Watch insurance is a type of insurance designed to protect the value of your watch by replacing it or repairing any damage. Insurance for your watch can be found in many ways, such as through home insurance, contents insurance, single item insurance or specialist watch insurance.
Contents insurance
A contents insurance policy is a type of home insurance that protects your belongings (contents within your home), including jewellery and watches. It automatically covers watches up to a certain limit. If the value of your watch exceeds this amount, you can always add more cover for specified personal effects. You might also want to add on portable contents cover so that your watch is covered outside of your home.
Home and contents insurance
Cover works in the same way as contents insurance; however, you get the benefit of protecting the physical structure of your home as well. This is mainly useful if you already have a home and contents insurance policy. You may have cover and not even know it, so it's best to check. While you're at it, check to see if you're happy with your home insurance premium – if not, it might be time to switch.
Single item insurance
If you don't own anything else of huge value and you want cover for your watch only, single item insurance could be the right option for you. It says it all in the name, you insure specific items only. Make sure you compare it to the cost of other insurances though since you might get better value out of a home insurance policy.
Specialised jewellery and watch insurance
There are a few insurers out there, like Q Report and JewelCover, that specialise in insuring jewellery and watches. You'll probably have to pay a little more for this specialised insurance since it also offers things like valuations of your watch and the ability to choose your own jeweller if your watch needs replacing or fixing.
You can always try to switch up your home and contents insurance to see how much you can save, while adding cover for your watch. Otherwise you can call your insurer and ask it to add cover for your watch on your existing policy.
We can help you figure out how to get the best cover for your watch, but there's no one-size-fits-all insurance policy. You'll also need to think about what's going to be the best policy for your situation.
In our opinion, the best insurance policies for watches will have the following benefits:
If you're thinking about getting home insurance to cover your watch, it might be helpful to look at what makes the best home insurance policies as well.
Specialist watch insurance and home insurance policies can provide cover for the following:
Weighing up the pros and cons can be a helpful way of working out if watch insurance is for you.
All policies have exclusions. Your watch most likely won't be covered for the following:
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