Jewelers Mutual provides the highest protection at a price that's easy on the wallet. An expensive wristwatch or a collectable watch can be a wise financial investment. Your costly watch will be protected from damage, theft, loss, and even inexplicable disappearance if you purchase insurance for it. We analysed, compared, and rated the top watch insurance providers based on a variety of factors like coverage limitations, premiums, appraisals, and deductibles. Check out our advice to assist you in selecting the best service provider for your needs to safeguard your investment.
Providers of the Finest Watch Insurance
Best Overall: Mutual Association of Jewelers Best Insurance for Smart Watches: Lemonade Best for High-End Watches: AXA The Most Suitable Option for Collectors: Wax Insurance Best No Deductible Insurance: HODINKEE Leading Vendor in Claims: BriteCo A Selection of the Finest Watch Insurance Companies Mutual Association of Jewelers Lemonade AXA Wax Insurance HODINKEE Insurance BriteCo's Concluding Statement on Comparing Service Providers Questions And Answers Regarding A Comparison Of Watch Insurance Providers What Exactly Is Watch Insurance, Anyway? What exactly does a watch insurance policy cover? What does the cost of the watch insurance often look like? Is It A Good Investment To Insure A Watch?Jewelers Mutual
FREE EVALUATION: Not available- STATES: 50
Why We Opted for It
Jewelers Mutual is a watch insurer that was established in 1913 and has more than a century's worth of experience in the industry. The organisation provides all-encompassing coverage, reasonable rates, and adaptable choices for the deductible amount. In point of fact, Jewelers Mutual was also our top option for the finest overall choice in jewellery insurance as well as engagement ring insurance.Pros & Cons
Pros
- Option for a deduction of zero dollars
- No appraisal is necessary in order to purchase coverage.
- Simple to obtain a price estimate online.
Cons
- Do not provide value estimates for free.
- Some unfavourable comments regarding the inadequate handling of claims
- No mobile app
Overview
Jewelers Mutual is our pick for the best watch insurance company overall because it offers coverage for the majority of watch types against damage, theft, disappearance, and loss anywhere in the globe, and you have the option of selecting a $0 deductible. In addition, it is one of the most respected businesses because it has partnered with organisations such as the American Gem Society, Jewelers of America, Jewelers' Security Alliance, and a great number of other organisations. Jewelers Mutual offers to watch insurance at an affordable price, however, the specific cost of each policy is dependent on the watch being insured. The business estimates that the cost of the watch insurance will be between one and two per cent of the watch's total worth. You can get an estimate of your future insurance premiums by submitting an application for a quote online. The amount of coverage that is available varies from state to state, however, the deductible can be adjusted. You can even choose to have no deductible at all. You can submit a claim through the online customer portal or by calling the company during business hours if you find that you need to. It is important to keep in mind that in the event that your jewellery is lost or stolen, you may be required to provide a police report as part of the claims procedure. One of Jewelers Mutual's shortcomings is that it does not provide customers with complimentary appraisals. You do not, on the other hand, require one in order to obtain a policy. In addition to this, we discovered that the organisation has received some unfavourable evaluations from consumers over the way it handles customer claims, with some customers claiming that they were paid unfairly for their claims.Lemonade
FREE EVALUATION: Not available- STATES: 28 States (renters) and 23 States (homeowners)
Why We Opted for It
Lemonade's homeowners and renters insurance is a fantastic choice for smartwatch owners who are looking for an affordable way to shield their devices from a wide variety of dangers that are covered under the policy without having to pay a hefty deductible.Pros & Cons
Pros
- Simple to obtain a price estimate online.
- The opportunity to acquire additional coverage at higher limits
- In most cases, coverage is available at a relatively reasonable cost.
Cons
- Having a Lemonade homeowners or renters insurance policy is required.
- It is not available in all states.
