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I'm re-evaluating watch insurance at this time, and I'd like to know your recommendations and thoughts. I realize this may have been discussed before, but it's a topic best served fresh due to possible changes that may have occurred.:)
 

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I just added a ryder to my homeowners insurance - wife's wedding ring, her cartier, a couple of her $5k purses, couple of my watches and a couple of my fire arms. All this beyond base extended limits.

For the year that's like $175 replacement value.
 

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I'm re-evaluating watch insurance at this time, and I'd like to know your recommendations and thoughts. I realize this may have been discussed before, but it's a topic best served fresh due to possible changes that may have occurred.
Your homeowner's insurance policy/renter's policy has a limited amount of blanket jewelry coverage... probably $5K or less. Check with your agent to see if they offer valuable personal property coverage (vpp) which allows you to schedule individual items such as a luxury watch, diamond ring, etc at full value. Coverage not only includes replacement cost and theft, but mysterious disappearance...it's just gone and you don't know how or when. You will probably need photos, appraisals, and possibly receipts to document each item...depending on your insurance company and the item. I have mine with USAA and I covered them at full retail price even though I paid less. I have about $25K in coverage for about $230 a year.
 

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Homeowners rider.

Jewelers Mutual was messing around with my application for additions to my collection earlier this year. Already had 1 Rolex insured with them wanted to add 2 more.

So I called my homeowners agent and added them same day for 2/3rds the JM quote.

Lost faith in JM when they can't underwrite an addition in 2 weeks? Wondered if I'd ever get paid if I made a claim.
 

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Homeowners rider.

Jewelers Mutual was messing around with my application for additions to my collection earlier this year. Already had 1 Rolex insured with them wanted to add 2 more.

So I called my homeowners agent and added them same day for 2/3rds the JM quote.

Lost faith in JM when they can't underwrite an addition in 2 weeks? Wondered if I'd ever get paid if I made a claim.
I made a claim on my JM policy for a platinum wedding ring that I unfortunately lost in my yard.

$1,000 claim paid in a few days. I actually extended the process by deciding what to replace it with. As painless as possible. $0 deductible, and no increase in premium at renewal. The only stipulation was that for my replacement wedding ring, they made me take a $100 deductible on it. JM actually advertises that a claim will NOT impact policy premium.

Great company.

Would highly recommend JM over homeowners. It's an all-risk policy vs a named perils policy (typically) with a much lower deductible. Plus you don't taint your homeowners if you have a claim. My lost ring would not have been covered under my homeowners.
 

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Homeowners rider.

Jewelers Mutual was messing around with my application for additions to my collection earlier this year. Already had 1 Rolex insured with them wanted to add 2 more.

So I called my homeowners agent and added them same day for 2/3rds the JM quote.

Lost faith in JM when they can't underwrite an addition in 2 weeks? Wondered if I'd ever get paid if I made a claim.
Would highly recommend JM over homeowners. It's an all-risk policy vs a named perils policy (typically) with a much lower deductible. Plus you don't taint your homeowners if you have a claim. My lost ring would not have been covered under my homeowners.
My homeowners rider is all risk. Cheaper, and much more reliable than JM.

Glad you had a good experience with them. I did not despite multiple emails and calls.
 

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Homeowners rider.

Jewelers Mutual was messing around with my application for additions to my collection earlier this year. Already had 1 Rolex insured with them wanted to add 2 more.

So I called my homeowners agent and added them same day for 2/3rds the JM quote.

Lost faith in JM when they can't underwrite an addition in 2 weeks? Wondered if I'd ever get paid if I made a claim.
I made a claim on my JM policy for a platinum wedding ring that I unfortunately lost in my yard.

$1,000 claim paid in a few days. I actually extended the process by deciding what to replace it with. As painless as possible. $0 deductible, and no increase in premium at renewal. The only stipulation was that for my replacement wedding ring, they made me take a $100 deductible on it. JM actually advertises that a claim will NOT impact policy premium.

Great company.

Would highly recommend JM over homeowners. It's an all-risk policy vs a named perils policy (typically) with a much lower deductible. Plus you don't taint your homeowners if you have a claim. My lost ring would not have been covered under my homeowners.
There are two different types of jewelry coverage in a homeowner's policy...the built in blanket coverage of a fixed amount...usually less than $10K, limited perils, and replacement cost minus the deductible. There's a separate policy available in addition to a homeowner's policy that's called Valuable Personal Property; which has no deductible, adds lost & mysterious disappearance perils, and features replacement cost up to the insured amount for each scheduled item. You must have a homeowner's/renter's policy with the insurance company to get the VPP. If you file a claim under your VPP policy is does not impact your homeowner's policy.
 

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I found that a VPP under USAA was less expensive than Jeweler's Mutual for the same coverage. I just sent a picture of my appraisal with basic information about the watch through the USAA app, and I was covered essentially immediately.

Sent from my SM-N950U using Tapatalk
 
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