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| Insurance Valuation https://breitlingsource.com/phpBB2/viewtopic.php?f=1&t=36524 |
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| Author: | mister_mustard [ Wed Jan 18, 2012 10:48 am ] |
| Post subject: | Insurance Valuation |
I just thought I'd share this in case anyone's in the same situation as me as I saved some money and being temporarily-watchless (but nearly didn't). It was time to do the annual buildings and contents insurance just before Christmas and I switched insurers which saved me a decent amount on the premium. The only problem was the new company wanted an up-to-date valuation on some items. I called a local AD about valuing my old Chrono Evo and was told it'd take 1-2 weeks and cost 1% of the valuation price. Ordinarily I'd have put up with this but the holidays had delayed me getting it sorted and the insurers wanted a valuation within the week or they'd cease to insure the watch (which, knowing my luck, would've guaranteed something happening to it). So, I called Andrew Michael's jewellers who are about an hour's drive away because I'd bought a couple of straps from them in the past and been lucky enough to visit BUK with them. To cut a long story short, I went to see Andrew today and he did the valuation in 30mins and for a lot less than 1% of the value. The only downside was that 30mins wasn't nearly long enough to drool over the HUGE collection on Breitlings they've got. They almost take up the whole shop. If anyone is located near Newark and needs anything Breitling-related I highly recommend a visit to Andrew Michael's - thanks guys. Mods: not sure if this would be better in the Feedback Forum or AMOC section but didn't really seem to fully fit in them. |
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| Author: | cigar-aficionado [ Wed Jan 18, 2012 11:41 am ] |
| Post subject: | Re: Insurance Valuation |
Will the insurance work on a new for old basis, ie full replacement costs? I know I have my Chronomat Evo listed on my insurance and they just wanted to know serial number etc and what I valued it at...would not know how they would replace an old model now? |
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| Author: | wrangler [ Wed Jan 18, 2012 1:04 pm ] |
| Post subject: | Re: Insurance Valuation |
It should go by the language in your policy, which may differ between companies, perhaps even between insureds of the same company. I would imagine you can get the type of coverage that you're willing to pay for. |
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| Author: | mister_mustard [ Thu Jan 19, 2012 11:55 am ] |
| Post subject: | Re: Insurance Valuation |
cigar-aficionado wrote: Will the insurance work on a new for old basis, ie full replacement costs? I know I have my Chronomat Evo listed on my insurance and they just wanted to know serial number etc and what I valued it at...would not know how they would replace an old model now? The company say it's new for old but, as you say, the Evo's discontinued so would be hard to replace. Andrew Michael's had a new version of mine in stock so they'd be the first place I'd check. That said; mine was a wedding present from the wife and that could never be replaced so I really hope nothing bad ever happens to it. |
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