Angelo writes:
What about insuring collections? I don't have enough valuable watches collectively to make it worth adding to my homeowners insurance or taking out a policy on the watches. Also, I have a very adequate safe in my home that could fit a few expensive watches if I'm on vacation or something. But with larger collections like yours, especially with so many watches that sell for over $200.00---it starts to really add up. Do you have these insured? If not, I would strongly consider getting a fire rated home safe that could fit most of your collection. A really good safe, installed, can be had for under $1000.00. I'm not saying you'd need to keep your collection in the safe at all times....but for vacations weekends away or something-----locking them up might be a good thing.
At the very least, take photos of the collection and keep documentation in a file. If there were to be a fire or burglary, maybe your homeowners or renters insurance would help. Sometimes though----they want collections listed separately and you pay a little more.
Posted by: Angelo | October 23, 2012 at 05:18 AM