Berkshire
    Posts
    1,173
    I can also vouch for M&S insurance. My brother also moved to them on my recommendation. They were excellent for him when he unfortunately had to make a (non watch related) claim.

  8. #8
    Apprentice
    Join Date
    Jan 2017
    Location
    London, UK
    Posts
    25
    Thanks for sharing M&S home insurance guys, mine is just coming up for renewal and with the appreciation of some of my pieces I will most certainly be over the 20k limit too.

    Sent from my Pixel 6 Pro using Tapatalk

  9. #9
    Master
    Join Date
    Dec 2014
    Location
    Unknown
    Posts
    3,998
    Blog Entries
    1
    Quote Originally Posted by MartynJC (UK) View Post
    Aviva




    Martyn
    Iím with them. Wouldnít recommend if you ever need to claim.

    Iíll not be renewing.

  10. #10
    Master
    Join Date
    Jun 2015
    Location
    Edinburgh
    Posts
    2,613
    Blog Entries
    1
    Quote Originally Posted by Montello View Post
    Iím with them. Wouldnít recommend if you ever need to claim.

    Iíll not be renewing.
    Same here, expensive, argue the toss over everything. My father actually worked for Commercial Union which eventually ended up in Aviva and got decent service and discount because he was ex-staff but as soon as he left us and it was my mother only they bumped premiums and argued over every little thing. We took her elsewhere.

    I'm moving to M&S next renewal as similarly, our jewelry/watch total is getting high and by the time you've added most insurers additional charges and the need to specify items M&S are actually good value.

  11. #11
    Craftsman
    Join Date
    Jan 2017
    Location
    Glasgow
    Posts
    638
    Iím pretty sure M&S home insurance is provided by Aviva?


    Sent from my iPhone using Tapatalk

  12. #12
    Craftsman jonasy's Avatar
    Join Date
    Aug 2015
    Location
    London
    Posts
    740
    The flip side of watch hyper inflation Ö

  13. #13
    Craftsman
    Join Date
    Feb 2017
    Location
    A mile or two outside of London
    Posts
    274
    Quote Originally Posted by peterdo View Post
    Iím pretty sure M&S home insurance is provided by Aviva?


    Sent from my iPhone using Tapatalk
    Just checked and you are correct........ "M&S Home Insurance is underwritten and administered by Aviva Insurance Limited"

  14. #14
    Grand Master Onelasttime's Avatar
    Join Date
    Oct 2014
    Location
    Everywhere, yet nowhere...
    Posts
    11,384
    Iím moving next month so needed to insure the new house and transfer over existing policy.

    I thought I might as well revalue the collection at the same time so looking at recent Rolex prices I gave existing average values. LV have now stipulated I need a burglar alarm.

    Iíve got 28 days from when we move in. Bugger.

  15. #15
    Master
    Join Date
    Dec 2014
    Location
    Unknown
    Posts
    3,998
    Blog Entries
    1
    When I renew I will leave the awful Aviva I’m going back to the NFU. Which will be this March.
    Last edited by Montello; 16th January 2022 at 09:35.

  16. #16
    Craftsman
    Join Date
    Sep 2015
    Location
    Surrey
    Posts
    912
    Try Halifax, they were best for me. Pretty sure it covers £25k away from home

  17. #17
    Craftsman
    Join Date
    Jan 2017
    Location
    London, UK
    Posts
    280
    Can anyone recommend and providers for high value single pieces? I currently have my blue overseas on my house insurance as a named item for 20k and also insured out of the house, but obviously with the recent price movements 20k now represents less than 50% of market value going by chrono24 prices

    Sent from my SM-G991B using Tapatalk

  18. #18
    Craftsman
    Join Date
    Aug 2012
    Location
    Lahndan
    Posts
    477
    Thanks guys, this is very helpful. I am currently with eSure but sounds like M&S or Halifax will be the way to go. I'll do some research.

  19. #19
    Master Andyp1973's Avatar
    Join Date
    Oct 2013
    Location
    Derbyshire
    Posts
    1,331
    Weíre currently with Esure as well and after my last watch purchase they also stipulated that I would need install a safe. I bought the correct rated one for £250 and installed it myself in less than half an hour. It does give price of mind but Iíll be looking to move when it comes round to renewal time.

