Insuring your timepieces

[seiko.citizen]

may be aircon comfort, but abit dark? ....

i have a safe at my place, just throw inside and keep out of sight

[wind128]

Hi SG-ROC bros/gals

I need your advice - I am shipping a watch worth about S$5,000 to US.

I understand that maximum that FedEx can cover is S$500, is there a need for me to get other watch insurances or it is safe for me to ship over to US uninsured?

Thanks in advance for your replies!

[triton]

i strongly suggest u to get insurance up to 5k for the watch. this is because the watch is going through too many pairs of hands. you never know what is going to happen along the way.

Hi SG-ROC bros/gals

I need your advice - I am shipping a watch worth about S$5,000 to US.

I understand that maximum that FedEx can cover is S$500, is there a need for me to get other watch insurances or it is safe for me to ship over to US uninsured?

Thanks in advance for your replies!

[wind128]

Thanks for the advice, Triton.

That was I was thinking. If any of you know of a third party insurer who can insure such events, please let me know.

For me I will be calling the list of general insurers to see if they have something for such events.

[ohlins]

if u read other forums regularly, maybe it's a good idea to stay away from fedex.....

[sirowhite]

Do you buy insurance for your watch...?

hi , just wander that do yours will buy insurance for your watch? Just imagine if one day your watch being stolen or lost or ....?
pls share your opinion and pls advise what kind of insurance can cover such risk....

[Oceanklassik]

I remember reading this here. Search.

[seiko.citizen]

travelling: yes. local: no

[triton]

watch insurance

sg-roc is looking for value added service for its members. as such, i would like to conduct a survey and feedback to see if it is viable to embark on this scheme.

i believe most home owners here have home insurance on their property. however, how many are currently having their watch including other valuables insured.

i know some people keep their watches in safe deposit boxes. there are advantages and disadvantages to this. each time you want to wear your watch, you have to go to the said location and fill up forms in order to retrieve and fill up forms again when you return. the premium you pay may be lesser, equal or slightly more than having a home contents insurance scheme.

there are also others who purchase a safe to keep their watches and other valuables inside. again this has its advantages and disadvantages. don't need to travel to retrieve items from safe deposit location. space taken up to put the safe.

however, with the above two of the many ways to keep your watch safe when not wearing, your watch is not covered should there be loss through theft or robbery. this is where watch insurance including content insurance makes a difference.

as usual most of us are not convinced to buy health/life/accident insurance till an event hits you. currently for home content including watch insurance, the premium is still slightly high.

during my years in sg-roc, i noticed that there are discussion threads where members discuss if one should wear their beloved rolex and/or other brand watches overseas for safety reason. also i noticed there are members who travel overseas frequently. most would not have insurance for their watches.

as such, i would like to see the response of getting home insurance including watch insurance @ attractive rates, would members be interested to get their watches insured. if there is substantial interests, then sg-roc would contact a few relevant agencies to see if they can work out a package deal for sg-roc members.

[ckhouse80]

I think this is a good idea. Any member here is insurance agent can let us know the estimate premium?

[exxondus]

just wondering, what happens if we insure a watch, but a few months down the road, we flip it? do we need to go thru lots of paper work to cancel the policy and stuff like that?

[triton]

good point raise. will take note of this when there are substantial interests and check out the procedure.

i am sure that there are paper to be done. not sure of the process as well. this is because i do have credit card insurance and if i change card number, a phone call will suffice.

just wondering, what happens if we insure a watch, but a few months down the road, we flip it? do we need to go thru lots of paper work to cancel the policy and stuff like that?

[triton]

this was taken into consideration when i first made the post. each member would have different value of total watches. some can be like 10k, some can be like 100k some can be like 1 million, and so on.

this is why rather than to have a table showing @ which value, the premium is so much. i am looking for volume aka value of watches and total number of sign up to have more bargaining power. current rate should be about 2%

I think this is a good idea. Any member here is insurance agent can let us know the estimate premium?

[triton]

this was taken into consideration when i first made the post. each member would have different value of total watches. some can be like 10k, some can be like 100k some can be like 1 million, and so on.

this is why rather than to have a table showing @ which value, the premium is so much. i am looking for volume aka value of watches and total number of sign up to have more bargaining power. current rate should be about 2% of total value

I think this is a good idea. Any member here is insurance agent can let us know the estimate premium?

[seiko.citizen]

another point to raise is what about overseas coverage?

last time my home and contents (in oz) didnt cover me once i stepped outside of australia, hence my decision to take travel insurance with additional cover.

im assuming; to initiate the cover; you will also need a professional evaluation of the items to be covered?