Discussion
Just renewing my home insurance and tried to add my recently acquired Chopard MM with my other watches.
1) They want revised 'valuations' for all watches. It's a new for old policy so the relevance of this is questionable !
2) To insure the Chopard alone (value £4500) thay want £70.
I'm just interested how other people insure their watches and if you have to provide valuations ?
Cheers
Nat
1) They want revised 'valuations' for all watches. It's a new for old policy so the relevance of this is questionable !
2) To insure the Chopard alone (value £4500) thay want £70.
I'm just interested how other people insure their watches and if you have to provide valuations ?
Cheers
Nat
I tried to add my GMT Master II to my contents insurance a couple of weeks ago, the lady I spoke to at Direct Line insisted on a valuation before she would give me an indication of the revised premium. Went to a jewellers at the weekend and paid £25 for a valuation, called Direct Line back today and wasn't even asked for a valuation but was told I would need proof that the watch was worth as much as I said it was in the event of a claim. It increased my premium by a fiver a month and the replacement valuation is £5,600
AA do mine on the contents. Any watch over 5k as to be listed separately I have three of such. You do not have to send valuations I did. I think the cost went up about a tenner. All other jewelry and cheaper watches are covered in the general scheme of things which is up to 40k. The cost is about £245 a year
More importantly, who has had to claim rather than just pay the premiums, and was it an easy experience to get what you felt was fair. The reason I ask is I'm about to sort out our home insurance and travel insurance and would really like to get some recommendations from people that have actually made a claim!
I got the same thing and valuation had to be less than two years old. I have my speedmaster and the wife's Tiffany engagement ring covered.
I went into a local jewellers and said I'd just pay them for a valuation but got nowhere. However I am now covered with direct
Line who didn't require to see valuation and I set values.
Check the T&C's of them as I'll be honest I'm not 100% up to speed on what would be required in the event of a claim but seem to remember them telling me that for a repair they'd naturally send the items away. For replacement I'm sure they said you'd need 3 quotes for replacement like for like. Not sure how that works with something specific like the ring but that's my experience.
My speedmaster is the 50th anniversary edition so obviously I could look for 3 separate purchase costs.
I went into a local jewellers and said I'd just pay them for a valuation but got nowhere. However I am now covered with direct
Line who didn't require to see valuation and I set values.
Check the T&C's of them as I'll be honest I'm not 100% up to speed on what would be required in the event of a claim but seem to remember them telling me that for a repair they'd naturally send the items away. For replacement I'm sure they said you'd need 3 quotes for replacement like for like. Not sure how that works with something specific like the ring but that's my experience.
My speedmaster is the 50th anniversary edition so obviously I could look for 3 separate purchase costs.
Edited by ryandoc on Wednesday 18th July 21:21
Spice_Weasel said:
I have been with Hiscox for years now.
Watches, bikes and other items covered all in with the building and contents cover.
The problem with new for old cover is that with today's list prices, two or three decent watches can equate to £10k
I agree Hiscox are good been with them a few years, even agreed to drop general content amount and raise jewelry value for not much more.Watches, bikes and other items covered all in with the building and contents cover.
The problem with new for old cover is that with today's list prices, two or three decent watches can equate to £10k
Gassing Station | Watches | Top of Page | What's New | My Stuff