Hey everyone, finally pulled the trigger on something I've been eyeing forever and got myself an Omega Seamaster as a New Year's gift. First time owning anything like this and I'm already paranoid about something happening to it lol. I have the box papers and receipt from the ad but I keep seeing people mention getting watch appraisals for insurance purposes. Asked my wife about it and she kind of laughed me off like I'm being ridiculous but idk man. Is getting a watch appraisal for insurance actually necessary or does the purchase documentation cover it?
My homeowners insurance has some jewelry coverage but I'm not sure if that's even enough for something like this. For those of you who've been through this like what did you end up doing? Did you get a separate policy or just add it to your existing insurance? And if you got it appraised, how much did that run you? Sorry if this is a basic question just don't want to be the idiot who realizes they should've done something differently after it's too late. Any advice appreciated!
Bought myself a watch for new years. Do i need appraisal for insurance?
byu/OkFuture6241 inInsurance
Posted by OkFuture6241
2 Comments
It is going to depend on the company and their guidelines and the value of the watch. Some companies might be fine with a receipt of purchase, but if it over their threshold, they might need an appraisal as well. Just call and ask.
This time of year, insurance people would send out letters to their clients about insuring loot received over the holidays. If you got it recently, they’ll normally ask for a copy of the receipt.