Overview
Because Lemonade is a digital insurance firm, we felt that it would be the greatest option for insuring smartwatches. Owners of smartwatches who are already accustomed to using their devices will like the ease and convenience of being able to purchase insurance coverage, manage their policies, and file claims directly from their phones. To be eligible for this coverage, you need to have Lemonade homeowners or renters insurance policy. However, Lemonade is among the most cost-effective property insurance carriers available on the market today. Insurance for renters begins at $5 per month, whereas insurance for homeowners begins at $25 per month on average. Standard insurance includes coverage for smartwatches worth $1,500, but if your watch is worth more than $351, you have the option to purchase additional coverage at an additional cost. According to the data provided by Lemonade, the typical cost to cover a watch is only $9.46 per month. You can acquire a personalised rate quote for Lemonade smartwatch insurance either online or through the mobile app on your smartphone. If you have had the watch for fewer than five years, you will need a receipt in order to be able to insure it. You'll need an appraisal if you've owned it for longer than five years, or if you don't have the original receipt for it. We regret to inform you that Lemonade does not provide free valuations. According to the reviews, clients are generally pleased with the user interface, the inexpensive pricing, and the good customer support that Lemonade provides. The fact that it isn't offered in every state is by far the most significant drawback.AXA
FREE EVALUATION: Not Available- STATES: 50
Why We Opted for It
AXA is the best watch insurance company for luxury timepieces since they offer a variety of comprehensive coverage options, in addition to scheduled and blanket insurance policies.Pros & Cons
Pros
- Easily accessible in all fifty states.
- Coverage in its entirety for high-end timepieces
- Choose between a scheduled or a blanket policy as your coverage option.
Cons
- You are unable to acquire an online quote.
- Only limited information is provided regarding coverage limits and deductibles.
- Not a single claim can be found online
Overview
For those of you who are the proud owners of a Patek Philippe or Rolex, AXA is the watch insurance company that we recommend. Anywhere in the world, AXA will provide coverage for your luxury watches against any and all risks. You also have the option of purchasing a scheduled policy or a blanket policy; the type of insurance you need will be determined by the value of your watch collection as well as the number of individual watches in it. When you insure your watches with AXA, they are protected no matter where you keep them—in a watch box in your closet, in a safe at home, or even in a bank vault. Therefore, if you wear a $10,000 Cartier watch as your everyday wristwatch, you can go about your day knowing that the watch is protected no matter where you go. Although AXA provides dependable coverage for pricey timepieces, the company's website is not the most straightforward to navigate. You are going to need to phone the firm and deal with an agent in order to acquire a quote, manage your policy, and submit claims. In addition, our research revealed that AXA's website does not provide a significant amount of information regarding the protections that its watch insurance policies offer. You should get in touch with the company if you want to learn more about the policy limitations and deductible choices that are offered. Since it is not clear from the company's website whether or not an appraisal of your timepieces is required in order to acquire coverage, we also recommend inquiring about this.WAX Insurance
FREE EVALUATION: Not Available- STATES: 48
Why We Opted for It
Watch enthusiasts came together to create Wax Insurance in order to meet their needs. Because this is a company that specialised in insuring watch collections of varying sizes, each of your watches can be protected by its own individual coverage.Pros & Cons
Pros
- You will only be able to manage your policy through the mobile app.
- Adding watches to your insurance coverage is as easy as taking a picture of them.
- You will always receive the best possible price because of Wax's extensive partner network.
Cons
- Policies are guaranteed by a variety of other businesses.
- A younger corporation than its rivals, with a lower level of established credibility
Overview
We highly offer Wax Insurance to everyone who collects watches, no matter how vast or modest their collection may be. There is no need to have each of your timepieces appraised if you insure them under a single policy because you may cover all of them under a single policy. Using the smartphone app, all you need to do is take a picture, and the Wax team will handle the rest. The fact that Wax Insurance is a completely mobile business is among the aspects of the firm that we value the most. The free app allows you to take care of everything related to your insurance, including obtaining a price, reporting a claim, and adding watches to your coverage. On the other hand, if you feel the urge to speak with a real person, there are agents standing by. Watch collectors can obtain coverage for collections worth up to $1 million via Wax Insurance, with the option to purchase larger amounts if necessary. If you don't mind paying a bit extra for coverage, there's also the option to have a deductible of zero dollars. Because the cost of the company's insurance is not made public, your best bet is to acquire an estimate that is specific to your needs through the mobile app. Wax Insurance does not, on the other hand, underwrite its own insurance. When you submit an application for a quote, the system will try to pair you with the supplier that can offer you the best deal among those that are part of its network. This can be viewed as both an advantage and a disadvantage.H Insurance
FREE EVALUATION: Not Available- STATES: 50 States
Why We Opted for It
If you buy watch insurance from HODINKEE Insurance, you will never be required to pay a deductible in the event that you file a claim. Chubb is the sole underwriter for the zero-dollar deductible plans that are offered by this company.Pros & Cons
Pros
- Exclusively sells $0 deductible policies,
- Chubb, a reputed insurance company, acts as the policy underwriter.
