patrick_y
[PuristSPro Moderator]
33553
Agreed. Don't forget, Middleman H needs to be compensated too! I'm sure they're taking a big chunk! Probably 10-15% of revenue! [nt]
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where is the H world heading to...
I see a totally different H now ! Thoughts ? Best, Mahesh ...
I may be naive...
but I like the insurance initiative! Sounds like a classic case of good old entrepreneurship (granted they really do a good job providing good insurance that isn't complicated to buy).
The article says the insurance is through Chubb in the US
If you can't trust them, not sure who you can trust...😉
I don't know but Chubb is a very large commercial carrier
And they may already insure jewelry and watch stores. Hodinkee will merely be a "broker" of sorts that just brings them more business.
If you ever spend time digging through various threads on insurers and who is good, bad or otherwise it does seem Chubb always comes up tops for insuring watches.
My issue is not with them identifying what appears to be one of the preferred insurers, it’s more why would I give them (Hodinkee) this time of information about me. It’s a great play by H, it will I assume allow them to use this information for other pur...
Good point but how do we know if H is ending up with a database of owners and their watches...
Rather than just handing over the customer to Chubb and getting a cut from that. I know it's quite possible, but...?
May be I’m more risk averse...even for paper rolls ;-)
esp. after the 8 day travel desk timepiece - i'm unable to trust their credibility / ethics !
I agree with you 100%
It's easy to sign-up, it's easy to give them your money.... but how easy is it to get money from them should you need to file a claim?
As a few other have mentioned...
It is through Chubb, so filing a claim and receiving your money should be relatively painless... but who knows...
A great idea, i must say. Insurance is a big issue indeed
And most companys have no idea what they are talking about actually.
They’re not directly doing it...another company is behind it too !
Now I’ve no doubt it might be a great initiative, the legality in proving loss isn’t going to be simple I suppose.
I have seen a few insurance companies popping up the last few months who are specialized in insure watches
Think it is a smart way to enter a ,,new,, market now our hobby is getting more and more attention from criminals .
The other risk is a FaceWatchBook etc.
IMO : This needs to be dealt by an established renown insurance company.
Initially it was my thought as almost few months they adapted the personal profile with possibility to add your collection...
Now it took a different direction altogether...I didn’t see it coming !
To me an idea like this needs to be dealt much differently
In the Mid 2000 I worked on a semilar project. This approach here is in my opinion unadapted and limited. To present it under H is also very wrong unless H as certified funds guaranteed to the level of assets covered. Again to me this looks like at best a...
It's all about cyber security
How many people are you willing to provide with your personal, data, location and photos of your watches?
You are all right!
Silicon Valley companies get hacked all the time. And they're the best. What hopes do we have for Hodinkee?
One word : Smart
These guys are really smart to make money...I meant it’s a company that needs revenue and income to pay for their employees and contents. If you are the parent of the owners, you’ll be proud how quick witted your kid is. If you like this idea, go give it ...
Discuss, evaluation by different people and debating? Is there a difference?
The post ask for thoughts....so I gave mine
I do agree with you, those guys are just good
I could be a customer if the service was available in France too. Hodinkee is gonna have a huge data base about you and your collection.
i've no trouble thinking the same & even agreeing to it as a business person...but unfortunately not as a collector !
meaning...i need to trust H will my info + their ethics it was tested when they write reviews to brands that they sell *esp. when the review miss neutrality !! with the 8 day travel desk timepiece my doubt is much confirmed... again...as a business person...
Honestly, I am intrigued.
Chubb is a well-known insurer, so Hodinkee is certainly working with an established carrier. What Hodinkee appears to be doing here is no different than what hundreds of professional associations do routinely -- namely, offering their membership insurance...
Seems to me there's a huge premium for a slight convenience...
I like the idea of adding and/or removing watches from a policy via an app. Very easy, very convenient. But at what cost? I just did a quick check on the math based on their example and their average is about $18 per $1,000 per year. My agent gave me quot...
I wouldn't touch it with a ten-foot pole
Yes, Chubb is the place to go, but coverage “passed through” Middleman H in NYC, no way. Cazalea
If you subscribe an insurance from them, do you receive an Hodinkee strap, in an Hodinkee pouch AND... Will you also be the first to be offered their sublime LE, delivered by Hodindex?
Will be be able to pay with a Credit thanks to Hodinbank? Will your watch be revised by Hodinex? Will we eat at Hodinald and travel with Hodinair? Hmmm....
PMP ;-) A Masterpiece
Are you changing sides ? you are aiming for the taller seat on the platform ;-) Of course this is to be dealt much differently.