A watch enthusiast came into some money and decided to invest some of it in three iconic watches confident that they would increase in value. Each cost £25,000 new.
When it came to insuring them however, his home policy provider - would not cover the watches.
So, he went in search of separate insurance and was shocked to find that it would cost him £3,000 a year and would only cover on a ‘new for old’.
As these watches were an investment, he clearly needed to be able to realise their replacement value in the event of a loss.
He found PWI through our website and after getting to know more about him and his lifestyle, we were able to move him to one of our home insurance policies which included replacement value cover for his three watches.
The premium for the whole home policy worked out less than the jewellery only policy, leading to one very happy – and relieved – customer.