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TL;DRLuxury watch insurance in 2025 typically costs a small percentage of your watch’s value annually, with premiums influenced by value, location, wear frequency, excess, and policy type. Specialist cover offers benefits like agreed value, annual revaluation, worldwide cover, and repairs through your original boutique—features sometimes missing from home contents insurance. |
A luxury watch is something you’ve chosen carefully, often for reasons that go well beyond style. Whether it’s a Rolex bought to mark a milestone or a Patek Philippe handed down through family, these pieces carry both financial and personal value. That may make getting the right cover more than just a nice-to-have.
So, what does watch insurance actually cost? What should a good policy include? And just as importantly, what should it avoid?
Watch insurance is designed specifically for high-value timepieces, offering cover that goes well beyond what some home or contents policies can provide. While general insurance often limits payouts for watches or jewellery, a dedicated policy recognises both the financial and functional value of a luxury watch.
Here’s what you could expect from a specialised watch insurance policy:
Replacement policy so you’re covered for like-for-like replacement or repair, putting you back in the same position as you were prior to the loss
Cover for theft, accidental damage, and unexplained loss
Worldwide cover, with some country exclusions sometimes due to international sanctions
Annual revaluation, so your insured value stays aligned with market shifts every year
The ability to return to your original watch boutique for repairs or a like-for-like replacement
This kind of policy is usually built for people who wear, collect, or travel with their watches and who want confidence that they’re covered in a way that actually matches how they live.
Key Point: Standard home contents insurance sometimes won't cover your watch when travelling or wearing it outside the home.
The question isn’t whether you should cover your watch, it’s what will the right cover cost?
Premiums for luxury watch insurance vary based on a few key factors. Here’s what influences the price:
The higher the insured value, usually the higher the premium. A $5,000 TAG Heuer will usually cost significantly less to insure than a $100,000 Richard Mille. Most policies calculate the premium as a percentage of the insured amount.
Example: A watch insured for $15,000 might have an annual premium starting from $250 to $400, depending on other factors.
Where you live may matter. Areas with higher rates of theft or loss may attract higher premiums.
Is it a daily wear piece or kept in a secure location most of the time? Watches that are worn regularly may carry higher premiums due to increased exposure to risk.
Opting for a higher excess generally reduces your premium. Just keep in mind that this also increases your out-of-pocket cost if you need to make a claim.
A specialist provider like Q Report offers more tailored cover for watches. This can include replacement options in the event of a claim, access to your original watch boutique, and annual revaluation. While that level of cover may come at a slightly higher premium, it’s designed to deliver more accurate and quicker outcomes at claim time.
In 2025, more watch owners are seeking out specialist cover that aligns with how they wear, store, and value their timepieces. We’re seeing clear shifts in both what people are insuring and what they expect from a policy.
Key trends include:
Insuring new purchases at the point of sale through Q Referrer Watch Retailers, making cover a seamless part of the total purchase
Covering vintage and limited-edition watches, particularly as collector demand and resale values continue to rise
Prioritising annual revaluation, with buyers choosing policies that keep up with market fluctuations automatically
Returning to the original watch boutique for repairs or replacement—a feature many now see as essential
Whether it’s a Rolex worn every day or a Grand Seiko reserved for special occasions, more watch owners are looking for insurance that’s built around their specific needs and not just a one-size-fits-all policy.
Choosing the right insurance policy for your watch comes down to personal choice. Some people tend to focus on features that reflect the actual value of your timepiece and how you use it.
Here’s what you may want to look for:
You may want to look for a policy that covers you for like-for-like replacement or repair, meaning you will be put in the same position as you were prior to the loss. Some policies insure your watch at a set value that can only be updated with valuations or a limit for watches. This could mean that in the event of a claim, you may be underinsured, so you can’t get the same model that you have, without having to put in additional funds.
Luxury watches can increase in value over time. A policy that includes automatic revaluation keeps your cover accurate as the market shifts. Q Report includes annual revaluation as part of every policy’s renewal cycle.
If you travel with your watch, global coverage may matter. Look for a policy that covers theft, loss, or damage overseas, and check for any exclusions related to specific countries or time limits for travel.
If your watch needs to be repaired or replaced, you should have the option to work with your original watch boutique and not be sent to a provider you don’t know. This generally ensures continuity in quality and service.
Some losses cost more to put right than expected. Q Report policies include up to 50% cover of the insured value when replacement costs exceed the original amount, to be used at the discretion of the insurer, an important safeguard for rare or limited-edition models.
Even experienced watch owners can overlook key details when it comes to insurance. Here are some common oversights that might be worth avoiding:
Not all insurance is created equal. Without thoroughly comparing policy features, benefits, limits and exclusions, you may end up with cover that doesn’t suit your needs - or worse, leaves your watch underinsured or without cover when it matters most.
Watch values can fluctuate over time. If your policy doesn’t include annual revaluation or you haven’t reviewed your cover recently, you could find yourself underinsured when it matters most.
Every policy comes with conditions. It’s important to understand what’s not covered, such as damage from wear and tear, loss in certain countries, or storage-related risks, before assuming you’re fully insured.
If you own a high-value timepiece, insurance isn’t just about financial coverage, it’s about ensuring you have a clear path to repair or replacement if something goes wrong.
Specialist watch insurance offers more than a payout. It offers access to the original watch boutique, accurate valuations, and coverage that aligns with market values and how your watch is worn. Whether your timepiece is part of a collection or a daily companion, tailored cover may bring structure and support when it’s needed most.
Choosing a dedicated watch insurance policy may mean greater clarity, consistency, and confidence in your ability to recover - not just the item, but its full value and experience.
Interested in specialist watch insurance? Start your quote with Q Report now.
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