#USA #New York #WAX Collect #WAX Flex™ #Luxury Insurance

WAX Collect Launches WAX Flex™: A Revolutionary Modular Watch Insurance Solution

In a groundbreaking move for the InsurTech industry, WAX Collect has launched WAX Flex™, the first modular insurance product specifically designed for watch collectors. This innovative insurance solution allows collectors to tailor their coverage based on their unique needs, risk tolerance, and budget.

A Game-Changer for Watch Collectors

Traditionally, watch collectors have faced a one-size-fits-all approach to insurance, where a single policy often lumped together different types of watches, regardless of their individual usage or value. With WAX Flex™, collectors can now select various coverage options tailored to their specific pieces, whether it’s a daily wear watch, a travel piece, or a prized grail stored safely at home.

Rich Vinhais, CEO of WAX Collect, expressed the company's commitment to addressing collectors' concerns: "We spent five years listening to collectors, and we've learned that serious collectors care deeply about pricing and want flexibility. They prefer investing in their next piece rather than in insurance premiums, while ensuring maximum protection from risks such as theft, damage, or natural disasters. WAX Flex™ is our answer to this demand."

Features of WAX Flex™

WAX Flex™ stands out with several key features that enhance its value:

• - Customizable Coverage: Collectors can pay only for the protections they choose, utilizing three key levers:

- Optional Add-Ons: Coverage options like Checked Baggage and Unattended Auto can be added based on the risk exposure of the collector.
- Market-Value Protection: If an item appreciates in value, collectors can opt for payouts of up to 150% of the scheduled value at the time of loss.
- Multi-Category Discounts: Insuring multiple collecting categories allows collectors to benefit from improved rates.

• - Flexible Structure: With coverage options available for schedules of three or more items, collectors can mix and match their insurance needs effortlessly.
• - Strong Partner Backing: WAX Flex™ is underwritten on surplus lines paper supported by an AM Best A+ rated carrier, ensuring reliability and worldwide coverage for collectors.

Additionally, for those who prefer comprehensive coverage, WAX Classic remains available, allowing collectors to choose or combine plans as per their lifestyle and collection needs.

Supporting Collectors and Their Businesses

WAX Collect is not just focused on private collectors; it also offers commercial insurance tailored for retailers, dealers, and marketplaces. As many collectors are also business owners, they expressed the necessity for robust insurance coverage to protect their ventures. As a result, WAX has established a platform designed to safeguard both collectors and the businesses that support their hobbies.

About WAX Collect

Founded with a mission to cater exclusively to luxury assets and collectibles, WAX Collect serves over 10,000 collectors, boasting nearly $2.5 billion in cataloged collections. The company stands out with over 150 partner agencies, expanding its reach and support for the collection community.

In conclusion, WAX Flex™ is set to revolutionize the way watch collectors approach insurance, providing a tailored, affordable, and reliable solution that prioritizes each collector's unique journey. With WAX Flex™, collectors can finally have the peace of mind to enjoy their passion while securing their investments.

For more information on WAX Collect and its offerings, visit waxcollect.com.