Own a valuable watch? Here’s a safety warning

Have you heard of the ‘Rolex Rippers’? They are a global phenomenon. They are gangs who eye up Rolex owners and relieve them of their watches using some pretty wily tactics.

Here is a true story that epitomises the ‘Rolex Ripper’…

A director of an insurance broker (not one of ours!) spoke to us about a policy to protect his home and a valuable, quite a bulky watch but decided not to go with us. He found his standard household policy to be cheaper; it even covered the watch whilst he was away from home.

So, he went on a golfing trip with friends and on the first day, realised he had a bit of difficulty with his golf swing whilst sporting his large watch. So, he took it off, and put it into his golf buggy along with his credit cards.

Golf courses are notorious places for ‘Rolex Rippers’ and during the round, he was shocked to find that some friendly, chatty ‘fellow golfers’ had used sleight of hand to take all his credit cards and, you’ve guessed it, his watch.

The insurer refused to pay his claim, he has since come back to PWI and insured his valuables correctly under a warranty free policy which would have covered this..

There are two morals to this story:
• Beware ‘Rolex Rippers’, and
• Get your watches and other valuables properly insured through PWI, because we really know what we are doing.

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