<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=1204737666323810&amp;ev=PageView&amp;noscript=1">

Jewellery Insurance Instant Quote

You’ll have a quote in less than 60 seconds

Jewellery Insurance Instant Quote

You’ll have a quote in less than 60 seconds

Q Insights

Jewellery insurance info, helpful guides, resources and industry-leading insights.


Jewellery Insurance

Additional 50% Insurance Cover Explained

When you shop around for specialised jeweller insurance, you might come acr...

What is a ‘No Impact Claim’ in Jewellery Insurance?

How would you feel if you lost your favourite piece of jewellery?

Accidental Damage: Are You Covered by Jewellery Insurance?

Fine jewellery and watches are made out of earth’s hardest substances: diam...

Insurance Information

Side-by-Side Insurance Policy Comparison

If you could be doing anything today, what would it be? Shopping for insura...

How Much Does Engagement Ring Insurance Cost?

Wedding costs add up fast! And worse, the list seems to grow as you approac...

12 Reasons You Should Insure Your Jewellery

Some of your possessions are easy to replace. One television is much like t...

Luxury Watches

Luxury Watches: The Old Classics

Wearing a luxury watch demonstrates respect for the past and a nod to the t...

Luxury Watches - The Three Must-Haves for Any Collection

The luxury watch market has never been more exciting. From revivalist model...

What Does Watch Insurance Cover?

A luxury watch does more than tell the time. It brings an element of elegan...

Jewellery Trends

20 Unique Marriage Proposal Ideas

Your partner is unique, special, one-of-a-kind. So your proposal should be ...

Our Top 10 Celebrity Proposal Stories

We all love sneaking glimpses of celebrity engagement rings on social media...

7 Luxury Watch Trends of 2019

No one “needs” a watch anymore, and maybe that explains our love of luxury ...


Keep up to date with the latest jewellery trends, insights and inspiration from Q Report.

Engagement Rings

Engagement Ring Insurance: The Do’s and Dont’s

Yellow gold or white gold? Pear-shaped or oval? Wedding band or no?

Protecting Your Engagement Ring in Summer

Ah, summer - that carefree time of year when sandals rein and the sun keeps...

How to Avoid Damage to Your Finger and Engagement Ring if You Can’t Get it Off

It’s a panicky situation. Maybe it’s hot outside, and your finger is swolle...


Diamond Certificates Explained

Shopping for a diamond can be intimidating, especially if you haven’t done ...

Retail vs Resale: The Value of a Diamond

“It’s an investment.” You might hear this phrase as you shop around for jew...

Not Your Style? A Guide to Resetting Your Family Heirloom Diamond Ring

You’ve inherited a piece of jewellery from a beloved family member. Congrat...


Antiques Roadshow. Are You Sitting on a Gold Mine?

Have you seen the one where the long-haired man hears what his watch is wor...

How to Propose & The Best Places to Do it in Australia

Just one thing stands between you and marital bliss. You have to propose ma...

Durable Wedding Bands for the Handyman

Men’s wedding bands can take a beating. Whether you’re fixing a roof or pla...

Helpful Resources

Featured Resource

The Complete Guide to Jewellery Insurance

Access the Guide
Featured Resource

The Ultimate Guide to Luxury Watches

Access the Guide
Featured Resource

Ring Size Guide & Sizer

Download Guide

Some people have one special watch (like their grandad’s Rolex), and others have a full collection of luxury timepieces. Either way, you’ve probably worried about the possibility of theft, loss or damage. After all, watches sadly make the top 10 list of most popular items for burglars.

For worries about the safety of personal items, people turn to insurance. But does home and contents insurance cover luxury watches?

Home and contents insurance helps to replace or repair your belongings if they’re stolen or damaged by a covered disaster, such as a fire. If someone burglarises your home and takes your camera, or your furniture and books are destroyed in a fire, contents insurance alleviates the expense of replacing your possessions.

Too many people assume that their home and contents policy covers everything they own. When you read the fine print, however, you realise that high-value items like luxury watches, may not be covered (or at least not adequately).

Is your luxury watch protected from the unexpected? In this article, we’ll look at the issues surrounding cover for fine timepieces so you can evaluate your personal needs and protect that treasured watch.


Actual Cash Value Vs. Replacement Cost

When you shop around for home and contents insurance, you’ll find two main types of policies: replacement value and new-for-old.

Most policies offer new-for-old cover, which means you’re covered for the full cost of replacing your belongings that are damaged or lost during events such as a burglary or fire. Even if your laptop were three years old at the time of the loss, you’d be able to replace it with a new one.

A replacement value contents policy only covers the value of your possessions. Your three-year-old laptop has depreciated since you first purchased it, and this type of policy will only reimburse you for each item’s current value.

What does this mean for your luxury watch? Depending on your type of coverage, you may or may not be able to purchase a replacement that meets your luxury watch’s standards of quality and value. And, as we’ll see in the next section, home and contents insurance may only cover your luxury watch under certain conditions.


