Insurance companies for watches cover watches against a specific list of dangers. This frequently includes things like damage, theft, loss, and disappearance.
Check your watch insurance policy for exclusions because some policies cover less than others.
For instance, some policies specifically forbid damage or loss in certain circumstances, such as an infestation of rodents, general wear and tear, intentional acts, and fraudulent sales.
Call the company or look through your policy documents if you are unsure of what your policy covers.
The most important factor in determining the cost of watch insurance is the value of your watch.
For instance, the cost of insurance for a $300 watch is significantly lower than the cost of insurance for a $10,000 watch. The cost will also be determined by the provider you select, your coverage limit, and location.
Jewelers Mutual says that its policies typically cost between 1% and 2% of the watch’s value to give you an idea of what you might pay. This means that insuring a $10,000 watch could cost anywhere from $100 to $200, whereas insuring a $4,500 watch could cost anywhere from $45 to $90 per year.
