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Adding your watch to your home insurance

Adding your watch to your home insurance

A nice watch can be one of the most expensive things you own. So if your watch is worth a lot, you should make sure it's properly insured. Find out if your home contents insurance gives you the right level of cover for your watch.

Chris King
From the Home team
minute read
posted 17 FEBRUARY 2020

Does my home contents insurance cover my watch?

It might. To find out, check the single article limit on your policy. This is the maximum value an item can be worth before you need to add it individually to a policy to ensure it's covered. This limit can be £1,000, but does vary.

If your watch is worth more than the single article limit, then ask your insurance provider to add it as an individual item to your home insurance policy. If you're yet to get home insurance, you'll be asked to list valuable items when getting a quote. At Compare the Market we ask you to list valuable items worth more than £1,500 to your quote.

What should I look out for in my policy?

Even if you think your watch is covered by your home contents insurance, it's best to carefully check the terms and conditions of your cover for:

You can get extra peace of mind by naming your watch as a specified item as part of your home contents insurance cover. If you specify the exact value and have a valuation certificate or receipt, you'll know that you're adequately covered.

Do I need to get my watch valued?

You should get your watch valued regularly – a simple watch from the 50s could be a much sought-after item today and the price will reflect that. Make sure you keep the valuation certificate safe so that you can claim enough back to replace your watch.

Will my watch be covered outside of the home?

Most home contents policies don't cover your goods outside of your home unless you have added personal possessions cover. This covers you against loss or damage to items you normally carry with you when you leave your house. Remember though, if your watch is worth more than the single article limit, you'll need to add it individually to the policy and state you wish to take it outside (if you intend to do so).

Make sure you know how claims might affect any future claims discount on your home contents insurance.

Compare costs for personal possessions insurance

If I accidentally step on my watch, will it be covered?

Many basic home insurance policies don't include accidental damage cover. But don't worry, you can usually add this cover for a small increase in cost.

Compare accidental damage insurance

Is my watch covered when I'm on holiday abroad?

Some policies may cover you if you lose your watch abroad. However, there are often limitations and cover may depend on whether you're staying within or outside the EU, and the length of time you're going to be away. If in doubt, make sure you check with your insurance provider.

If your provider doesn't offer the right level of cover for you, consider getting travel insurance.

Compare travel insurance

Will I be covered if my watch gets stolen?

Cover for theft is generally included as standard as part of a home insurance policy – this is theft from within the home. If your watch is stolen (or lost) when you're out and about, then you're more likely to need personal possessions cover if your watch is worth more than the single article limit, you've declared you're going to take it outside the home and you've added it individually to the policy.

Watches are easy to steal and sell on; they're also small and easy to lose so are usually considered to be a high-risk item. Watches worth more than £1 million in total were stolen in central London in the first quarter of 2018, an officer in the Metropolitan Police's flying squad told the Financial Times. This includes raids on both shops and homes. Rolex is the most stolen make, followed by Omega, Breitling, Tag Heuer, Breguet, Cartier and Patek Philippe, according to the officer.

A Watch Register has been set up, similar to the Art Loss Register, to help record losses and to return any watches that are later found to their rightful owners. See more on the Watch Register.

How much will it cost to add my watch to my home insurance policy?

It typically doesn't cost much to add your watch to your home insurance policy. The trick is to know which section of cover to add it to. Remember Compare the Market asks you to add individual items worth more than £1,500 to your quote, and we'll also ask you to say if you want to take the watch outside or not. If your watch isn't worth £1,500 and you want to take it outside, make sure you have added personal possessions cover.

Compare home insurance quotes from a range of providers with Compare the Market – there's no obligation to buy after you receive a quote. It's as simple as setting the time on your watch.

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