- Appraisals are not required for items valued at less than $100,000.
Cons
- Does not provide value estimates for free.
Overview
The zero-deductible watch plans that HODINKEE Insurance offers its customers are a wonderful feature that will provide you peace of mind in the event that your timepieces become damaged, stolen, or lost. In addition, the plans of HODINKEE Insurance are underwritten by Chubb, a company that specialises in providing coverage for precious products. The amount that HODINKEE Insurance will charge for watch insurance is determined by a number of criteria, one of which is the item's value. To give you an idea, the annual premium for insuring an Omega Speedmaster that retails for $5,350 would be approximately $136. A pricier Rolex Dayton, with a value of $13,150, would have an annual insurance premium of approximately $335. On the internet, you are able to obtain a free immediate quote. One more thing that we enjoy about HODINKEE Insurance is that it does not require assessments for watches that have a value that is less than $100,000. Simply take a picture of the watch, go through the five-step enrollment process, and as soon as your insurance is authorised, coverage will start immediately. You are given access to Chubb's hotline, which is staffed 24 hours a day, seven days a week, making it possible for you to initiate the process of filing a claim at any time of the day or night. The fact that every policy offered by HODINKEE Insurance offers investment protection stands out as one of the company's most distinctive advantages. Each watch that you insure under your policy is protected up to an amount equal to 150 per cent of its insured value, subject to the maximum payout of your policy. Therefore, in the event that your covered watch experiences an increase in value prior to the filing of a claim, you will not be required to accept a reduced settlement.BriteCo
FREE EVALUATION: Not Available- STATES: 50
Why Did We Go With This Option?
BriteCo is the most reliable watch insurance company when it comes to managing claims. You have the freedom to work with any jeweller of your choice to make repairs, and you may file a claim at any time, day or night, online.Pros & Cons
Pros
- Simple and quick online claim reporting
- No deductibles required
- Protection of up to 125 per cent of the market value is included.
Cons
- Does not have any offices in the area
- In order to obtain coverage, you are obliged to have appraisals.
Overview
BriteCo stands out as the watch insurance company that handles claims in the greatest way out of all of those that we researched and evaluated. You don't need to get in touch with an agent in order to register a claim because you may do it online whenever you want. In addition, every policy comes with market value protection, which allows you to collect up to 125 per cent of your item's original insured value after a loss if it has increased in value. BriteCo sells a wide variety of watches, including those made by luxury brands such as Rolex, Breitling, and Chopard. Theft, breakage, loss, and strange disappearance are just some of the usual dangers that watches are insured against all over the world. The coverage limits on the watch insurance offered by BriteCo are adjustable, and there is no deductible that must be met. Simply going to the website of BriteCo makes it simple to obtain an estimate for an instant cost online. According to the information provided by the company, the typical premium for a policy is between one and two per cent of the item's estimated worth. The most significant disadvantage of working with BriteCo is that it is necessary to obtain assessments in order to ensure any watch, whatever the watch's value. Additionally, if you prefer to deal with an agent to get coverage or manage your policy, this is not the best insurance company for you to choose. BriteCo representatives are reachable by phone, however, the company does not have any offices in the surrounding areas.Final Verdict
If you have expensive timepieces, purchasing watch insurance can be a wise financial decision. Jewelers Mutual is, in our opinion, the finest insurance company for watch owners overall, despite the fact that there are a number of other businesses that are strong challengers in this space. Jewelers Mutual provides the most all-encompassing coverage for a diverse selection of watches, making it an ideal choice whether you have expensive timepieces that are only worn on rare occasions or timepieces that are worn on a daily basis. The insurance is not too expensive, and you have the option of selecting a policy with no deductible at all. Not to mention the fact that Jewelers Mutual has the support of some of the most prestigious jewellery organisations in the world.Compare the Best Watch Insurance Providers
| COMPANY | PRICE | COVERAGE LIMIT | POLICY TYPES |
| Jewelers Mutual Best Overall | 1% to 2% of the item’s value | Varies | Watch insurance |
| Lemonade Best for Smartwatches | Varies | Varies | Included coverage with home and renters insurance |
| AXA Best for Luxury Watches | Varies | Varies | Watch insurance |
| Wax Insurance Best for Collectors | Varies | Up to $1 million (higher limits are available) | Watch insurance |
| HODINKEE Insurance Best With No Deductible | Varies | Varies | Watch insurance |
| BriteCo Best for Claims | 1% to 2% of the item’s value | Varies | Watch insurance |
Assessing the Various Watch Insurance Companies
