Watch Insurance

Author
Discussion

Tibs

Original Poster:

488 posts

208 months

Saturday 25th August 2007
quotequote all
Some of you have some serious timepieces.

Without revealing too much about yourselves, are they covered as part of your homes and contents? Or do you have seperate cover?

Been onto house insurers, who want silly money to add my watch to our policy, so just wondering what others do/have done to cover thiers?

thanks all

sparkyhx

4,193 posts

211 months

Saturday 25th August 2007
quotequote all
I'm interested as well, the wife's Rolex is on the house insurance at about £120 which is fecking rediculous. My GP isn't as yet insured and was wondering if there were stand alone policies.

I found a few with a quick search but they were thru jewelers and only covered if you bought from them. They seemed a lot more reasonable cost wise. Since my initial enquiries I've not looked again, maybe this will be the catalyst.

Andy_CTR

2,090 posts

238 months

Saturday 25th August 2007
quotequote all
I've only just renewed my house insurance, so can tell you what I found out.

My total house/contents insurance was only £300 all in with esure, which saved £250 on my renewal quote from directline. My rolex had to be valued as it was worth more than £2500, (this wasn't even on the old directline policy!), any others below that value just had to be detailed on the policy. They're also covered if they're lost/stolen outside the home.

£120 extra for a watch is a bit cheeky!!

PS. I've also got a £1000 mountain bike covered on the policy, so it seems pretty good value! Shame the adverts are so bloody annoying!!!! Calm down dear!!! biggrin

Tibs

Original Poster:

488 posts

208 months

Sunday 26th August 2007
quotequote all
Interesting.

Anyone else?

Our current policy covers most thing in the event, but if we were to add to the list a watch of a certain value(say more than 2k), then they want an extra £80 per year. Maybe its just me, but I think thats a lot.

filaborg

261 posts

213 months

Sunday 26th August 2007
quotequote all
Insuring your watch under your house insurance, where do you stand if you lose the watch other than your house. Just cant see insurance company's handing out a 5k cheque or what ever the watch is valued at.

sparkyhx

4,193 posts

211 months

Sunday 26th August 2007
quotequote all
Andy_CTR said:
I've only just renewed my house insurance, so can tell you what I found out.

My total house/contents insurance was only £300 all in with esure, which saved £250 on my renewal quote from directline. My rolex had to be valued as it was worth more than £2500, (this wasn't even on the old directline policy!), any others below that value just had to be detailed on the policy. They're also covered if they're lost/stolen outside the home.

£120 extra for a watch is a bit cheeky!!

PS. I've also got a £1000 mountain bike covered on the policy, so it seems pretty good value! Shame the adverts are so bloody annoying!!!! Calm down dear!!! biggrin
Wifes got a bimetal datejust - so £3500 new.......and my GP list price is £6700 new, god knows how much that will cost.

sparkyhx

4,193 posts

211 months

Sunday 26th August 2007
quotequote all
filaborg said:
Insuring your watch under your house insurance, where do you stand if you lose the watch other than your house. Just cant see insurance company's handing out a 5k cheque or what ever the watch is valued at.
You have it under the 'all risks' bit, which covers loss, damage and theft outside the home.

Some policies don't cover 'lost' only theft

filaborg

261 posts

213 months

Monday 27th August 2007
quotequote all
sparkyhx said:
filaborg said:
Insuring your watch under your house insurance, where do you stand if you lose the watch other than your house. Just cant see insurance company's handing out a 5k cheque or what ever the watch is valued at.
You have it under the 'all risks' bit, which covers loss, damage and theft outside the home.

Some policies don't cover 'lost' only theft
sparkyhx- do you know if they pay out the full purchase value of the watch or do they account for depreciation, bearing in mind some watches depreciate and others appreciate.

sparkyhx

4,193 posts

211 months

Monday 27th August 2007
quotequote all
depends on the policy - mine is new for old

raceboy

13,274 posts

287 months

Monday 27th August 2007
quotequote all
My local broker does me a deal £250 Building & Contents, most of my watches, and push bikes, fall within the standard 'any item under £1500' bit covered, home and away, (although the B1 might be sneaking over that limit if based on new price, the Daytona is named on the policy, with valuation from dealer no extra loading but only covered upto RRP so couldn't actually replace it straight away.

Justayellowbadge

37,057 posts

249 months

Monday 27th August 2007
quotequote all
Hiscox.

Job done.

dumbfunk

1,727 posts

291 months

Tuesday 28th August 2007
quotequote all
I'm home insured with Zurich and it costs £13 per year to add my £1800 Tag to the policy.
Pretty good job I did as 9 months later I cracked the glass and the repair bill is a scarcely believable £695. Zurich paid up without any bitching!


dumbfunk

Justayellowbadge

37,057 posts

249 months

Tuesday 28th August 2007
quotequote all
frazer guest said:
Justayellowbadge said:
Hiscox.

Job done.
Hiscox? Who are they?
www.hiscoxonline.com




Edited by Justayellowbadge on Tuesday 28th August 10:23

ascayman

12,928 posts

223 months

Tuesday 28th August 2007
quotequote all
only chubb, hiscox or zurich privite clients will do if you care about your watches/jewellery.

langy

582 posts

246 months

Tuesday 28th August 2007
quotequote all
I've just renewed my buildings and contents insurance with Zurich and they cover valuables (including watches) upto £2500 and bikes upto £500 all for £115 thumbup

Maxf

8,426 posts

248 months

Tuesday 28th August 2007
quotequote all
Justayellowbadge said:
Hiscox.

Job done.
Agree. Very good (although thankfully claims department is untested).

Spice_Weasel

2,292 posts

260 months

Tuesday 28th August 2007
quotequote all
Maxf said:
Justayellowbadge said:
Hiscox.

Job done.
Agree. Very good (although thankfully claims department is untested).
Seconded. Had to claim last year when some b*gger broke into my shed and stole my (pricey) MTB. Excellent service from them dealing with the claim. Phoned them Monday and had the cash in my account by the Friday. The claim did not affect the premium (just annual % increase this year) though I have since lowered it by 15% as I spotted a poster at work and called them saying my employer had a scheme running with them and as an ****** employee did I qualify?

Tibs

Original Poster:

488 posts

208 months

Friday 31st August 2007
quotequote all
What is meant by 'private clients'?

ascayman

12,928 posts

223 months

Monday 3rd September 2007
quotequote all
zurich 'private clients' is the product provided which is better than its standard product for wealthier indvidules although to be honest you dont have to be that rich.

the cover given is vastly superiour to that which is usually given.

anyone with a watch / jewellery collection should consider the 'high networth' insurers.

b.t.w hsbc private clients and barclays privite clients are banks not insurers you will most probably find that any policies put forward by them are underwritten by chubb, hiscox or zurich p.c.

Tibs

Original Poster:

488 posts

208 months

Monday 3rd September 2007
quotequote all
Thanks for that, very helpful.