How to Insure a Watch in 2023: Best Insurance Providers & Tips

Written by – Updated on February 22, 2024
insurance paperwork and pen

As anyone who owns an expensive watch understands, it can be a significant investment that deserves special care and attention. Watch insurance is a way to protect your timepiece against theft, deterioration, and accidental loss – but with it comes questions regarding pricing, coverage, and which insurer is right for you.

In this guide, we explore the ins and outs of watch insurance in 2023 and share the top tips to help you make an educated decision before selecting a provider. From assessing the need for insurance coverage to comparing quotes from different companies and understanding what is and isn't included in the policy, this guide provides all the information needed to insure a watch with confidence.

Short Summary

  • Watch insurance is a specialized form of insurance designed to protect watches from potential risks such as theft, loss, and accidental damage.
  • Investing in watch insurance is recommended to safeguard valuable timepieces, with the cost typically ranging from 1-2% of the watch's value.
  • The top watch insurance providers of 2023 are Jewelers Mutual, WAX Insurance, AXA, HODINKEE Insurance, BriteCo and GemShield, with tips for insuring a watch including an appraisal, obtaining a personal articles floater, and regular maintenance.

What is Watch Insurance?

Watch insurance is a specialized form of insurance designed to protect watches from potential risks such as theft, loss, accidental damage, and mysterious disappearance. It is essential to secure a valuable item, such as a Rolex watch, against these risks as a standard homeowners or renters insurance policy may not provide adequate coverage for the full value.

When it comes to insuring a watch, there are several options to consider, such as home and contents insurance, specialized watch insurance, and self-insurance. Q Report specialized watch insurance provides coverage for Rolex watches and ensures their total replacement value in the event of loss.

It is important to check with the insurer before purchasing the policy to determine their requirements, as well as to have receipts, appraisals, and other important documentation for the watch.

What Watches Can Be Covered?

Luxury and premium watches, antique and vintage watches, and select smartwatches are all eligible for watch insurance coverage. Insurance policies for watches generally cover popular luxury brands, such as Rolex, Patek Philippe, Omega, Audemars Piguet, Breitling, Cartier, Hublot, IWC, Jaeger-LeCoultre, and Panerai. This ensures that your watch is protected in the event of any unexpected damage or theft.

It is essential to conduct periodic appraisals of luxury watches to guarantee that no additional costs are incurred when making a claim. Q: Report specialized watch insurance provides free revaluations of your luxury watch every 12 months, ensuring that you are always up-to-date on the current value of your timepiece.

Additionally, coverage limits and other details regarding the policy should be discussed with the insurer during business hours.

Is My Watch Worth Insuring?

Insuring a watch is a prudent decision, as it offers protection in the event of breakage, theft, or loss. If you would be unable to replace the watch and the loss would be emotionally distressing, insurance is an advantageous option.

High-end watches, such as Rolex models, may not be fully covered by standard home and contents insurance policies and may require additional insurance coverage. Watch insurance typically offers coverage for loss, theft, and damage to your watch and in some cases, the policy may also include the cost of repairs or replacement if your watch is damaged or stolen.

However, watch insurance generally does not provide protection for normal wear and tear, cosmetic damage, or damage resulting from intentional acts or negligence. Additionally, it may not cover any appreciation in the value of the watch.

Do I Need to Insure My Watch?

Watch insurance can provide a layer of protection for your valuable timepiece against unexpected occurrences, such as theft, loss, or damage. It is important to consider investing in watch insurance if the watch is valuable, even if the watch already has a warranty, as warranties do not cover losses or damages. Investing in watch insurance can offer a peace of mind and assurance that your watch is protected from any unexpected losses or damages.

Standalone watch insurance policies tend to offer more comprehensive protection than what is typically available through a homeowners insurance policy. Additionally, it is recommended to obtain a professional appraisal of your Rolex watch to ensure that you are not overpaying for insurance or underinsured in the event of loss or damage.

Does Homeowners or Renters Insurance Cover Watches?

Homeowners or renters insurance policies may offer some coverage for watches, however, the coverage is typically limited to $1,500. To ensure adequate protection for your watch, it is recommended to explore additional insurance riders. Standalone jewelry insurance or watch insurance policies typically provide coverage for mysterious disappearances of watches.

It is recommended to obtain standalone jewellery insurance for greater assurance as opposed to adding a rider to your homeowners or renters insurance policy.

What Does Watch Insurance Cover?

Watch insurance provides comprehensive coverage for your insured watch. This covers loss, damage, or theft of your watch, including accidental damage. It typically covers the cost of replacement parts or repair.

When evaluating watch insurance, it is essential to consider the coverage provided in the event of a loss, as well as the process for proving the watch was lost. Additionally, it is important to determine if the policy allows for repairs or replacements at the jeweler of your choice, and if there is coverage for any potential increase in value.