What’s Covered by Home and Contents Insurance?

When you apply for home and contents insurance, you can choose different levels of cover. The least expensive option is a defined events policy. It usually only covers your possessions when they’re lost through a singular event, such as a burglary or house fire. This type of protection doesn’t do much for your luxury watches because they’re highly portable.

Unlike a television, which stays in your home all the time, a Rolex accompanies you to work and nights out. If your watch sustains damage while you’re on holiday, that loss is not considered a defined event, and it likely won’t be covered.

For a broader level of coverage, some contents policies include accidental damage, which protects you against incidents like dropping your watch on a tile floor or smashing it in a car accident. This type of cover costs more than a defined events policy. Still, it typically has a value limit for specific items, and this limit often falls short of the replacement cost of luxury watches.


Per Item Limits

Most contents policies have limits on how much you can claim for your belongings. For example, your policy may only reimburse you up to $500 for a ring, even if it would cost $4000 to replace.

Valuable items like Audemars Piguet watches may need to be insured for a higher value or listed separately under your home and contents policy. Otherwise, you might receive just a fraction of its actual cost as a result of your claim.

When you opt for specified cover of a luxury watch under your contents policy, you’ll most likely need to get a valuation. You will also have to pay an additional premium to obtain adequate insurance for valuable items.


Ultimate Guide to Luxury Watches


Is There a More Comprehensive Way to Cover My Luxury Watch?

After learning more about insuring your watch with home and contents insurance, you might be wondering if there’s a better way. Home and contents insurance works well for many personal items, but it’s not well-suited for watches for the following reasons:

  • Per-item value limits
  • Cover limited to defined events
  • Items may not be covered away from home or while you’re travelling
  • Accidental breakage may not included

What’s the answer?

Q Report Watch Insurance covers your favourite Vacheron Constantin or Patek Philippe whether it’s sitting on your dresser or keeping time on your wrist as you fly to Fiji. No matter how far you travel, our insurance protects your watch at its current value.

Complimentary Revaluation & up to 150% Cover

Each year, we revalue your insured luxury watch at no cost to you, so you’ll always know you have enough coverage. If your watchmaker discovers that the replacement value is not quite enough to cover the cost of replacement for an approved full loss claim, our Q Classic policy includes an additional 50% buffer. This sometimes happens if currency fluctuations or sudden spikes in the value of the watch will make it cost more to replace.

Return to Your Jeweller or Watchmaker

We love luxury watches ourselves, so we think it’s vital that you have the option of returning to your original jeweller or watchmaker for repairs or replacement. Of course, you can go anywhere you wish; the decision should be yours.

Agreed Value Cover

Home and contents insurance doesn’t always pay the amount shown on your policy in the case of a claim. Even if you’re paying a premium on the insured value shown, they can replace your watch at the lowest price that they can find.

Here at Q Report, our watch insurance policy provides agreed value cover, which means we’ll pay the actual amount shown on your policy minus a flat $100 excess In the case of an approved full loss.


Why Choose Q Report?

Customer Danielle Yeates put it this way:

“Undoubtedly the BEST jewellery insurance available. General household policies don’t even come CLOSE to being adequate or compare to what you get from Q Report. Going back to my jeweller was one of the most critical things for me, and this was guaranteed. They are so easy to deal with too and are actually a pleasure! Something definitely unexpected in the insurance industry. Highly recommend!!”

Since we only cover jewellery and watches, we’re highly attuned to the concerns you have about your luxury watch. And we believe that beautiful timepieces were meant to be worn and enjoyed, not tucked away in a safe.

So wear your watch with pride and joy. When you know it’s fully insured, you can wear it with peace of mind. If you haven’t yet purchased your watch, consider buying from a Q Certified Jeweller so you can have insurance from the moment you walk it out of the shop.

And if you’re wearing it right now, get a free online estimate for a Q Report watch insurance policy. Have questions? Ring us at 1300 882 018. We look forward to talking with you.


Instant Watch Insurance Quote

Jewellery Insurance Instant Quote

Get an instant quote below. Questions, call us anytime on 1300 882 018


Jewellery Insurance Instant Quote




Related Articles

Luxury Watches: The Old Classics

Wearing a luxury watch demonstrates respect for the past and a nod to the t...

Additional 50% Insurance Cover Explained

When you shop around for specialised jeweller insurance, you might come acr...


Keep up to date with the latest jewellery trends, insights and inspiration from Q Report.

Engagement Ring Budget Calculator

What you need to save to meet your timeframe and budget is:

This has not taken cut, colour, clarity or carat, your financial situation or your partners taste into account. There are many factors that can reduce or increase the value of an engagement ring.

Not sure where to start?

Speak with one of our Q Certified Jewellers to find out what you can afford, what your partner is looking for and what will financially work best for you.

Find your local jeweller
How much would insurance cost?
Get an instant quote