There are significant differences between the various watch insurance companies. It is essential to conduct your own study and evaluate the leading candidates in terms of a number of essential criteria before settling on a carrier to work with. Premium: The expense of maintaining the validity of your insurance coverage is referred to as the premium. Your location, the insurance company you choose, the worth of your watches, the amount of coverage you choose, and your deductible all play a role in determining how much watch insurance will cost you. Coverage Limit: Your coverage limit is the highest amount of money that your insurer will pay out to you in the event of a loss that is covered by your policy. If you own an extremely pricey watch, you should look for insurers that sell plans with large coverage limits so that you can protect your investment. Deductible: Your deductible is the amount of money that comes out of your own pocket that you are responsible for paying toward a loss that is covered by your insurance policy. There are a number of watch insurance firms that provide coverage with no deductible, while others provide adjustable deductibles ranging from $200 to $1,000. Requirements for an appraisal: Before you can buy a watch insurance policy, you might be required to get your watch evaluated first. This will depend on the watch insurance company that you choose to work with as well as the worth of your item. Nevertheless, some service providers do not demand it. Customer service: Read online customer reviews to find out what other people who already have policies with the company think of it. A lot of the time, clients will voice complaints regarding the customer service or the claims process, and it is beneficial to know this information before you buy a policy. User-friendliness: The majority of the watch insurance providers that we looked into making it simple to purchase coverage, obtain a price, present a claim, and add new watches to an existing policy. You don't even need the assistance of a representative if you use the mobile app that certain service providers offer.Questions and Answers
What exactly is meant by "watch insurance"?
The expense of replacing or repairing high-end timepieces, which are often priced in the hundreds of dollars, can be covered by watch insurance, which can be purchased as a separate policy or as an additional endorsement. Insurance companies frequently refer to this as a "personal articles policy," which is a scheduled policy that lists high-valued things like jewellery, artwork, and other valuables. A personal articles policy is a type of scheduled policy. Standard homeowner's and renter's insurance policies normally do not cover valuables like these that are valued at more than a certain sum, which is frequently $1,500.What exactly is covered by the watch insurance?
Insurance companies for watches typically protect them against a predetermined set of hazards. In many cases, this encompasses occurrences such as theft, loss, disappearance, and damage. It is highly recommended that you verify your watch insurance policy for any exclusions, since some policies cover significantly less than others do. Some insurance policies, for instance, clearly exclude particular scenarios in which damage or loss could occur, such as the presence of rodents, regular wear and tear, intentional acts, or fraudulent sales. Other policies cover only specific perils. Call the insurance company if you are unsure what is covered by your policy, or read through the documentation that came with it.What is the price range for watch insurance?
The cost of watch insurance is dependent on a number of criteria, the most important of which is the value of the watch being insured. To illustrate, the cost of insurance for a watch that costs $300 is far lower than the cost of insurance for a watch that costs $10,000. The price will also be determined by factors such as your location, the coverage limit, the deductible, and the provider that you select. Jewelers Mutual suggests that its plans normally cost between one and two per cent of the watch's value. This information is provided to give you an idea of what you could be expected to spend. This indicates that the cost to insure a watch with a value of $10,000 may range anywhere from $100 to $200, whilst the cost to insure a watch with a value of $4,500 could range anywhere from $45 to $90 per year.Does It Make Financial Sense to Insure a Watch?
When the price of replacing or repairing the watch is going to be more expensive than the cost of the watch insurance spread out over a number of years, it makes financial sense to purchase insurance for the watch. Consider the example of the watch that costs $5,000 that was given earlier. If the cost of insurance ranges from $50 to $100 per year, it could take anywhere from 50 to 100 years before you have recouped the whole cost of the watch through premium payments. If you do not have insurance, on the other hand, you can be required to pay the total amount due the following day in the event that something unfortunate occurs.How We Decided Which Watch Insurance Companies Are the Best
We began our search for the top watch insurance companies by doing a thorough analysis of ten distinct watch insurance providers. We ranked each provider based on a number of criteria, including price, coverage limits, deductibles, appraisal standards, corporate reputation, customer reviews, and the steps involved in filing a claim. We also considered other aspects, such as the level of convenience involved in acquiring a price quote and the level of each company's web presence and functionality.