nautilus
597
In England we have an insurance company called Hiscox..
..they are excellent and pay out within 24 hours without sending a loss adjuster. They take you at your word. My premium is around £2500 per anum for £300,000 of contents with a £1000 excess. Do you appreciate the impact, in the event of a claim, of being under insured? - if you are 50% underinsured, and they find out, then they will only pay 50% of your caim.
Do you insure?
Do everyone insure their pieces? Costs really add up for the more pricier ones... I keep the top few insured the rest I start rotating out since most pieces' value decline anyway. Just like to hear your opinion. And some actual $s would be interesting too...
I have a little different perspective about insurance.
There are a few things to consider which may have an impact on your decision. 1. Do you have a safe place for the pieces when not being worn? And, I mean a safe place not a shoebox in the back of a closet. 2. Are you the type who has a tendency to lose or...
hefty fee in example...
Thanks for those lines of thoughts... insightful indeed. Few more thoughts and questions... * Is your example of $5000 annual fee for $50K example or real? My current watches have a premium of about 1-2% of face value per year. I would clearly not insure ...
real world example
i pay ~1.5% appraised replacement value which is unfortunately sometimes more than what i paid for 2nd hand pieces.. i only insure pieces that i know would "hurt" to lose or the ones that are higher profile targets for theft (read: rolex)
No, those numbers were hypothetical.
The real values are as others have indicated, about 1.25 to 1.5% of insured value and can be higher if the insured amount is very high (these numbers can be quite different depending where you are located). It's good you have a safe and hope it is one pro...
In England we have an insurance company called Hiscox..
..they are excellent and pay out within 24 hours without sending a loss adjuster. They take you at your word. My premium is around 2500 per anum for 300,000 of contents with a 1000 excess. Do you appreciate the impact, in the event of a claim, of being...
Yes, absolutely.
As we once had a break-in into our house (they didn't take much - only the car keys and my car), I insure our stuff (the jewellery of my wife and our watches), although most of it is stored in a safe. Best regards Georg