Introducing the WAX Insurance app
WAX Insurance announced the launch of its mobile app meant to insure watches and other collectibles. Users can take pictures of collectibles or luxury goods that they own and have them insured, without needing an in-person appraisal.
The company claims its proprietary data sets and a team of experts are able to authenticate and value items for fair market value via high res images, reducing their dependency on third party appraisals.
Coverage is currently available in NY, NJ, CA, PA, CT, IL, TX, AZ, CO, GA, OR, NC and DE. Features and benefits include:
- Coverage for collections up to $1,000,000 (higher limits available)
- $0 deductible option
- No appraisal required at application
- Easy mobile app to quote and bind policies
- A.M. Best “A” rated carrier
“From day one, WAX has been for collectors, by collectors. Our goal is to help protect collectors from the thing that they dread the most – having their prized possessions stolen. The WAX app makes insurance a delightful experience. We empower collectors to do what they do best – collect.” – WAX CEO Calvin Bradley
WAX also announced seed funding from a number of luxury industry insiders and collectors such as Phil Ogle, North American Director for Swiss watch company, Urwerk Geneve, NFL player Ndamukong Suh, NBA player Josh Hart, Jeremy Levine, former CEO of Draft, and others.
Get a feel for its UI below.
In related news, New York City-based watch website Hodinkee is now offering customers an online platform to purchase watch insurance from Chubb.