We have all heard the old adage “Time is money.” For this Contents Claims Solved, we may need to change that adage to “For some people, it takes a whole lot of money to keep time.”

A leading insurer consulted contents claims specialists on a claim regarding a very rare watch made by a renowned Swiss watchmaker. The carrier wrote an agreed value policy for $611,000 with a provision that it would cover any appreciation in value beyond the agreed amount if market conditions caused an increase in value. The watch was involved in a loss and the insured’s jeweler located a duplicate of the watch that had been pre-owned with a price of $750,000. The carrier needed to know if the $750,000 claim was reasonable and accurate.

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