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Insuring watches

  • 06-09-2010 7:50am
    #1
    Cyrus
    Registered Users, Registered Users 2 Posts: 20,475 ✭✭✭✭


    My house insurance is up for renewal and the premium is gone up a bit due to a few extra watches and pieces of jewellery added over the year, we live in an apartment so it is contents only but we have a relatively sizeable amount of stuff that needs to be added to the all risk section of the policy

    just wondering if anyone has found an insurer that offers reasonable premiums to insure watches and jewellery?


Comments

  • #2
    Wibbs
    Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 60,217 Mod ✭✭✭✭Wibbs


    Make sure you get a pre agreed valuation though. Too often the insurance companies will try to wriggle out of paying. Much easier with a newer model, as you have receipts and a pretty clear market value. With vintage stuff agreed value is a must. Get an independent valuation too as the companies valuations will tend to be on the low side.

    Rejoice in the awareness of feeling stupid, for that’s how you end up learning new things. If you’re not aware you’re stupid, you probably are.



  • #3
    Number Nine
    Registered Users, Registered Users 2 Posts: 552 ✭✭✭Number Nine


    Wibbs wrote: »
    Make sure you get a pre agreed valuation though. Too often the insurance companies will try to wriggle out of paying. Much easier with a newer model, as you have receipts and a pretty clear market value. With vintage stuff agreed value is a must. Get an independent valuation too as the companies valuations will tend to be on the low side.

    Wibbs

    Do you have any names of any companies in Dublin that would value some watches ?

    Thanks


  • #4
    MediaTank
    Registered Users, Registered Users 2 Posts: 1,059 ✭✭✭MediaTank


    bedlam wrote: »
    Most jewellers should do it. Weirs certainly does

    Yes, but they charge (handsomely) for that service - unless you bought the watch from them. If your watch is serviced by the manufacturer you normally get a valuation certificate with the service douments. Rolex certainly do.


  • #5
    Wibbs
    Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 60,217 Mod ✭✭✭✭Wibbs


    And IME it's difficult to get anything like expertise with vintage stuff in this country. They seem to massively undervalue on appraisal or over value when for sale in their windows. The exception seems to be rolex where they over value the vintage ones across the board.

    Rejoice in the awareness of feeling stupid, for that’s how you end up learning new things. If you’re not aware you’re stupid, you probably are.



  • #6
    MediaTank
    Registered Users, Registered Users 2 Posts: 1,059 ✭✭✭MediaTank


    bedlam wrote: »
    The one time I don't mention there would be a charge for a valuation :)

    It's not that bad as it turns out, or at least not as bad as the 10% of the value I had been told previously. According to login1 it's €40 + 1% of the valuation which, assuming you can't prove the value another way, is very reasonable.

    Last time I asked it was 10%, that's better news.


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