A simples guide

Adding a watch to your home insurance

Your watch can be one of the most expensive things you own. So if your watch is worth a fair amount, as well as having sentimental value, you should make sure it is properly insured. So find the right level of cover for you at a good price and take ease in knowing that your pride and joy is fully covered.

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Does my home insurance cover my watch?

Insurance for watches can be a complex issue, because their value can go beyond the standard home contents insurance single article limit. Most home contents policies don’t cover your goods as soon as you step out the door unless you have added personal possessions cover. Other policies will cover you up to a set limit at home but that can be as low as £1,500, unless you notify your insurer and specify an individual item, like your watch, in which case it can be higher.

That limit could be short of the price of a replacement watch so that’s why it’s important to call out any specific high value items. Accidental damage can be another thorny issue as a seriously damaged watch can cost a lot to fix and if jewellery is specifically excluded from accidental damage repairs then you can end up footing the bill. Other policies don’t cover you if you lose your watch abroad. So even if you think you’re covered, it’s best to carefully check the terms and conditions of your home contents insurance cover for:

- Item exclusions & limits

- Accidental damage clauses

- Away from home cover & limits

New for old cover

- Your excess and no claims

You can get extra peace of mind by naming your watch as a specific high value item as part of your home contents insurance cover and specifying the value so that you’re adequately covered.

If your basic contents cover doesn’t provide the level of cover you would like to be for your precious timepiece you can usually pay a little extra for accidental damage cover which could protect your watch if you dropped it down the toilet, or knocked it and cracked the face for example. There is also an option to add a further layer of cover called personal possessions insurance, which would cover you if your watch was taken out of the home and was stolen or damaged, with certain exceptions – it’s best to check the T&Cs.

Make sure you are aware of how claiming for loss or damage to your watch might affect future claims discount on your home contents insurance premium when you come to renew. 

What will you be covered for?

Once you’ve specified value of the cover you want for your watch, it’s not just a case of looking at the price of your insurance premium. You should check the level of cover too, because the cheapest insurance quote might not always be the best in terms of service.

High-end watches are a target for criminals because they are relatively easy to steal, transport and sell on. So if you are burgled, your watch can be one of the first things to go, people are even targeted for street robberies thanks to the watch on their wrist.

So check for extensive coverage against theft and also for loss. A watch is small and it is easy to leave it somewhere thanks to a lapse in concentration.

You should also get your watch valued regularly, as you might be surprised to find you have an appreciating classic. A simple watch from the 50s could be a much sought after item today and the price will reflect that. Gold and precious stones have appreciated, too, so make sure you get regular valuations and keep the certificate so you can claim enough back to replace your watch if the worst happens.

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How affordable is it to add on a watch to my home insurance policy?

It shouldn’t add much additional cost to your home insurance policy, so don’t you think it’s about time you checked our quotes? You can also add other valuable items to your policy to cover them while you’re out. You can compare leading  home contents insurers with us without any obligation to move forwards, it’s as simple as setting the time on your watch.

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