Insurance help
Discussion
Good day all,
Just reaching out to see if anyone has been in my position and resolved it.
I just purchased a Submariner 114060 new (yay). I am 25 years of age and 26 in October, would class myself as mature, but it seems insurance companies do not!
I am struggling to get any insurance for this, been to the like of assetsure, highworth insurance and they won't touvh me because I'm 25.
Anyone found a gem of a company that will?
Thank you
Just reaching out to see if anyone has been in my position and resolved it.
I just purchased a Submariner 114060 new (yay). I am 25 years of age and 26 in October, would class myself as mature, but it seems insurance companies do not!
I am struggling to get any insurance for this, been to the like of assetsure, highworth insurance and they won't touvh me because I'm 25.
Anyone found a gem of a company that will?
Thank you
As stated already, the Contents section of your Home Insurance Policy is the best option – works out much cheaper than a dedicated Policy for the watch alone (similar to how it works out cheaper to insure your Mobile Phone under the Home Insurance Policy, rather than taking out a separate & expensive Mobile Insurance Policy).
The key things you’ll need to look for are that the Contents Section is extended for Personal Possessions cover – basically, cover for items outside the home as well, and make sure of the Territorial Limits e.g. British Isles only, EU or World-wide so you know you have cover anywhere you’re likely to go. Cover should be on the superior ‘All Risks’ basis, as opposed to a defined, limited list of Perils e.g. flood, fire, theft etc.
Read the small print - most Insurers will usually require you to specify any individual items over a certain value (typically £2,000), and those items will be charged for extra, but at least you don’t get a nasty surprise if you need to make a claim but didn’t tell your Insurers about your Rolex.
Home Insurance doesn’t tend to be primarily rated (or declined) according to age – it’s not really like Car Insurance, where Under 25’s are penalised for statistically being at a bigger risk of having an accident. So, your age shouldn’t really matter overly. Of more relevance will be your sums insured value, home address, security protections, home construction, co-habitants, house type, prior claims, marital status, proximity to water etc.
‘Hiscox’ often come out near the top of independent recommendations for Home Insurance Companies. They are probably dearer than most, but offer good quality of cover and more importantly for watch collectors, don’t tend to ask for Personal Possessions to be specified, unless they’re individually valued at over £15k.
The key things you’ll need to look for are that the Contents Section is extended for Personal Possessions cover – basically, cover for items outside the home as well, and make sure of the Territorial Limits e.g. British Isles only, EU or World-wide so you know you have cover anywhere you’re likely to go. Cover should be on the superior ‘All Risks’ basis, as opposed to a defined, limited list of Perils e.g. flood, fire, theft etc.
Read the small print - most Insurers will usually require you to specify any individual items over a certain value (typically £2,000), and those items will be charged for extra, but at least you don’t get a nasty surprise if you need to make a claim but didn’t tell your Insurers about your Rolex.
Home Insurance doesn’t tend to be primarily rated (or declined) according to age – it’s not really like Car Insurance, where Under 25’s are penalised for statistically being at a bigger risk of having an accident. So, your age shouldn’t really matter overly. Of more relevance will be your sums insured value, home address, security protections, home construction, co-habitants, house type, prior claims, marital status, proximity to water etc.
‘Hiscox’ often come out near the top of independent recommendations for Home Insurance Companies. They are probably dearer than most, but offer good quality of cover and more importantly for watch collectors, don’t tend to ask for Personal Possessions to be specified, unless they’re individually valued at over £15k.
John Lewis Premier or Specialist cover.
Allows specified value items or matches contents sum insured.
https://www.johnlewisfinance.com/insurance/home-in...
Allows specified value items or matches contents sum insured.
https://www.johnlewisfinance.com/insurance/home-in...
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