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Things To Consider: Should My Watch Be Insured?

Should My Watch Be Insured

You’ve just bought your first watch, not only do you need to know how to use and care for it, but you also have to learn how to maintain and protect your investment in case something goes wrong. High-end watches are expensive investments that can be easily misplaced, stolen, or destroyed. That is why timepiece owners need to protect their valuable expensive watches with insurance. Although many people genuinely believe that their watches are protected by other types of insurance they may already have, highly expensive watches are usually not insured by homeowners or renters insurance. Even if they are covered by other plans, the protection is mostly restricted in quality and restricted at about $1,500 for a high-end piece, which won’t offer the expense of all collectible, antique, or designer watches. Here are some of the reminders you must take note of to make your watches protected in case unfortunate things occur. But you can always turn to product liability lawyer jackson wyoming for legal advice if you want to go that route.


You’ll need to purchase extra coverage to properly secure your watch or watch set. An endorsement, also known as a “floater,” is one possibility. An endorsement guarantees your watch, or any other item included in the agreement, explicitly. To ensure that you insure your jewelry for the right value, you can have it professionally assessed. A further insurance plan that will help cover your valuable items is umbrella insurance. Umbrella insurance is additional liability coverage that comes in if the homeowner’s insurance liability threshold is exceeded. Umbrella insurance will help cover your treasury bonds and personal belongings like your Rolex watch if you are the target of a major lawsuit.

Replacement vs. Reimbursement

A huge distinction is present between Reimbursement and Repair or Replacement. Many conventional insurance plans only cover the cost of repairing or replacing a damaged or missing watch. Be certain, though, that your insurance policy includes the actual rectification of your original product, as many plans that aren’t intended to cover watches or jewelry have a reimbursement cap. Many other homeowners’ insurance policies that cover jewelry replacement or repair specify which designated jeweler or repair service you must use to resolve your demand. You may want to look into a specialist jewelry insurance company that gives you the freedom and convenience of working from home.

Watch Insurance Providers

Here are the best watch insurance providers to give attention to aid luxury watch holders to protect their assets against possible theft or injury.

1. Jewelers Mutual

Jewelers Mutual has received an A+ Superior rating from insurance rating firm AM Best and has been in business since 1913. The company provides compensation for theft, injury, or loss, or disappearance, worldwide travel, and earthquake or flood-related issues of watches and other accessories.

The cost of a watch insurance plan is determined by the owner’s ZIP code and the watch’s value. The company’s website, for example, provides sample quotes for watches, such as $101 per year for a $7,000 watch in Dallas with a $100 deductible and $31 per year for a $2,500 watch in Denver with a $0 deductible. This equates to 1% to 2% of the retail value of a replacement product, which is comparable to the other companies to be mentioned.

2. BriteCo

BriteCo promises watch insurance worldwide in collaboration with a top-rated company which is both an AM Best A-rated and an S&P A+ rated, the HDI Global Insurance Company, that protects against loss, damage, theft, disappearance, rewards to others at a different location, and other benefits. Policies cost up to 125 percent of the appraised value of your watch for goods valued up to $50,000 per item, with a maximum detection limit of $150,000 per policyholder.

3. AXA

AXA, in collaboration with MiniCo Insurance Agency, is an AM Best A+ rated carrier for excellent watch collectors. It covers valuable items $1 million or more, with appraisals needed only for watches worth more than $50,000. Deductibles as low as $0 per incident or altercation are available. These considerations are what pushed them to the top of the list of high-end watches and jewelry.

Fire, accidental breakage, lightning, suspicious disappearance, water damage, loss in transport, and robbery are all covered by AXA. Policyholders can start the insurance claims by sending a fax, email, or call.


AM Best gives GEICO an A++ rating. Standard and Poor’s has also assigned it an AA+ rating.  It is the safest alternative for add-on coverage because, while the company does not offer a piece of standalone jewelry or watch insurance policy, customers who have GEICO liability insurance can append a jewelry insurance policy, incorporating coverage for watches, through a strategic alliance with Jewelers Mutual.

In A Nutshell

Keep your watch secure in the hotel room, protected while traveling. Your luxury watch collection should be stored in a high-quality safe that is padlocked at home. To help secure your watch collection, you should consider having a controlled home security device. This will decrease the chance of your watch being stolen while also lowering your homeowner’s insurance rate. You will have a sense of security by ensuring your watch and other valuables.

Also check – Things To Know from Rolex in 2021

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