We all have Luxury items that need protected storage. Some of us store them in our homes while other take use bank safety deposit boxes. Let us examine the advantages and disadvantages of these methods of insured storage. We will use the example of Bob the Luxury watch owner

Insured Home Storage

Meet Bob, Bob loves luxury watches he owns quite a few and likes to wear a different one every three days. In order to protect his luxury watches Bob stores them in a safe at home. In addition Bob also places these items under his home owners insurance and Bob hopefully lives happy ever after.

What are the issues?

If Bob’s house is broken into and his Luxury watches are stolen Bob is in a big quagmire. Bob’s home owners insurance will only cover a small amount of his losses. Bob hates his home insurance company and sues them. The outcome will be decided in court.

Insured Safety Deposit Box

Meet Bob, Bob owns a large collection of Luxury Watches. In order to protect his luxury watches Bob stores them in a insured safety deposit box in his bank. Bob loved to wear his luxury watches however he is unable to change them often because he has to drag himself down to the bank in order to change them. Bob lives life Bob hopefully lives happy ever after.

The Issues

Since the bank insures his items Bob is protected however he must deal with the annoyance of having to work around the bank’s time if he wants a certain luxury watch.

Conclusion

Do what ever works out better for you and enjoy wearing your luxury watches!

We have written about the Bentley Luxury Watch safe, however what about luxury watch insurance? We have health insurance , auto insurance and home owners insurance (to name a few) so why don’t the insurance companies make a luxury watch insurance.

Now i put my Luxury Watches under my Home owners insurance but i would like to be able to separate them….