Rolex Watch Damaged In Motorcycle Accident?

[florida]

I was involved in a motorcycle accident that damaged my Rolex watch.

I was not at fault and the driver of the car that hit me has insurance and that carrier has accepted responsibility for the accident.

A Rolex dealer has stated that it will cost $16,000 to repair my watch. The same dealer says the actual value of the watch prior to the accident was $9,500. The insurance company is offering to pay me $9,500 (actual cash value)and they will take the watch. The dealer tells me the watch is worth $3,000 in it's present condition. A new Rolex like the one I have is $25,000 retail. I want to keep my watch and have it repaired.

What might my options be?

Thank you.

 

[PILawGirl]

Think of it this way....

Everything loses value, watches, cars, houses, etc. Nobody is going to give you 50k to repair a car that is only worth 40k. Same with the watch. I suggest searching the internet and getting comparables, if you can come up with a few used Rolex watches that are as just like your old one for more than $9,500, turn those into the insurance adjuster, maybe they will give you more than the original $9,500 offer.

Don't count on getting more than the ACV or having the insurance company pay the $16,000 to fix it. Will never happen.

 

[Duranie]

You are entitled to the watch's value at the time of the accident. The insurance company is not going to pay 16k for a watch that is worth 9k. Not gonna happen.