Could i ask for an idea on what people are paying for a single watch policy please ?
Mine is covered slightly differently at the minute so im looking at going for a policy like the above. Instead of wearing my expensive type watches ad hoc im looking for a watch of max £8k but as a daily wearer instead.
I'm not London as im sure that will make a difference .
Thanks
I asked for a quote on standalone watch insurance on my Submariner when shopping around for house & contents insurance.
I was quoted £184.60 for worldwide cover from Highworth Insurance. They also wanted me to provide an up to date valuation which I’ve just had a price of £45 plus 1.2% of the total value.
In the end I added it to my contents insurance for £32. Coverage is worldwide, outside of the home up to £10k value. That’s with Halifax.
Sent from my iPhone using Tapatalk
So if you have your Submariner stolen, do the insurance company source you a replacement, or do you have to stick the money in the bank and join the magical waiting list?
Sent from my iPhone using Tapatalk
Hopefully I’ll never have to find out. I’d expect the money in the bank and then go shopping for another 16610 via certified pre owned. Alternatively I might just have a couple of good holidays insteadOriginally Posted by RobDad
Sent from my iPhone using Tapatalk
Sounds like a plan! - I was just curious if the insurance company has to replace like for like (if it was a current model) whether they can just get a replacement direct from Rolex. I am certain the waiting lists are 100% marketing and nonsense and this might expose that!
Sent from my iPhone using Tapatalk
When I queried this with my insurer (NFU home insurance), they told me they would try to source a replacement for me using the original source jeweller in the first instance, if that jeweller didn't have availability it would then be requested from their approved jeweller locally, if still no availability they would offer the current RRP as a cash settlement.
It sounds like you only own the one expensive watch (i.e. your £10k outside the home cover is for a single named watch, not a general allowance for use against any of the your several expensive watches)? I used to insure on my home insurance, but that boat sailed once I got above the £50k level, and sailed again when I bought 2 Patek. First world problems indeed. So, I now just self insure and arm myself to the teeth!
Have my collection (3 Tudors) individually noted under my contents insurance and covered for AD and away from the house. Worked out at roughly £35 on top of my quote (overall value £8k watches). With no additional extras needed (safe etc).
However this was prior to the recent 10% price increase.
Ripe insurance - were a specialist (Aviva write it) jewellery & watch insurers I found online. They provide AD and World wide cover, easy to get a quote & reasonably priced. Friend used this for his IWC purchase (watch at £12k) and said not that expensive
Sent from my iPhone using TZ-UK mobile app
Potentially not the best solution but I decided the Sub was worth the extra as they’re so recognisable. I also used to wear it the most. Everything else I have nowadays is sub £5k value with the exception of my Explorer. So I’d be comfortable with the limits imposed by Halifax
I tend to be careful mostly and, touch wood, have never needed to claim.
Sent from my iPhone using Tapatalk
Why not consider M&S content insurance where you insure anything valuable up to a certain price. For example, your mobile, wife bag, watch, ring all get insured up to let's say 10k. You don't have to name the watch or any other valuable items. In this way you don't pay for 1 valuable item (nearly a watch) but anything of that value.
Just a thought.
Sent from my SM-S921B using Tapatalk
This. I’m with M&S and for me it’s been a brilliant policy. Max of £15k for any one item, max £50k for total of high value items, no need to declare individual items under those limits, no requirement for annual valuations, new for old. Obviously if the total value of my watch collection + the other half’s jewellery exceeded £50k then it wouldn’t work.
Simon
I assume with m&s everyone ticks the away from home box? Adds about £180 for 10k value.. but got to be worth it!
Just bear in mind that if you have separate home and contents insurance, but insure the watch standalone, you might still need to notify the home and content insurer that you own it even though insured elsewhere, as it could affect their risk rating.
A few years ago I had my Rolex Sub ND stolen off my wrist (Barcelona in 2014), the insurance asked if I wanted the cash equivalent or a new replacement watch. I opted for the watch. They sourced one for me (from a dealership)
Later I sold it on SC and it was difficult to shift at 4K (below retail at the time). Those were the days.
Last edited by MartynJC (UK); 12th January 2025 at 09:43.
“ Ford... you're turning into a penguin. Stop it.” HHGTTG
We’ve done exactly this for the past three years. Works very well.
Sent from my iPhone using Tapatalk
Maybe that's normal, but seems totally nuts to me. Would think it's a conflict of interest if their fee is directly correlated to how much they value the item at.
Posting Permissions
Reply With Quote
