What value should I set my watch at, MSRP or Market Value?Topic: HODINKEE Insurance
If you are only insuring one watch through HODINKEE Insurace, we would recommend setting it at its full market value as the most you would be paid out in the event of a loss would be the policy limit - or the total coverage set for the one watch.
On the other hand, if you are insuring more than 1x watch, you begin to spread the total coverage amongst multiple watches rather than just one watch, which allows additional coverage per watch, up to 150% of the current market value.
For example, if you have 3 watches that each are valued at $10k in the secondary market, they would each be protected up to $15k, but never more than the policy limit (the total coverage - $30k in this case).
HODINKEE Insurace is all digital, you also have the flexibility of adding, removing, and updating values at any time throughout your annual term. If you increase coverage, you would pay a prorated balance due, and if you decrease coverage, you would receive a prorated refund. Just be sure to always click on Request Quote to see your updated premium and any balance due or prorated refund, and then Submit to confirm those changes.