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What is Watch Insurance?

Why do you need watch insurance?

Watch thefts are rising – as seen in this BBC documentary – and finding replacement watches is complex, with demand outstripping supply. Finding a policy covering a luxury watch for the retail price can be difficult.

A watch is considered a ‘valuable’ in a standard home insurance policy wording. A typical home policy will cover a watch for up to £10,000 inside the home but not automatically cover an item away from the house. You will need to add personal possessions cover for this, which increases the premium.

Standard policies may only replace your watch with a gemcard shop voucher instead of replacing it like for like or as a cash settlement. If you read your home policy wording back to back, you may realise you’re not adequately covered. It’s not worth the risk.

Our watch policies include:

  • The minimum age for stand-alone watch cover is 30.
  • Worldwide coverage is included as standard.
  • All risk covers accidental damage, theft, and loss.
  • Cover up to £1,000,000 with a stand-alone option or unlimited coverage on a high-value home policy.
  • Cash settlement or like-for-like replacement.
  • No excess to pay in the event of a claim.
  • Cover for a stand-alone watch or watch collections available.
  • Replacement of home safe if damaged as part of a theft.

Why choose Stanhope for your watch insurance?

  • We understand your luxury watch is one of your most prized possessions. Stanhope uniquely has a panel of stand-alone insurance options, whereas our competitors typically only have one. Stanhope also has a comprehensive range of high-value home insurance products. Alongside our expert team, we are uniquely placed to give you a choice of solutions alongside tailored advice.
  • You can choose between a standalone watch Insurance policy or inclusion within our High-Value Home Insurance policies. Our experienced team will help you decide what is best for you.
  • We can cover all major brands, including Patek Philippe, Rolex, Audemars Piguet, Cartier, Tag Heuer, Vacheron Constantin, Omega, Breitling, Panerai, IWC, and others.

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Watch Insurance FAQs

Do you insure watch collections?

Yes, at Stanhope we can provide you with insurance for a watch collection. Stand alone watch policies are a little difficult to come by due the current hard market. Speak to an advisor for more information.

Are there any restrictions on my watch insurance policy?

Most worst-case scenarios, such as (accidental) loss, damage and theft, are covered anywhere in the world. However, there are some exclusions within the policy wording that you need to know. You cannot make a claim if there is cosmetic damage (scratches and dents) or general wear and tear. If you leave your watch in an unattended bag, then it will not be covered. If your watch mysteriously disappears, this will not be covered either.

Is watch insurance worth it?

Yes! For the best watch insurance products, premiums can start as low as £200.00 a year for a watch valued at £10,000. Thieves often target watches in burglaries and muggings, as they are easy to steal and resell. If you have a valuable watch, you probably want to wear it most days of the week. If you dropped your watch and it stopped working, the accidental damage section of the policy would provide you with the cover you need to repair or replace the watch.

Rolex, Patek Philippe, Omega and other watch cost examples

How much will it cost to insure a Rolex Datejust 36mm stainless steel?
Cost £3,500-£9,000
Cost to insure £104- £205

How much will it cost to insure a Rolex Oyster Perpetual 36mm stainless steel?
Cost £4,600-£13,000
Cost to insure £117-£285

How much will it cost to insure a Rolex Submariner stainless steel black dial/bezel?
Cost £7,000-£12,000
Cost to insure £165-£265

How much will it cost to insure a Rolex Daytona stainless steel?
Cost £16,000-£25,000
Cost to insure £345-£525

How much will it cost to insure a Rolex GMT stainless steel?
Cost £9,500-£16,000
Cost to insure £215-£345

How much will it cost to insure a Patek Philippe Nautilus stainless steel?
Cost £40,000-£80,000
Cost to insure £825-£1,625

How much will it cost to insure a Omega Seamaster Diver stainless steel?
Cost £1,000-£3,500
Cost to insure £104