Dedicated Watch Insurance...

[TheOversteerLever]

My Rolex Submariner 116610LV has always been added onto my home insurance and covered for accidental damage, loss and theft, including worldwide cover.

Admiral are now taking the piss with their price so I'm looking to insure it elsewhere.

Protect Your Bubble are quoting £11.50 per month for the same cover as Admiral, with no excess.

Any recommended companies who you've used/use?

Cheers

[TheOversteerLever]

Just realised that Protect Your Bubble will only insure me if the watch was bought in the last 5 years. Ripe Insurance don't even ask and there's no mention of it in their policy terms and conditions. They're quoting £12.44 per month, with no excess.

Seems reasonable to me!

[dc2rr07]

Nearly £150 a year to insure a watch the world has gone mad

[TheOversteerLever]

I didn't think it was too bad to be honest, considering the level of cover.

Don't most people bother with insurance then?

[Nick67]

dc2rr07 said:

Nearly £150 a year to insure a watch the world has gone mad

Well if you have a collection of say 4 watches each worth £6k, that is not bad value, the bottom line is if you buy nice/expensive things, expect to pay to cover on insurance whilst you are out and about.

I have just been through this exercise both with watches and cycles, needing cover away from the home worldwide, I used Pedalcover https://pedalcover.co.uk/, who were able to cover the various items I had and include an excess protection policy.

No connection with the company, but thought they were very good, the insurance is with AXA

[OGR4M]

I’m with esure for my home insurance, buildings and contents, new for old accidental blah etc, including a no date sub and a (now departed) Tudor BB, came to roughly £170.

Small house though, and the watch is worth only about 2 thirds a hulk so there’s a lot of variables to consider. £150 just for one watch seems steep to me (I wouldn’t be saying that if mine got nicked though...)

[eyebeebe]

Nick67 said:

Well if you have a collection of say 4 watches each worth £6k, that is not bad value, the bottom line is if you buy nice/expensive things, expect to pay to cover on insurance whilst you are out and about.

I have just been through this exercise both with watches and cycles, needing cover away from the home worldwide, I used Pedalcover https://pedalcover.co.uk/, who were able to cover the various items I had and include an excess protection policy.

No connection with the company, but thought they were very good, the insurance is with AXA

To me that would be cheap. I pay 1% of cost or agreed value for cover inside and outside the home for loss, theft, accidental damage etc. With no need for an specific security measures like safes, alarms etc. Well worth it to me for piece of mind and being happy to wear a nice watch where I want to within reason. Excess is 10%.

[anonymous-user]

I don’t insure mine. It works out the same cost to rent a safe deposit box which I find the more useful option. I tend to wear a watch for about a month then a trip into the city to do a swap, grab a bit of lunch, drop in on the watch shops etc.. makes a nice day. So it is quite convenient plus I have have somewhere to store important documents, computer backups and the like.

[Nick67]

Hang On said:

I don’t insure mine. It works out the same cost to rent a safe deposit box which I find the more useful option. I tend to wear a watch for about a month then a trip into the city to do a swap, grab a bit of lunch, drop in on the watch shops etc.. makes a nice day. So it is quite convenient plus I have have somewhere to store important documents, computer backups and the like.

Most house insurance will cover the watch whilst in the house, the reason why I took out the above insurance was to cover the watch whilst away from the home. I don't fancy being a victim of a mugging and loosing £6k or coming a cropper and accidentally damaging the watch, could easily happen in a slow speed shunt, which is also covered.

[dc2rr07]

Nick67 said:

dc2rr07 said:

Nearly £150 a year to insure a watch the world has gone mad

Well if you have a collection of say 4 watches each worth £6k, that is not bad value, the bottom line is if you buy nice/expensive things, expect to pay to cover on insurance whilst you are out and about.

I have just been through this exercise both with watches and cycles, needing cover away from the home worldwide, I used Pedalcover https://pedalcover.co.uk/, who were able to cover the various items I had and include an excess protection policy.

