Insurance for Watches
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  1. #1
    Member El-Duderino's Avatar
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    Insurance for Watches

    I am sure most of you probably already know this but I thought I'd bring it up just in case any of you are new to watch collecting like me and didn't realize your current insurance wouldn't cover your watches in a worst case scenario.

    If you are buying one or more expensive watches chances are you need a Personal Articles Policy, sometimes called a Jewelry Policy or Personal Property Policy.

    Without that additional coverage, if something were to happen to your watches, you may have to meet your homeowner's deductible and even then it might only cover loss up to say $1,500 on a single item.

    Depending on the terms and amounts of the coverage, the annual premium should cost around .5% of the value of your watches with full replacement coverage and no deductible. This policy should have you covered for theft/damage in the home as well as theft/damage outside of your home.



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  2. #2
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    Re: Insurance for Watches

    I had to specify my Omega Speedy Pro and Rolex GMT BLNR as my insurance only covered unspecified items up to £1,500 per single item.

  3. #3
    Moderator at Large stuffler,mike's Avatar
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    Re: Insurance for Watches

    Not valid for the country I live in. You should be a bit more specific.
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  5. #4
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    Re: Insurance for Watches

    Sounds about right, I have a jewelry policy for my watches. No deductible, full replacement with a new watch. Seemed like a reasonable idea. My mother had the same policy for her jewelry. Lost a very expensive ring. Had a check in hand within a couple of weeks.

  6. #5
    Member azjb's Avatar
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    Re: Insurance for Watches

    I have a Valuable Personal Property policy "VPP" through USAA for such purposes. I had to use it once a few years ago for a necklace that my wife lost. It is pretty inexpensive and they paid a fair price without any issues.

  7. #6
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    Re: Insurance for Watches

    Good reminder to add some recent acquisitions. Thanks.
    Omega | Rolex | Panerai | Tag Heuer | Grand Seiko | Longines | Baume & Mercier | LIV

  8. #7
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    Watch Insurance?

    I don't buy high priced watches, but I do have plenty of watches (about 30 wrist and 20 pocket), with replacement costs of a few highs at £1000+ to plenty of lows at £75+ with an average of around £200 (200 X 50 = approx £10,000 as a quick calculation). If someone does break in or my house bursts into flames or whatever, how do I stand? What do you guys do with a changing watch collection? Do you take additional insurance or just hope your home contents cover your collection? I'm in the UK (obviously £) but how do you guys cover yourselves in case the worse happens?

  9. #8
    Member NerdThing's Avatar
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    Re: Watch Insurance?

    Your best bet, really, is to speak to your insurers first and foremost. They should be able to advise you how to cover your collection. You'll need to ensure you have plenty of cover to 'replace' the items should the worst ever happen. Better to over cover as opposed to under cover.

    Take photos of all the items, keep receipts and valuations as necessary. All will help if you do suffer a loss.

    I'm afraid I've got 30 years + experience of dealing with claims in the UK ( sad, I know!) Give me a shout if you want specific help.

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  10. #9
    Member Pastextian's Avatar
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    Re: Watch Insurance?

    Make sure you keep your door locked at all times also. Pretty sure you won't be covered if they find that your door was left unlocked.

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  11. #10
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    Re: Watch Insurance?

    Quote Originally Posted by NerdThing View Post
    Your best bet, really, is to speak to your insurers first and foremost. They should be able to advise you how to cover your collection. You'll need to ensure you have plenty of cover to 'replace' the items should the worst ever happen. Better to over cover as opposed to under cover.

    Take photos of all the items, keep receipts and valuations as necessary. All will help if you do suffer a loss.

    I'm afraid I've got 30 years + experience of dealing with claims in the UK ( sad, I know!) Give me a shout if you want specific help.

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    My home insurance (contents) is a bit vague on watches, things like up to a thousand pounds per watch, but doesn't mention say ten watches at £800 each, or a pocket watch I bought for fifty quid thats now worth X and is now almost irreplaceable like for like (so may be worth X, say £300 or more) but can't be replaced?

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