Watch insurance?

[ohl]

Hi bros and sis,

Came across people mentioning buying insurance for their watches in some overseas forum... I wonder if such a thing is practiced in singapore? How does it work and how much does it cost?

Thanks!

[triton]

usually it is tied home insurance aka contents insurance.

however, i am not sure how each insurance company policies work on content.

Hi bros and sis,

Came across people mentioning buying insurance for their watches in some overseas forum... I wonder if such a thing is practiced in singapore? How does it work and how much does it cost?

Thanks!

[kelvin_koh]

Hi bros and sis,

Came across people mentioning buying insurance for their watches in some overseas forum... I wonder if such a thing is practiced in singapore? How does it work and how much does it cost?

Thanks!

Annual is 20% of your watches value, accompanied with receipts.

[noew]

cost of insurance is 20% of total value? or sum insured is only 20%?

[taxico]

i think cost is 20%... i decided to go safe deposit route instead (+ a safe at home).

ask your insurance company about coverage or a rider for home contents...

[ohl]

20% is crazy...means in five years' time i can buy a new watch already?

[agam]

20%...i can buy a good condition watch

[taxico]

which is why i went the SD way.

i pay less than $500 a year for a jumbo safe deposit box in bedok (i think $450?).

a small one is only a little over $100 a year in CBD at FEB (but can't fit watch boxes only watches).

my safe was free because someone didn't want it. i just had to ask 3 guys to move it WITH me - without the door.

[triton]

putting in safe deposit box

advantage - cost might be cheaper than paying home content insurance.
disadvantage - having to go to the safe deposit box whenever want to take watch

home content insurance

advantage - having watches at home
disadvantage - cost of insurance might be higher than safe deposit fees

having a safe at home

advantage -

• have watches at home
• don't need to travel to safe deposit location
• don't need to pay safe deposit fees
• may not need to pay home content insurance if one feels that it is possible for safe to be moved

i have recommended several watch enthusiasts to a safe salesman. most of them bought safes from him.

my recommendation for home safe is

• weight of safe is minimum 50kg as it is harder for one person who move it.
• no digital combination as it is easier to break the code
• have both a key & rotating dial number lock. (yes, need to remember sequence but it is harder to break, your choice)
• fire resistant

[noew]

there were several cases of break-ins where the entire safe deposit box was carried away.

[triton]

was the safe bolted to the ground or wall?

there were several cases of break-ins where the entire safe deposit box was carried away.

[seizure]

some safes are too big (if not impossible) to carry away without removing the doors and contents first...

[taxico]

some safes are too big (if not impossible) to carry away without removing the doors and contents first...

my brother didn't log out from my laptop and i used his account to post here... the above reply was written by me.

[badass09]

Have a friend who sells safes... pm me if anyone is interested...!!!

[Edmund Watch]

I prefer not to have a safe at home. In my opinion, it is likely to do one more harm than good cos it is likely telling the burglar where to get the valuables, unless the safe is really heavy and bulky.