You cover the best topics! Really enjoyed this and learned from it. I paid 150 for my appraisal for 2 Rolex pieces. I still don’t have insurance but am looking.
I happen to have State Farm too and you are 100% correct on it. I think that most of insurance companies having both renters and homeowners policies having like 2K coverage for jewelry, watches and possible cash. Anything more than that will needed to be insured separately or added to your original policy just like sewer back up and it also varies trough different states.
I have Jewelers Mutual. There was a Sothebys Auction exec a few years back who decided to keep them in the bank safe box. Couple hundred watches. Vast collection. He hadn’t been to the box for a couple years. When he arrived, the bank had cleared out the box for non payment of box rental. Watches put in escrow storage. Whoops! Bank mistake. The Sothebys guy lost several of his watches from theft in escrow. Bank has a paltry coverage detailed in the box T&C. Forget the safe box route if even the auction expert gets the shaftaroo.
