Is your watch insured?

[Atommad]

Do you bother?
I guess adding a watch as a valuable to the house insurance is most efficient way?
Typically what is the cost? Presumably it relates to the value / level of cover. so what about say a 5k watch.

Just asking in advance of considering a decent watch!

[RemaL]

I have my seamaster on my house insurance. most of my other watches are covered in my insurance up to £1500 Cost me about £15 a year extra

[dibblecorse]

I have both my Breitling and my RW Freelancer added to mine for 'All Risks' away from home, so loss, theft etc, added about £35 to my premium but means the £1500 limit doesnt apply and they will be replaced on a like for like basis with a new watch, hoping not to lose either though as both have sentimental value .....

[LooneyTunes]

Yes definitely - but we avoid a lot of the hassle associated with "named items" by using an insurer with a rather more generous than normal named item limit. Admittedly this probably costs more, but if you've got several watches and/or you like to change them from time to time, we've found it to be much simpler.

[Podie]

One thing to check with the insurer is what the cover actually entails.

Many will give you a card to use at Goldsmiths for the agreed value.

[Yetski]

LooneyTunes said:

Yes definitely - but we avoid a lot of the hassle associated with "named items" by using an insurer with a rather more generous than normal named item limit. Admittedly this probably costs more, but if you've got several watches and/or you like to change them from time to time, we've found it to be much simpler.

Could you please PM me details of this insurer.

Thanks
Dave

[toohuge]

Yes, one of mine has a separate policy, soon to be changed for my fiance's engagement ring to be included. It's not too expensive considering the worst case scenario.

Chris

[LooneyTunes]

Yetski said:

LooneyTunes said:

Yes definitely - but we avoid a lot of the hassle associated with "named items" by using an insurer with a rather more generous than normal named item limit. Admittedly this probably costs more, but if you've got several watches and/or you like to change them from time to time, we've found it to be much simpler.

Could you please PM me details of this insurer.

Thanks
Dave

No connection with them other than as customer so happy to say in public in case it is useful to others: it is Hiscox.

IIRC their named item limit is £7,500.

[phumy]

I have two Breitlings on a specified policy within my household policy as they are over the 1600gbp individual item limit, I think they are about 17gbp per year each, (New for Old) The Longines is covered under the individual item limit so no extra to pay for that one.

[Adrian W]

LooneyTunes said:

Yetski said:

LooneyTunes said:

Yes definitely - but we avoid a lot of the hassle associated with "named items" by using an insurer with a rather more generous than normal named item limit. Admittedly this probably costs more, but if you've got several watches and/or you like to change them from time to time, we've found it to be much simpler.

Could you please PM me details of this insurer.

Thanks
Dave

No connection with them other than as customer so happy to say in public in case it is useful to others: it is Hiscox.

IIRC their named item limit is £7,500.

Be very careful with Hiscox, I have used them for 15 years and am now looking around, they are restricting maximum unspecified values and have reduced the cover in outbuildings, I have asked them reputedly about the watches and even sent them a schedule, but have so far not received a definitive answer as to what level of insurance they are now offering, I am having to keep our pushbikes in the dining room as they are not covered in the garage.

They are slipping, they used to be very good, it all started going wrong when they started promoting their 505 direct policy as opposed to their 606 broker policy. If you use them ask some very pertinent questions.


I have recently been told that the best policy out there is from John Lewis!

[LooneyTunes]

That surprises me... I must confess I'm not sure which policy version we have, but it seems pretty comprehensive in terms of coverage - certainly wouldn't tolerate having to keep bikes indoors.

Useful tip on JL - will check them out come renewal, although I suspect that they might not be suitable in our case.

[Yetski]

Very useful info guys, will have to get them checked out, thanks.

[Spice_Weasel]

Adrian W said:

Be very careful with Hiscox, I have used them for 15 years and am now looking around, they are restricting maximum unspecified values and have reduced the cover in outbuildings, I have asked them reputedly about the watches and even sent them a schedule, but have so far not received a definitive answer as to what level of insurance they are now offering, I am having to keep our pushbikes in the dining room as they are not covered in the garage.

They are slipping, they used to be very good, it all started going wrong when they started promoting their 505 direct policy as opposed to their 606 broker policy. If you use them ask some very pertinent questions.


I have recently been told that the best policy out there is from John Lewis!

I agree having been with them for years. Service is not as good as it used to be.

[Spice_Weasel]

NeMiSiS said:

Yes all of them, but not on house policy.

NeM, can you PM me with the insurer name and no please?

[Gazzab]

My watch with a £5K new for old valuation put my contents up by £150 pa ! I live in a low risk area too.

[Zod]

Hiscox house insurance. No need to declare individual items unless the value is silly money.

[GWC]

My Cartier is a named item as they want to know anything over £3,500 bloody god job it is insured too as I had to claim for a lost one a few years ago.

[TonyHetherington]

Gazza - that sounds a lot!?

My £3.5k like for like on house insurance put the insurance up my £30 - and that covers theft away from house, losing etc.

[Adrian W]

Zod said:

Hiscox house insurance. No need to declare individual items unless the value is silly money.

As I posted above, that was most definitely true, however something has changed, before they specialised in HNW policies, and covered a disproportionate amount of high value items. Watches, jewellery, pictures etc. now they have reduced the cover on some items.

[Porkie]

Both my Daytonas are named on my house Policy with Directline for £7.5k each. Only cost £130 a year for worldwide loss and theft cover.
My other watches are all under £5k so didnt need to even name them they said.