Reply With QuoteI insure myself. It's easier & I don't trust anybody else!
My home insurance (AVIVA) have an upper limit on single items of £10000.
I’ve got a couple of Rolex’s that exceed this and are no longer covered.
Who would you recommend for watch stand alone insurance? Thanks
I insure myself. It's easier & I don't trust anybody else!
I stopped insuring watches years ago (apart from transit insurance following sales). Bought a BOXX fireproof gun safe direct from the manufacturer for valuables storage. When I did insure my watches as part of home contents 'all risks', some insurers required professional valuations which cost ££significant.Originally Posted by ODP
Decided it was easier to 'self insure' but advised my insurer that my safe contains uninsured watches to value of ££specified amount .... same with cameras and lenses. Over a 20 years' period I've saved £'000s in insurance premiums.
The non-insured values for watches and cameras were agreed by the insurance co. underwriters – to avoid any 'average' being applied to actual insured contents values in event of an insurance claim for regular household items.
dunk
"Well they would say that ... wouldn't they!"
M&S have a £15k single article limit.
Maybe cheaper to just change contents insurer completely?
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Aviva can go over £10k but will apply restrictions unless you install a safe. I’m with Aviva myself, so I know from personal experience.
Their preferred safe supplier is https://www.insafe.com/ Im currently insured with restrictions
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Superb service and remarkably knowledgable about our silly hobby.
https://www.directline.com/select-premier
0345 246 8859
I find M&S excellent for coverage/price point. There premium option covers up to £50k contents per claim with maximum of £15k per item.
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Should you wish to claim please be aware that your valuation, perceived valuation or market valuation is irrelevant.
Aviva / m&s use a company called hallmark. Hallmark in turn offer valuations far below market value. Hallmark are part of WOS group.
Example patek 5167a values as we know far exceed retails. Hallmark valued the watch at below retail.
This was also the case for 5 other Rolex professional models. Roughly 50% of their market value and all sub retail.
I requested that the watches instead be replaced. We are looking at a multi year process for this to happen. I have been informed that they will simply be unable to replace the patek.
Please read the small print. Be well informed and ensure you opt for the best policy from the best insurer. Also check each renewal as policy terms are often changed without prior warning. M&S used to cover up to £25k for example. This was the reason we opted for them a number of years ago.
Apologies for the waffle but do hope it is informative in some way.
Self insurance for me. [I'm a multi black belt and can out swim anyone (as long as I'm near some water) - and I don't hang around risky places.]
M&S Insurance used to be with AXA but changed to Aviva a couple of years ago. I had buildings and contents with them and had to make a claim for buildings in the last year, Aviva's default position was to try and refuse the claim, then when that failed, pick over everything to try and reduce the payout (including whether cracked roof tiles needed to be replaced). I have no doubt that a claim for contents would receive a similarly response, which seems confirmed by HECTOR's response above. I won't be renewing with M&S because it is now an Aviva policy and will go to AXA direct.
I'm also looking to change provider for my contents insurance fairly imminently, so keen for any recommendations for decent UK insurers people may have.
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I’m of similar mind set. I make my own risk assessments & act accordingly.
Best bit is that I don’t have to argue the to$$ with myself 👌
I understand you have to advise your insurer as they see the high risk items as increasing the overall risk even if uninsured.
What insurer?
Your household contents insurer. You may not have one but thought it worth mentioning that anyone who has but 'self insures' their watches should check with the insurer (my insurer was very clear that not doing so left you under insured in the event of a claim).
Yeah, I don’t have a household contents insurer. I insure myself & make my own luck. Served me well for the last 20 years Not having to deal with them is worth a lot.
Good point worth making for those for which it applies though ��
Last edited by trident-7; 11th June 2023 at 20:53.
Seconded, I have all of my watches covered, tend to be much more flexible on requirement for a safe etc
Added a high value watch recently, was 35% of the price quoted for watch alone through TH March and without the crazy conditions
Monthly premiums are also 0%
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