Author Topic: Insurance for Rolex (Read 7790 times)

kopykopy · « **on:** November 28, 2015, 08:10:41 PM »

Hi, I would like to inquire about Insurance for Reloxes. While I know about purchashing a House Bulglary Insurance whereby your Rolex and other assets in the house can be insured against burglary. Is there any Insurance specific only to the Rolex watch whereby you get compensated for lost, bulgalry, damage to the watch etc. (not necessarily in a burglary). I tend to see a lot of overseas forumers insuring their rolexes (some overseas ppl even insure their handphones!). Any one has experience with this? Thanks

Kent3888 · « **Reply #1 on:** November 28, 2015, 08:57:22 PM »

AFAIK house burglary insurance does not cover luxury watches eh, unless you buy individual policies I think

JeepWH · « **Reply #2 on:** November 29, 2015, 06:42:14 AM »

You have to approach the insurance companies individually to inquire on this matter.

Timeless · « **Reply #3 on:** November 29, 2015, 02:03:49 PM »

U may contact your insurance agent to ask for it, rightfully need to provide necessary document, receipt etc.

D'Andy · « **Reply #4 on:** November 30, 2015, 12:21:56 PM »

The best person to talk to would probably be your agent for general insurance (non-life). I had taken the All-Risk Insurance previously, and the premium was on the higher side at 25% of insured amount, IIRC. 4 years of such an insurance and you would have paid for a subsequent piece, although you do get peace of mind during that period. Back up the value of your insured article with documentary evidences of purchase and/or valuation.

A cheaper longer-term option... would be to invest in a fire-proof safe. And if your watch winder could run on battery too (besides direct), you could place the winder with watch in the said safe, and the watch is good to go with the correct time anytime you so pleases. From personal experiences, I find the Chubb Mini Banker a good safe if your collection ain't too extensive i.e. it could accommodate standard-sized watch winders. Just my 2 sen.

ViiiLaix · « **Reply #5 on:** December 07, 2015, 07:48:11 PM »

Just wanted to share this :

http://www.network54.com/Forum/353391/thread/1445822259/last-1445895156/View+entire+thread

Kent3888 · « **Reply #6 on:** December 07, 2015, 07:56:38 PM »

I am very curious anyone here or friends encounter break ins and the their SAFE securely safeguard their watches/valuebles safe and sound, and the thief just walkaway with other items not in SAFE.

Umeshmalani · « **Reply #7 on:** December 08, 2015, 10:08:12 PM »

Yes u can insured it in your house... Do pm me... I'm a broker... Will sort you out

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Omnipotent · « **Reply #8 on:** December 09, 2015, 05:44:41 AM »

Quote from: Kent3888 on December 07, 2015, 07:56:38 PM

I am very curious anyone here or friends encounter break ins and the their SAFE securely safeguard their watches/valuebles safe and sound, and the thief just walkaway with other items not in SAFE.

Depends on what kind of safe you are using and where you place it...

Get one that is secured into the wall/floor and preferably hidden from view...

keanewoon · « **Reply #9 on:** December 09, 2015, 06:41:59 AM »

Quote from: andytagheuer on November 30, 2015, 12:21:56 PM

The best person to talk to would probably be your agent for general insurance (non-life). I had taken the All-Risk Insurance previously, and the premium was on the higher side at 25% of insured amount, IIRC. 4 years of such an insurance and you would have paid for a subsequent piece, although you do get peace of mind during that period. Back up the value of your insured article with documentary evidences of purchase and/or valuation.

A cheaper longer-term option... would be to invest in a fire-proof safe. And if your watch winder could run on battery too (besides direct), you could place the winder with watch in the said safe, and the watch is good to go with the correct time anytime you so pleases. From personal experiences, I find the Chubb Mini Banker a good safe if your collection ain't too extensive i.e. it could accommodate standard-sized watch winders. Just my 2 sen.

Chubb mini banker can be bolted on the floor?

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wildaxlrose · « **Reply #10 on:** December 09, 2015, 07:04:49 AM »

Get a good safe I got a mini banker later a cobra safe especially if you have expanding collection

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wildaxlrose · « **Reply #11 on:** December 09, 2015, 07:06:28 AM »

Yes Chubb mini banker can be bolted to the ground even the larger ones

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Kent3888 · « **Reply #12 on:** December 09, 2015, 09:44:43 AM »

What is the difference between Chubb and those Yale Fireproof safe?

keanewoon · « **Reply #13 on:** December 09, 2015, 10:37:35 AM »

Quote from: Kent3888 on December 09, 2015, 09:44:43 AM

What is the difference between Chubb and those Yale Fireproof safe?

I wonder too.

Based on the spec. Chubb mini banker only do 30mins fire proof though. Feel like not adequate. Anyone has any experience in this?

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kopykopy · « **Reply #14 on:** December 09, 2015, 11:36:43 AM »

http://www.thestar.com.my/news/nation/2015/12/09/rm29mil-in-assets-stolen-thieves-take-luxury-watches-and-gems-from-datuk-seris-home/

Kent3888 · « **Reply #15 on:** December 09, 2015, 01:58:19 PM »

So the burglars just walk in open cabinet door n say thank you? Lol..
.

Umeshmalani · « **Reply #16 on:** December 09, 2015, 03:09:06 PM »

Bro very simple... All you need to do is specify the watch in your house insurance policy... U don't need a safe n stuff... As long as u can prove the main door is broken into or we call it forcible entry the insurance company will have to pay for it..

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ck77 · « **Reply #17 on:** December 09, 2015, 05:36:29 PM »

Quote from: Umeshmalani on December 09, 2015, 03:09:06 PM

Bro very simple... All you need to do is specify the watch in your house insurance policy... U don't need a safe n stuff... As long as u can prove the main door is broken into or we call it forcible entry the insurance company will have to pay for it..

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No full theft extension meh

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Umeshmalani · « **Reply #18 on:** December 09, 2015, 05:37:50 PM »

No need full ma bro... As long forcible entry paid ma

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Umeshmalani · « **Reply #19 on:** December 09, 2015, 05:38:34 PM »

But must specify or itemized like I said right bro;)

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kygan711 · « **Reply #20 on:** December 09, 2015, 06:01:08 PM »

Mine policy was under MSIG Insurance. I listed down all the valuable with receipts as supporting. They charge me like if I recall correctly, 3-8% of the total value of this items as yearly premium.

When my house got broke into, they paid whatever which was listed down with receipts that was on the police report. They do want your receipts thought so you can't reinsure them again. The burglar took out some roof tiles and came down from the roof. No force entry, he did cut my alarm and cctv. Then he went out using this same hole but used my home ladder.

The police and insurance company had no issues classifying this as burglary. I got my refund in 2 weeks I guess. PM me if you guys need my MSIG agent. Hope this helps clarify.

kygan711 · « **Reply #21 on:** December 09, 2015, 06:19:15 PM »

What a coincidence. on the star today " RM2.9 million in assets stolen. This Datuk Seri lost 69 luxury watches when his house was burgled".

reventon · « **Reply #22 on:** December 22, 2015, 11:32:05 AM »

I bet the premium will cost a bomb as insurance is another business . Cheaper alternative will be bank's safe box. A little trouble thought

News:

Author Topic: Insurance for Rolex (Read 7790 times)