    Iíll take a look at M&S as well.


    Sent from my iPhone using Tapatalk

  20. #20
    Craftsman
    Join Date
    Feb 2020
    Location
    Bristol
    Posts
    270
    Quote Originally Posted by therooster View Post
    Thanks guys, this is very helpful. I am currently with eSure but sounds like M&S or Halifax will be the way to go. I'll do some research.
    I'm in a similar position, so let us know how you get on with the research - that would be v. helpful.

  21. #21
    Craftsman
    Join Date
    Oct 2013
    Location
    Norfolk UK
    Posts
    494
    Quote Originally Posted by Andyp1973 View Post
    Weíre currently with Esure as well and after my last watch purchase they also stipulated that I would need install a safe. I bought the correct rated one for £250 and installed it myself in less than half an hour. It does give price of mind but Iíll be looking to move when it comes round to renewal time.

    Iíll take a look at M&S as well.


    Sent from my iPhone using Tapatalk
    I have looked at getting a safe on and off. I thought the insurance approved safe had to be fitted by an 'insurance approved' installer to qualify. I would prefer to fit it myself.
    What did your insurance company say?

    Sent from my Pixel 6 Pro using Tapatalk

  22. #22
    Master huytonman's Avatar
    Join Date
    Jan 2009
    Location
    oxfordshire
    Posts
    2,691
    This happened to me 15 years ago with NFU, I bit the bullet and had a safe fitted. I then moved house, left the old safe behind and had a larger one with higher rating installed in the new place. It was back in 2013 but recall it cost in the region of £450 inc delivery and fitting from a safe manufacturer in Birmingham. Its not only used for watches and jewelry but important paperwork due to the fire rating. Im still with NFU by the way, never had a problem when ive claimed and its a very personal service, not the cheapest but good stuff usually isnt in my experience.
    Keith

  23. #23
    Master Andyp1973's Avatar
    Join Date
    Oct 2013
    Location
    Derbyshire
    Posts
    1,331
    Quote Originally Posted by noidea View Post
    I have looked at getting a safe on and off. I thought the insurance approved safe had to be fitted by an 'insurance approved' installer to qualify. I would prefer to fit it myself.
    What did your insurance company say?

    Sent from my Pixel 6 Pro using Tapatalk
    They just said to me that it must have the correct cash rating to what will go in it and must be secured to the floor or a supporting wall. Nothing about it being professional fitted.


    Sent from my iPhone using Tapatalk

  24. #24
    Craftsman
    Join Date
    Oct 2013
    Location
    Norfolk UK
    Posts
    494
    Quote Originally Posted by Andyp1973 View Post
    They just said to me that it must have the correct cash rating to what will go in it and must be secured to the floor or a supporting wall. Nothing about it being professional fitted.


    Sent from my iPhone using Tapatalk
    Ah ok thanks for the reply, I think I will contact them to ask for clarification.
    I can't see why they would insist on professional installation.

    Sent from my Pixel 6 Pro using Tapatalk

  25. #25
    Craftsman
    Join Date
    Jan 2017
    Location
    Glasgow
    Posts
    638
    When I was insured by LV, condition was that it was fitted by an approved installer, each will have their own requirements, worth checking


    Sent from my iPhone using Tapatalk

  26. #26
    Craftsman AKM's Avatar
    Join Date
    Jun 2007
    Location
    Yorkshire
    Posts
    924
    Quote Originally Posted by noidea View Post
    Ah ok thanks for the reply, I think I will contact them to ask for clarification.
    I can't see why they would insist on professional installation.

    Sent from my Pixel 6 Pro using Tapatalk
    If not installed correctly, they can just be ripped out of the wall quite easily. I don't know what your experience is and can only share mine.

    It all depends upon the type of safe and what surface it's being mounted to. For instance, the wall mounted ones are usually installed with a long through bolt that goes into an outside wall. The hole has to be drilled to the correct diameter and the debris removed. This works well on house bricks, but with other materials, such as breeze blocks or stone, you don't get as clean a hole or as good friction so may need to expoxy the bolt in, or choose a different location.

