Reply With QuoteI added mine as a specified item to my current policy and it only added £21. Alternativley I heard good things on here about Hiscox Insurance never used them though.
Oh and welcome :D
Hi all,
I have only just joined the forum and I am glad to be part of this community.
I was wondering if you could advise me on how to insure my Tag without going through the house insurance. Any good insurers out there? How much am I likely to pay for a £3K watch?
Thanks in advance
I added mine as a specified item to my current policy and it only added £21. Alternativley I heard good things on here about Hiscox Insurance never used them though.
Oh and welcome :D
Originally Posted by jgeddes
Thanks Jgeddes. Is this £21 per month or year?
Has anybody got their time pieces insured through Hiscox? How much would ti be for a £3K watch? Also if lost abroad, does it cover it?
£21 for the year with a current valuation of £2900.
It'll be much cheaper announcing it as an extra item on your insurance than opening up a new policy just for a watch.
What is your single item limit? (before it has to be declared as a separate item?) Some are £1000, some are now £1500 or even £2000. If you have a look about and get one with a higher threshold it may well bring the price down slightly.
£28 (+ change) per year to insure my £5,320 Sub C on my household insurance.
Yep, much cheaper on your house insurance.
For a single watch you should be able to name it on a standard policy, but if you intend to collect and/or flip, someone like Hiscox is a better bet as you don't have to list your watches and they'll insure a much higher value, both of a single piece and collection total.
Thank you all for these prompt responses. I will be looking at adding my watch to the current insurance although I am only renting now. I will also give Hiscox a bell to see how much for a single watch quote.
It is so good to be able to tap into the knowledge of this forum. :-)
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I'm 100% that Hiscox will not insure a single watch as a standalone policy, unless something has changed in the past couple of years.
Their main market is, or certainly was High/Medium Net Worth household policies, and most will have added watches on here as specified items. Certainly best bet at the minute would be to add it on your current policy then have a look around at renewal.
Malc
I got a quote from Hiscox for home and contents insurance including cover on a TT Daytona, Sub non date, Sub LV, Milgauss GV, TT ladies datejust, panerai 312 and. £6.5k engagement ring and they quoted me over £2k for insurance. In the end I went with AXA for £590 and £24k cover on those items (no need to specify individual items) in the house and £15k of cover for when I'm out and about. I'll get a safety deposit box at metrobank or somewhere and just interchange the watches to keep them under the £24k limit.
I got a proper earful from my fiancé about how I was driving up our insurance, but at least when I get a safety deposit box it's easy to hide any new purchases!!
You can always tell her that you need to get rid of her Engagement ring to reduce the premiums!... see if she'll like that? ;-)
Seriously, with regard to a global insurance policy, I tried Hiscox but they did not offer enough cover on individual items for what I required. I ended up getting a tailored offer through a broker underwritten by Hardy's at Lloyds of London. Single policy for house and contents plus high value specified items... seems to be very competitive pricing.
Cost me £20 in additional premium to add my Sub to my policy - plus a flat £30 admin fee by the broker :shock: I shall be seeking another broker next year!!
My renewal price with Barclays changed by roughly £25 when I added the Oris Pro Diver however I shopped around and with specified items at home and away from the house (all itemised pieces valued between £1300 and £3000) managed to get a quote for £150 with Bradford and Bingley. It is definitely worth shopping around and definietly worth specifying on your home contents insurance rather than taking an individuall policy.
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