Cost of ownership thoughts

[learningtofly]

Costs change though
Costs which were once reasonable and able to be justified can become more significant when things like insurance premiums mushroom.
Nothing wrong with taking stock at that point.
A bit like people with gas guzzlers .There may be a tipping point where they feel the car is no longer justifiable.
Nothing wrong with inviting musings on the subject I feel.

Yes, precisely. No response was required.

Similar boat here a couple of years ago Tony with spiralling insurance and requirements they requested.

For the last two years I have had a safe deposit box which costs approximately £300 per year with added insurance cover.

Content insurance at hove covers the two we wear out of the home.

Paul.

Added insurance through the bank, Paul?

[dickbrowne]

I’ve sold 9 vintage Rolex and Omega watches over the last 18 months or so. Given what your renewal is, my saving could almost add up to a decent mid-range Omega diver.

I think I’m feeling some sellers regret…

[aamaci]

Another thought, what about looking into the cost saving of taking a high voluntary excess, say £1,000, or more, across the entire policy? Use the policy as a "major losses only" one. Are you likely to make claims under £1k or can you afford to pay these out of your resources? This would remove the attritional loss risk from the insurer, which would make the risk more attractive and should reduce the premium significantly.

Maybe worth investigating...my entire buildings and contents cover with M&S is about £380 with £1k excess (although my watch collection will be significantly less value than yours OP).

A

[learningtofly]

Another thought, what about looking into the cost saving of taking a high voluntary excess, say £1,000, or more, across the entire policy? Use the policy as a "major losses only" one. Are you likely to make claims under £1k or can you afford to pay these out of your resources? This would remove the attritional loss risk from the insurer, which would make the risk more attractive and should reduce the premium significantly.

Maybe worth investigating...my entire buildings and contents cover with M&S is about £380 with £1k excess (although my watch collection will be significantly less value than yours OP).

A

That’s not a bad shout, actually. I’ll give them a call tomorrow and check what that does to the premium.

[Pitch3110]

Yes, precisely. No response was required.


Added insurance through the bank, Paul?

The box is with a jeweller Tony no banks near us vaults anymore. The insurance is just an added layer, I think the box is only covered up to £50k.

Paul