    Sent from my JSN-L21 using Tapatalk

  27. #27
    Craftsman
    Join Date
    Oct 2013
    Location
    Norfolk UK
    Posts
    494
    Quote Originally Posted by AKM View Post
    If not installed correctly, they can just be ripped out of the wall quite easily. I don't know what your experience is and can only share mine.

    It all depends upon the type of safe and what surface it's being mounted to. For instance, the wall mounted ones are usually installed with a long through bolt that goes into an outside wall. The hole has to be drilled to the correct diameter and the debris removed. This works well on house bricks, but with other materials, such as breeze blocks or stone, you don't get as clean a hole or as good friction so may need to expoxy the bolt in, or choose a different location.

    Sent from my JSN-L21 using Tapatalk
    I would be installing it on a concrete floor and drilling directly into that.

    Sent from my Pixel 6 Pro using Tapatalk

  28. #28
    Master spuds's Avatar
    Join Date
    Feb 2011
    Location
    Essex
    Posts
    1,881
    Quote Originally Posted by wuyangkid View Post
    Can anyone recommend and providers for high value single pieces? I currently have my blue overseas on my house insurance as a named item for 20k and also insured out of the house, but obviously with the recent price movements 20k now represents less than 50% of market value going by chrono24 prices

    Sent from my SM-G991B using Tapatalk
    GrovesJohnWestrup might be worth a look.

    They now insure my collection at about 75% of the premium I was paying.

    Quote Originally Posted by noidea View Post
    I have looked at getting a safe on and off. I thought the insurance approved safe had to be fitted by an 'insurance approved' installer to qualify. I would prefer to fit it myself.
    What did your insurance company say?

    Sent from my Pixel 6 Pro using Tapatalk
    Quote Originally Posted by peterdo View Post
    When I was insured by LV, condition was that it was fitted by an approved installer, each will have their own requirements, worth checking


    Sent from my iPhone using Tapatalk

    Yep Iíd recommend professional installation wether youíre insurers demand it or not.

  29. #29
    Craftsman AKM's Avatar
    Join Date
    Jun 2007
    Location
    Yorkshire
    Posts
    924
    Quote Originally Posted by noidea View Post
    I would be installing it on a concrete floor and drilling directly into that.

    Sent from my Pixel 6 Pro using Tapatalk
    That would seem to be ideal.

    Sent from my JSN-L21 using Tapatalk

  30. #30
    Craftsman
    Join Date
    Jan 2017
    Location
    Glasgow
    Posts
    638
    I had it installed professionally, had to drill into stone wall, but have to fit completely flush to wall and floor so need to cut skirting and remove carpet, cannot allow any leverage point at all.

    The safe is usually to complement an alarm I.e. if youíre broken into and the audible alarm goes off, the time it will take to open or remove the safe will be while all of that racket is happening

    Also worth speaking to the insurer, as if you gave a monitored alarm, they will increase the rating on the safe, for example if you have a £20k rated safe, they may give you an insurance rating of £100k if you have extra mitigants for theft


    Sent from my iPhone using Tapatalk

  31. #31
    Craftsman
    Join Date
    Aug 2012
    Location
    Lahndan
    Posts
    477
    I went with M&S - higher coverage both overall and for individual items, with materially the same premium.

  32. #32
    I recommend John Lewis specialist home insurance.
    Provided by covea.

  33. #33
    Craftsman Ascalon's Avatar
    Join Date
    Mar 2017
    Location
    Dublin
    Posts
    253
    This is definitely something I need to look into.
    I don't have any one piece that is high value, but collectively, there's a fair bit tied up in them.

  34. #34
    My renewal was up this month so went with M&S thanks to the recommendations. Very helpful on the phone and hopefully never need to call upon them.

  35. #35
    Try Direct Line Select / PremierÖ

  36. #36
    Grand Master Onelasttime's Avatar
    Join Date
    Oct 2014
    Location
    Everywhere, yet nowhere...
    Posts
    11,384
    Quote Originally Posted by l6sev View Post
    Try Direct Line Select / PremierÖ
    I tried Direct Line today. The quote made my eyes water.

    In fact, whenever I've tried DL for car or home insurance, they've been consistently a good few hundred quid more than anyone else. I wonder how they get any custom?

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Do Not Sell My Personal Information