Question about insurance

jloyd · **Posted:** Wed Feb 16, 2011 8:50 pm

I think I'm going to purchase a separate insurance policy to cover me on my Ling as I travel abroad alot and my home contents won't cover me.

Just a quick question.
I got my Super Avenger at 20% off retail.

Now the form states replacement value of item, do I put retail price or what I paid?

BroncoSport · **Posted:** Wed Feb 16, 2011 9:05 pm

Retail price. Although its a frequent occurance, the discount at an AD is NOT a garanteed deal. (FYI its harder to get a discount in Las Vegas). Most policies will pay the dealer quoted amount... to the dealer. You basically get a bid from the AD and submit that to the insurance company for payment, but some insurance companies wont issue the check to you. They might make it out to the AD.

Biz · **Posted:** Wed Feb 16, 2011 9:11 pm

Correct, it would be the MSRP. My AD sent me a letter for insurance purposes and they listed the replacement cost at full retail, not what I paid.

jloyd · **Posted:** Wed Feb 16, 2011 9:36 pm

Thanks for your replies.

The insurer will need proof of item value but my receipt obviously shows the discounted price.
How do I go about getting a letter for insurance purposes from my AD as I bought the watch quite a while back now.

Roffensian · **Posted:** Thu Feb 17, 2011 5:22 am

jloyd wrote:

Thanks for your replies.

The insurer will need proof of item value but my receipt obviously shows the discounted price.
How do I go about getting a letter for insurance purposes from my AD as I bought the watch quite a while back now.

Since it's replacement value, just ask them for a current price list.

mrcheatle · **Posted:** Thu Feb 17, 2011 6:07 am

Since we are on another new insurance topic... do you guys find the need to insure ALL your watches? Reason I am asking... I just purchased a Navi World from George last week. I plan on wearing this watch when I dress up and for dinners and what not. Meanwhile, I insured my CE which I wear everyday and vacation with it (swimming, ect...). So my question would be...is it worth insuring my World since I baby the hell out of it and wear it for nice occasions?

What do you guys do?

Roffensian · **Posted:** Thu Feb 17, 2011 6:14 am

mrcheatle wrote:

Since we are on another new insurance topic... do you guys find the need to insure ALL your watches? Reason I am asking... I just purchased a Navi World from George last week. I plan on wearing this watch when I dress up and for dinners and what not. Meanwhile, I insured my CE which I wear everyday and vacation with it (swimming, ect...). So my question would be...is it worth insuring my World since I baby the hell out of it and wear it for nice occasions?

What do you guys do?

So you mean that it's the most likely to get stolen if someone breaks in to your home??????

That would seem (to me) to answer the question.

mrcheatle · **Posted:** Thu Feb 17, 2011 6:30 am

What I'm trying to say is... since I don't wear it nearly as often and if I do wear it, it is usually during a safe activity(dinner, business etc...)so would it still be worth it?

I having trouble putting my thought in writing here lol

kstone · **Posted:** Thu Feb 17, 2011 6:45 am

Let me try to paraphrase Roff....

If you think that there is absolutely zero % chance of:
-someone breaking into your home and stealing your World
-your home burning down (or other disaster) and your World getting destroyed
-your World falling off your wrist or getting mugged on one of the occassions that you do wear it

...then no, you probably don't need to insure it.

mrcheatle · **Posted:** Thu Feb 17, 2011 6:50 am

kstone wrote:

Let me try to paraphrase Roff....

If you think that there is absolutely zero % chance of:
-someone breaking into your home and stealing your World
-your home burning down (or other disaster) and your World getting destroyed
-your World falling off your wrist or getting mugged on one of the occassions that you do wear it

...then no, you probably don't need to insure it.

I really don't put myself in situations to be mugged, so no. But if something happen with it in my house then my home owners will cover it. The main reason I cover my CE is since I wear it all the time and due to how I wear it the odds of something happening to it are much higher.

I just want to see if anyone is in the same predicament as me???? Or do you insure everything even if you do not wear them often?

kstone · **Posted:** Thu Feb 17, 2011 7:03 am

mrcheatle wrote:

But if something happen with it in my house then my home owners will cover it.

Therein lies our confusion. If your home owner policy covers it, then that would mean that you've added it as a rider to your home owner policy, which by definition would mean that the watch is already insured.

So then your original is only in reference to a separate insurance policy to cover the watch outside your home.

Personally, I wouldn't take out a separate policy. You have to look at whether it's a necessary item to replace, can you afford to replace it yourself, and can make better use of the money now. You should only pay money for the insurance you need.

Roffensian · **Posted:** Thu Feb 17, 2011 7:32 am

kstone wrote:

mrcheatle wrote:

But if something happen with it in my house then my home owners will cover it.

Therein lies our confusion. If your home owner policy covers it, then that would mean that you've added it as a rider to your home owner policy, which by definition would mean that the watch is already insured.

So then your original is only in reference to a separate insurance policy to cover the watch outside your home.

Personally, I wouldn't take out a separate policy. You have to look at whether it's a necessary item to replace, can you afford to replace it yourself, and can make better use of the money now. You should only pay money for the insurance you need.

Or find out whether homeowner's covers it outside the home - mine does.

mrcheatle · **Posted:** Thu Feb 17, 2011 7:44 am

Roffensian wrote:

kstone wrote:

mrcheatle wrote:

But if something happen with it in my house then my home owners will cover it.

Therein lies our confusion. If your home owner policy covers it, then that would mean that you've added it as a rider to your home owner policy, which by definition would mean that the watch is already insured.

So then your original is only in reference to a separate insurance policy to cover the watch outside your home.

Personally, I wouldn't take out a separate policy. You have to look at whether it's a necessary item to replace, can you afford to replace it yourself, and can make better use of the money now. You should only pay money for the insurance you need.

Or find out whether homeowner's covers it outside the home - mine does.

That is a good point, thanks Roff

Kid Vegas · **Posted:** Thu Feb 17, 2011 8:40 am

Speaking of......would you even take one to a Third World vacation spot at all? i.e. Mexico, DR, etc. Those places are not St. Bart's if you know what I mean.

mrcheatle · **Posted:** Thu Feb 17, 2011 9:55 am

Kid Vegas wrote:

Speaking of......would you even take one to a Third World vacation spot at all? i.e. Mexico, DR, etc. Those places are not St. Bart's if you know what I mean.

Took my CE to the Riviera Maya...no problem at all. My World on the other hand...NOPE

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