what kind of insurance the lost insurance or certified insurance
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Watch insurance?
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Originally posted by ohl View PostHi 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!
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Originally posted by k1ranm1stry View PostI looked up insurance for my watch and it was quite expensive, there was a premium for every $1000 which made the total annual insurance premium of nearly $1000 which has deterred me from taking the policy. I guess it requires a lot of shopping around to get the best deal.
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Just be careful!
Maybe I'm just different from the folks around here (I only have 3 PAMs, and maybe my income isn't like the others). I know that there are stories of break-ins and all, but I feel that I cannot justify to myself paying 20% of the value of my watches yearly. I'd rather just use that money to pay for a new watch if I lose the ones that I have.
Since I don't wanna pay for insurance, I'll just make sure that my doors are locked and my watches are stored in a good location inside my place.
And I'll hope I don't have to eat my words as well!
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at this moment, only a handful of insurers provide coverage for such items.
ie. Chubb/AIG/AXA
if u have an existing home insurance policy for a few years (or have a reasonable portfolio with them), you can seek your insurer's approval for special underwriting for these products.
eg. Sompo offers worldwide coverage at an additional premium.
do consider the excess/co-insurance (commonly applied for such items), the per article limit.
you need receipts/valuation reports to justify the value.
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