Watch insurance

sibod2002

Hi guys

Quick question I was my property was broken into last month and some items were taken which I managed to claim on my home insurance. luckily the thieves did not find a watch which is of high value beaches I found out that my insurance would not have covered me for the amount the watch was worth.

I'm looking at a separate insurance for the watch but the 2 companies I have spoke to will not offer me a quote as I have declared I made a home insurance claim in the past 5 years.

My question is do I need to declare to any future watch insurance companies of my home insurance claim when they ask me about previous claims or would this just apply if I had made any previous claims with separate insurance firms as themselves?

Thanks

Quentin

If you are asked about previous claims, then you do need to declare this one.


Can't you add your watch onto your present home insurance as a "valuable". They normally do let you have valuable items covered under a separate section from the "standard" lump sum of contents.

sibod2002

Hi thanks for the reply I did try to add it to my insurance but they they said it was too high a value for them..I may have to change insurance companies

InsideInsurance

How much is it worth?

M&S Premier Home insurance covers items up to £15,000 without them having to be declared for example.

audigex

It may also be a question for an insurance broker: if it's looking like it's outside the "standard" policies, they should be able to help

Rossim1985

Depending on the value of the watch and for no hassle when making a claim it might be worth looking at high net worth products from Insurers like Hiscox, Sterling, Chubb who are all well established names in this area, though with the latter they only sell their policies through brokers. Horizon are another insurer for mid / high net worth and they tend to be cheaper than the names above.

You could also try Aviva distinct. I work for a brokers (though I don't deal with HNW myself) and overheard my colleagues talking about a claim (for several thousand) for damage to a Rolex watch that was paid to the client's bank account in less than 24 hours after the initial notification, which I thought was pretty impressive. I assumed it was going to be a Chubb policy, but no it was Aviva distinct!