How do you insure your 'discontinued' watches?
Discussion
It's that time of year again where my contents/house insurance is renewed. Not an issue previously as all my watches were names/specified individually and the values were near or fairly close to RRP.
This year, however, two of the watches have been discontinued and prices to replace them like for like on the grey market have literally doubled.
So I seemingly have 3 options. 1. Put them down valued at the cost to replace with the new model, 2. get them valued. 3. Go independent insurer just for the watches.
I spoke to Admiral (current contents provider and they said they would want me to get them valued and have the amounts verified. Not something I am against, a bit of a faff, but I guess worth it given the monies involved here. Having said that my premium shoots up from £220 (if I have them down as RRP new for old) to £620 if valued at the estimated prices I give.
Is there an alternative where I can get reputable watch insurance separately? If so can anybody recommend places I should try?
If anybody has had a discontinued watch stolen, what's the process your insurers went through to replace/reimburse?
This year, however, two of the watches have been discontinued and prices to replace them like for like on the grey market have literally doubled.
So I seemingly have 3 options. 1. Put them down valued at the cost to replace with the new model, 2. get them valued. 3. Go independent insurer just for the watches.
I spoke to Admiral (current contents provider and they said they would want me to get them valued and have the amounts verified. Not something I am against, a bit of a faff, but I guess worth it given the monies involved here. Having said that my premium shoots up from £220 (if I have them down as RRP new for old) to £620 if valued at the estimated prices I give.
Is there an alternative where I can get reputable watch insurance separately? If so can anybody recommend places I should try?
If anybody has had a discontinued watch stolen, what's the process your insurers went through to replace/reimburse?
I don't see why you should have to get a valuation on something that fluctuates and unnecessary until you make a claim. If you had a daytona for instance anyone could provide an insurance valuation if stolen based on current prices and evidence of ownership.
Every year otherwise you'd need to get it reassessed.
Every year otherwise you'd need to get it reassessed.
bonerp said:
I don't see why you should have to get a valuation on something that fluctuates and unnecessary until you make a claim. If you had a daytona for instance anyone could provide an insurance valuation if stolen based on current prices and evidence of ownership.
Every year otherwise you'd need to get it reassessed.
That was my thinking too. Spoke to Halifax (underwritten by Lloyds), and they've come in at £255, so I've gone with them.Every year otherwise you'd need to get it reassessed.
It's Admiral making things hard for themselves, once again. I used to inure my car with them also, until they started playing silly buggers with policy levels and add-on conditions.
Gassing Station | Watches | Top of Page | What's New | My Stuff