How Should I Insure My Watch? Standalone vs. Contents Cover

What is watch insurance?

Standalone watch insurance policies are specifically designed to cover your watch(es) against risks like loss, theft, and damage. So that if you robbed or you accidentally crack the face you can claim on your insurance to either get a replacement or get it fixed.

These policies particularly benefit those with high-value watches or collectors with valuable watch collections.

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Additional coverage – A standalone policy may be required if your watch cannot be included on your contents insurance policy as either it is not accepted under the policy or the watch(es) exceed policy limits of the policy.

Tailored coverage – A standalone policy can be customised to fit the specific needs of your watch or collection, offering specialised protection beyond what general home insurance provides.

Is it worth the extra cost?  – For many, this level of protection offers peace of mind, but the premiums can be considerably higher than adding your watch to a home contents policy.

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Doesn’t my contents insurance cover my watch?

While most home contents insurance policies do offer coverage for personal items, there are limitations when it comes to high-value items like expensive watches:

Exceeds coverage limits – Many home insurance policies place a cap on single-item coverage. If your watch exceeds this limit, you may find yourself underinsured as the watch would not be able to be added to the policy.

Some cover is excluded – Common exclusions in contents policies include accidental damage or theft/loss outside of the home. This would leave a gap in your coverage, particularly if you regularly wear your watch day to day, as it would not be insured outside your home.

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Potential drawbacks of standalone watch insurance

While standalone insurance offers specialised protection, it’s not without its downsides and considerations:

Higher premiums – Specialised coverage often comes at a cost. Standalone policies typically charge higher premiums compared to adding your watch to a home contents insurance policy. They often also charge admin fees for managing or putting the policy in place.

Limited coverage – Some policies may restrict certain types of damage or loss, especially outside specific locations like your home.

Lack of flexibility – If you frequently buy, sell, or upgrade your watches, standalone policies may require frequent updates, adding administrative costs and potential fees.

Coverage gaps – Managing a large collection with standalone policies can be complex, increasing the risk of accidental gaps in coverage.

Administrative burden – Juggling multiple standalone policies for different watches can become time-consuming and cumbersome.

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Alternatives to a standalone watch insurance policy

If standalone watch insurance seems costly or complicated, there are other options worth considering:

Upgrade your home contents cover
Some insurers allow you to increase your coverage for specific high-value items, such as watches.

This can be a convenient way to protect your collection without managing separate policies, but it might not always offer the tailored protection of a standalone policy and there may still be some cover exclusions.

Switch to a specialist contents policy with high-value item cover
Consider a specialist contents insurance policy that is designed to include cover for all high-value items, including watches.

This is more cost-effective than having multiple standalone policies and more convenient to manage.

It gives you better cover, with worldwide cover for theft, loss or damage and can also insure all your other personal items together under a single policy.

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Explore rivr’s high value contents insurance

Protect your watches and all your most prized possessions together under a single policy with rivr contents insurance