What is Watch Insurance?
Watch insurance is a specialized policy designed to cover loss, theft, or damage to your valuable timepieces. Unlike your standard homeowners or renters insurance—which often has low limits for personal property and may not cover the full value of your watch—a watch insurance policy offers much more comprehensive protection. Most policies pay out for repair or full replacement value, ensuring you aren’t left with a major financial loss if something unexpected happens. This type of insurance is especially important if your watch is worth more than $1,000, or if it’s a limited edition or collectible piece.
What Types of Watches Need Insurance?
Not every watch needs its own insurance policy, but if you own a luxury brand like Rolex, Panerai, Breitling, or even a high-end Apple Watch, it’s worth considering. Many people choose coverage for family heirlooms, rare or vintage watches, and any piece with a value exceeding what their homeowners policy would cover—typically about $1,000. Specialty insurance can also make sense for anyone with a growing collection or who travels often with their valuables. In short, if the thought of losing your watch makes you wince, a separate policy is likely a good idea.
What Does Watch Insurance Cover?
Watch insurance replaces or repairs your watch against a specific list of perils detailed in the policy. Some insurance providers cover less than others, so it pays to check what’s covered before you buy a watch insurance policy. Most watch insurance policies offer some form of coverage for theft, damage, loss or disappearance.
Remember, your jewelry insurance quote should include the full range of insurance you will get, whether you’re covering a watch collection, a mass of fine jewelry, your auntie’s diamond ring, an engagement ring before you pop the question, the wedding ring upgrade you’ve always wanted and more.
What Isn’t Covered?
Watch insurance is a great coverage to have in place, especially if you own an expensive or a collectible watch. However, you should keep in mind that watch insurance won’t cover every type of loss.
Watch insurance won’t pay for your loss in most of the following situations unless you have added extra coverage with a policy rider. Some insurers exclude more items than others. Be sure to read your policy carefully to find out what is excluded. Here are the most common exclusions:
- Normal wear and tear
- Rodent infestations
- Leaving your watch in an unattended car
- Intentional acts
- Fraudulent sales
- Acts of war
Average Cost of Watch Insurance by Watch Type
You can expect to pay around 1% to 2% of the watch’s value for watch coverage per policy term. Here is the average cost per brand type:
| Watch Type | Average Cost of Watch Insurance |
| Rolex | $75 |
| Panerai | $65 |
| Breitling | $63 |
| Grand Seiko | $33 |
| Omega | $30 |
| Apple Watch Series 7 45mm Titanium | $13 |
Is Watch Coverage Worth the Cost?
Whether or not watch insurance makes sense depends on the value of the watch. It could make sense to insure expensive watches against theft and other losses, especially because a scheduled property watch policy is relatively inexpensive.
For insurance information and money matters, it always makes sense to visit Benzinga for expert advice.
Choosing the Best Insurance for Your Watch Collection
Protecting your valuable timepiece with the right watch insurance is a wise investment. The policies offered by the top providers reviewed here cover a wide range of perils, from theft and loss to accidental damage and even routine maintenance costs. With varying coverage limits, deductibles, and premium rates, you can find a plan tailored to your specific needs and budget.
Whether you own a cherished heirloom or a prized luxury watch, securing the appropriate insurance gives you peace of mind knowing your treasured timepiece is safeguarded against life's uncertainties. Don't let an unforeseen mishap leave you without your beloved watch.
Frequently Asked Questions
Will homeowners or renters insurance cover my watch if it’s stolen?
Homeowners or renters insurance will provide some coverage for personal items, but it is limited. You will likely only receive $1,000 worth of coverage unless you add on more coverage with an insurance rider.
If the face of my watch gets chipped, is it covered by jewelry insurance?
Yes, if your watch face gets chipped or otherwise damaged, jewelry insurance will cover the cost to repair it.
If I have a watch warranty, do I still need watch insurance?
A watch warranty should not be confused with watch insurance. The manufacturer’s warranty has limitations and expires after a certain amount of time. For expensive watches, you may need protection well beyond the watch’s warranty expiration date.
