Insurance ?

What is the general thinking/wisdom on watch insurance ? Now that my little collection (3) is growing i looked at insurance and was immediatly turned off by the premiums. Extremely high! Am i looking in the wrong area; general jewellary insurance? Is there a variance for 'collections' that anyone knows? What is the general feeling on this topic gents?

I'm not sure how it works in Europe, but I have my watches listed as an addendum to my homeowners policy. The premium is a little higher but not overly expensive. It is important to me to have the replacement value of my modest collection covered.

I opted for a home safe. Why? An Insurance might well - if you are lucky - replace some of the value. But it won't bring you back the watches and the memories connected.

I guess one should only insure what one cannot pay after the mishap. Insurance companies are in it to make money.

Kind regards,
Paul

I have gone also for the home safe variant. I am basically concerned with paying a high premium and eventually, worst case scenario, ending up with a "partial compensation". On second thoughts, or none because of some technicality.

Timely thread, I've been looking at additional insurance for my watches and/or a home safe.

Can anyone recommend a good safe for storing watches and other jewelry that has good burglary protection and decent fire protection? I've been doing a bit of research and came across a company called Brown Safe here in the US. They have some very cool safes that are made specifically to accommodate watches. "The Man Safe" is one that has piqued my interest, despite the silly name :-) Prices are pretty high so I'm looking for good alternatives.

www.brownsafe.com/man-safe/index.html

The "Man Safe" is quite nice - and I do like that they have an IWC in their collection!

I do have a valuables insurance added to my home insurance for my Portuguese YC and the premium per year comes down to roughly 1.2% per 1K€ value.

Wow those are expense pieces of gear !! Surely there are good options that are substantially more affordable?

1-1.5% as an annual premium is roughly the figures based on my own insurance premiums paid. as with everything shop around for best value and carefully read what is and isn't covered and in what scenarios. you can reduce premiums by covering acquisition cost as opposed to replacement cost (assuming you've selected watches LEs that appreciate).

regards,
thang

I was just addressing insurance in my initial response to your post. I agree with David and a few others that reimbursement doesn't replace the watch. I secure my watches in a way that protects them from theft...aside from the fact that I live in Texas and all my neighbors are heavily armed!

I recalled an article published in the forum about a safe manufacturer in Switzerland.You can read the article here

Cheers Chris