Expert: Melvin Mills - 7/17/2009

Question
I have a gold pocket watch made by John Kellie of Liverpool. It was given to my
great uncle on his retirement from British Railways in the 1960's. It is inscribed
on the back with his name from british Railways. Should I get it insured? If so,
what amount do you recommend?

Answer
Michael,

Wow, that is super.  Make sure you right down the history of your great uncle, such as date of birth, where he lived worked, etc.  That will add to the sentimental value for the next person that receives it.

To insure or not.  That is tough.  If you don't plan on carrying it, there is probably no reason to insure it.  Also, your homeowners policy will possibly cover this so you should check.  In the U.S., homeowner's policies cover jewelry up to $2,000 so many watches are covered automatically.

Kind regards,

Melvin