No connection with the company, but thought they were very good, the insurance is with AXA

It was not for four watches though it was for one, house insurance covers valuables away from home so I am sure the OP could get a better deal on their house insurance, obviously people have different disposable income but it just seems excessive IMHO.

[Tony1963]

In my experience, every insurance company will happily add almost anything to the cover, inside the house or away. That’s how they make a living!
Ok, I don’t live anywhere near a nasty, rough inner city, but I can’t imagine it being a problem getting cover.

[Jag_NE]

I have buildings and contents with cover for an 8k watch and it was about 220 quid for the year, watch covered away from the home, Tesco insurance. I think it has accidental damage on the buildings and contents too.

[Slagathore]

I've read a few times on here where people have had an insurance payout, but it's vouchers for a high street jewelers.

That's the main reason I would get dedicated watch insurance and make sure they will actually replace the watch you lost.

TH March are expensive, but I believe they will replace the watch or payout and don't give vouchers.

[matjk]

I added mine onto my home insurance and the price actually went down an insurance first for me . I only pay something like £22 a month for home insurance and it’s a good policy with NFU , watch replacement cost is about £5k

[Meeten-5dulx]

I'm looking at this.
Home insurance renewal comes in next month (Direct Line Insurance Plus) as well as a new Kermit.
The 'street' value of the watch is above their individual item limit (£7.5k), so I need a decent home insurance that will cover it, or a separate policy.

Any suggestions welcome as I know the replacement value is considerably more than the limit that DL apply.
Not nec looking for a race to the bottom in terms of price as I am wanting a reputable company in case it does go Pete Tong, but also, not looking to be taken for a mug.....

[Parsnip]

We have always been in the region of £200-£300ish a year for home and building insurance (previously Direct Line for years, now Nationwide) with a couple of named bits of jewelry and a few named bicycles - in and out of the home for damage and theft. The piece of mind knowing that if something gets nicked, lost or damaged is a no brainer.

The one claim I have had to make was for damage to my (not a named item) Ball (fnarr) when I dropped it on a ceramic floor - £200 excess for a new crystal, case and a service - a bargain IMO. Direct Line could not have been more helpful.

I have never bothered looking at specific watch insurance because the home insurance covers me (same with bicycles I guess) - have you tried shopping about for new home insurance quotes?

[Meeten-5dulx]

Parsnip said:

I have never bothered looking at specific watch insurance because the home insurance covers me (same with bicycles I guess) - have you tried shopping about for new home insurance quotes?

Will have to search out policies that have a higher individual item cover.
DL have a 'Select' option, but was going to see what else was out there.
Therein lies the call out to the PH Watch massive....

[Parsnip]

Meeten-5dulx said:

Parsnip said:

I have never bothered looking at specific watch insurance because the home insurance covers me (same with bicycles I guess) - have you tried shopping about for new home insurance quotes?

Will have to search out policies that have a higher individual item cover.
DL have a 'Select' option, but was going to see what else was out there.
Therein lies the call out to the PH Watch massive....

I think the Nationwide cover is up to £5k (I would need to check, could be £2.5k, I know it is less for bicycles, I think £1k) before you need to name items - I can't remember if there is an upper item limit.

From memory with Direct Line, we had the basic cover option, but with a few things named - didn't need all the bells and whistles that the "select" cover offered as I don't care about some things getting nicked, damaged or lost - but for the named, high value items I would care a lot if they got nicked, damaged or lost.

Shop about and play around with the quotes - in our case we have plenty of relatively low value stuff with a few big ticket items (watches, rings, bicycles etc.) that need a bit more thought - having a relatively low level of cover, but with enhanced cover for a few things is the right balance for us.

[Arranguez]

I use eSure although they do demand a safe once you go over a certain value. Pricing is about £400 all in for house and accidental, insuring the watches outside the home too.

[Lotobear]

I've just got our annual home policy renewal through from NFU which comes to a total annual premium of £450.67 pa.

Wifey's bi metallic Rolex Oyster is declared on it at a value of £7,500. The annual premium portion for the watch is £76.79 (covered anywhere)