Insurance Thoughts?
Discussion
Hello, I own an Omega Seamaster, professional Quartz watch. It's a 2010 model so no longer available (2264.50 module).
Just back from £400 worth of repairs, servicing and refurbishment. If It's insured ' New for Old' how will this work out if I have a claim? If its at all possible?
The prices seem to have more than doubled in 10 years for similar models.
Thanks for looking.
Just back from £400 worth of repairs, servicing and refurbishment. If It's insured ' New for Old' how will this work out if I have a claim? If its at all possible?
The prices seem to have more than doubled in 10 years for similar models.
Thanks for looking.
Edited by mickyh7 on Wednesday 27th January 13:25
mickyh7 said:
Hello, I own an Omega Seamaster, professional Quartz watch. It's a 2010 model so no longer available (2264.50 module).
Just back from £400 worth of repairs, servicing and refurbishment. If It's insured ' New for Old' how will this work out if I have a claim? If its at all possible?
The prices seem to have more than doubled in 10 years for similar models.
Thanks for looking.
They will give you a gift card for Goldsmiths or Ernest Jones to the value of the current model SMP.Just back from £400 worth of repairs, servicing and refurbishment. If It's insured ' New for Old' how will this work out if I have a claim? If its at all possible?
The prices seem to have more than doubled in 10 years for similar models.
Thanks for looking.
Edited by mickyh7 on Wednesday 27th January 13:25
The Rolex thing is not that relevant, the insurers have enough buying power to leap any waiting list... just think how much money they must spend per year.
My advice would be to look at your policy and see what it actually says, and if in doubt speak to your broker. I have couple of watches that would cost more to replace than list price, and they are insured for the higher value. I have never heard of insurers skipping waiting lists on behalf of customers, but i have not been involved in private client insurance for a few years, so things may have changed!
nikaiyo2 said:
mickyh7 said:
Hello, I own an Omega Seamaster, professional Quartz watch. It's a 2010 model so no longer available (2264.50 module).
Just back from £400 worth of repairs, servicing and refurbishment. If It's insured ' New for Old' how will this work out if I have a claim? If its at all possible?
The prices seem to have more than doubled in 10 years for similar models.
Thanks for looking.
They will give you a gift card for Goldsmiths or Ernest Jones to the value of the current model SMP.Just back from £400 worth of repairs, servicing and refurbishment. If It's insured ' New for Old' how will this work out if I have a claim? If its at all possible?
The prices seem to have more than doubled in 10 years for similar models.
Thanks for looking.
Edited by mickyh7 on Wednesday 27th January 13:25
The Rolex thing is not that relevant, the insurers have enough buying power to leap any waiting list... just think how much money they must spend per year.
Where the question gets more interesting is on discontinued watches, insurers cannot replace for new so ensure you have a recent valuation
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