What Doesn't Watch Insurance Cover?

Watch insurance policies typically exclude certain events or situations from coverage. Exclusions from watch insurance typically include normal wear and tear, fraud, intentional acts, lack of maintenance, government seizures, and war-related damage. It's important to check with your insurance provider for a comprehensive list of exclusions. Being familiar with coverage limits and exclusions is essential to ensure that there are no unexpected outcomes when submitting a claim.

For instance, some policies may not cover certain types of damage or loss, and in other cases, some policies may not provide global coverage. Additionally, the extent of coverage and the exclusions associated with it may vary depending on the policy and insurer. Therefore, it is essential to review the details of a particular policy to gain an understanding of what is included.

How Much Does Watch Insurance Cost?

The cost of watch insurance is based on the value of the watch. Generally, the typical cost of watch insurance is in the range of 1% to 2% of the watch's value per policy term.

However, there are several factors that influence the cost of watch insurance, such as the type of coverage desired, the insurance provider chosen, the watch's value and more. To ensure you get the best rate and coverage, it is important to compare quotes from multiple watch insurance providers.

The source provides an estimate of the average cost of watch insurance for each brand. For example, insuring a Rolex watch can be expensive due to its high value, and the cost of insurance is contingent upon several factors such as the watch's value, the kind of coverage desired and the insurance provider chosen.

Best Watch Insurance Providers of 2023

When the cost of replacing or repairing a watch exceeds the cost of the watch insurance over a period of several years, it is advisable to invest in watch insurance. When assessing watch insurance providers, it is important to consider the cost of premiums, the range of coverage options, and the level of customer satisfaction.

Here is a list of the top watch insurance providers of 2023, their features, and pros and cons: Jewelers Mutual offers an all-risk policy that covers all risks, with the exception of those risks that are explicitly excluded from the policy. This policy makes sure that all kinds of watches are covered regardless of damage, theft, disappearance and loss. It also includes an amazing feature with the option of a $0 deductible anywhere in the world. The typical cost of this policy is 1-2% of the item's value.

WAX Insurance offers a comprehensive coverage program designed to safeguard your valuables, watches, jewelry and more against fire damage, water damage, loss or theft. This policy offers coverage up to 150% of the appraised value and is priced competitively with other companies in the market. The only potential downside is the requirement to download the mobile app in order to complete the application process.

AXA is the most suitable choice for insuring luxury timepieces. They offer coverage for watches valued up to $100,000 and their policy is tailored to suit the needs of the individual. It is also possible to add accidental damage coverage to the policy.

Hodinkie. Insurance provides watch insurance policies to protect against potential damages and losses. They offer a wide range of coverage options, including a zero deductible option, and their policies are tailored to the individual's needs.

BriteCo offers a zero deductible on their jewelry insurance policy. This policy typically ranges from 0.05% to 1.5% of the item's value.

GemShield watch insurance is also an option for those looking to insure their watches. They offer affordable premiums and a wide range of coverage options.

When selecting a watch insurance provider, it is important to research the customer service record of the provider and compare the coverage options available to ensure that the most comprehensive coverage is obtained at the most competitive price. Additionally, filing claims with a watch insurance provider should be simple and straightforward.

Tips for Insuring a Watch

Insuring a watch can be an important financial decision, as it provides protection against loss, theft, or damage. It is important to obtain an appraisal, consider a personal articles floater, and maintain the watch regularly.

Additionally, it is wise to check with the insurance company to determine the sub-limit for jewelry or watches under the personal property coverage. Regular maintenance of a watch is also essential in order to keep its value over time. By cleaning and checking the watch every one to two years, any potential damages can be identified and repaired before they become more costly.

Furthermore, it is important to store the watch in a secure location and keep receipts and certificates to ensure that it is properly insured. All of these steps can help ensure the watch is properly insured and that the policy covers any potential losses.


As an owner of a valuable watch needing protection, it is important to know the available insurance options to ensure your investment remains safe and secure. Watch insurance has become an increasingly popular option for safeguarding watches that cost a considerable amount of money or hold sentimental value, with coverage providing reimbursement in the event of instances such as theft, damage, or mysterious disappearance.

While there are many reputable insurance providers to choose from, including GemShield and HODINKEE. Insurance, understanding the limits of coverage and worth of a watch can be pivotal when determining the right provider and policy. Additionally, taking steps to safeguard a watch – such as ensuring an appraisal and obtaining a personal articles floater – can provide further security.

Whether the reason behind protecting a watch is to protect the monetary or emotional value, with knowledge and preparation, finding the best watch insurance for any situation is possible in 2023.

Frequently Asked Questions

Can watch be insured?

Yes, watch can be insured through your homeowners insurance policy, renters insurance or condo insurance policy. This will protect the watch against theft and loss, but there may be restrictions based on the individual policy.