Watch Insurance: What’s Covered & How to Apply?

Do you love purchasing premium watches? Then you must know how heartbreaking even a tiny scratch can be! Such accessories can be quite expensive as well as fragile which is why repairing or replacing one can burn through your savings. In the event of loss or theft of your prized watch, the last thing you would want is a financial burden to shoulder amidst the emotional stress. But you can have peace of mind with watch insurance that secures such unfortunate incidents. Right from unforeseen perils like fire and theft to accidental damage, watch insurance plans provide monetary backup. Let’s take a look at the coverage and exclusions of the watch insurance policy.

What’s Covered Under Watch Insurance

Here are the inclusions of the watch insurance policy that are covered by the insurance provider:

●       Accidental Damage

In the event your watch incurs accidental damage, you can get the replacement or repair cost covered under this watch insurance plan. So, you can rest assured when it comes to the financial aspect of such a loss!

●       Theft of Watch

Experiencing the theft of your prized possession can be emotionally as well as financially draining. But you can stop worrying as watch insurance also offers coverage in case your watch is stolen.

●       Other Perils

Apart from the previously mentioned risks, the watch insurance policy makes sure you are covered in the event of risks like fire, explosion, lightning, implosion, etc. Moreover, any damage caused due to special calamities such as earthquakes, riots, floods, cyclones, etc. is covered. Hence, you can avail all-round protection against perils that might result in loss.

●       Coverage During Transit

Some insurance companies might secure your prized timepiece while it’s in transit from one location to another. However, the coverage may differ from one insurer to another along with limitations on the location for transit coverage.

What’s Not Covered Under Watch Insurance

Now let’s look at the exclusions of the policy which are not covered by the insurance company:

●       Natural Wear and Tear

You must know that most items undergo depreciation and experience some wear and tear with time. However, the damage incurred by your watch due to the natural and gradual wear and tear of your timepiece will not be covered by the insurance provider.

●       Consequential Loss

Any consequential loss to your watch due to misuse, deliberate damage or misplacement will not be covered under the plan.

●       Electrical or Mechanical Failure

The loss or damage incurred by your watch due to mechanical or electrical failure shall not be covered unless it is caused by accident or other reasons approved by the insurer.

How to Purchase Watch Insurance Online

Follow the below-mentioned steps to opt for a suitable watch insurance policy:


  1. Visit an insurance company’s website online that is offering watch insurance.
  2. Enter your personal details required on the page.
  3. The available watch insurance plans shall be visible on the screen.
  4. Compare various policies online and choose a suitable one.
  5. Review the terms and conditions of the selected watch insurance plan.
  6. Complete the premium payment process.
  7. Your watch insurance policy document shall be issued soon!

How to File a Watch Insurance Claim

Although we never wish such an unfortunate mishap to affect you, it’s always advised to know the claim process. Thus, in the event of loss or damage, you can easily raise an insurance claim:


  • Inform your insurer about the claim as soon as possible. Some insurance providers may or may not have a time limit applicable for such insurance claims.
  • You can contact the insurance company through their toll-free number or any SMS service available. Make sure to check for any other requests required for the claim.

Documents Required to Claim Under Watch Insurance

Here are some crucial documents to keep handy while raising a claim under watch insurance:


  • Bill copy or the invoice of the insured item
  • KYC documents
  • Duly signed and filled out claim application form
  • Any other document requested by the insurer

To Conclude

Our belongings hold meaning and are very precious to us. Any loss or damage caused to it not only affects us emotionally but also leaves a dent in our savings. Although you cannot avoid unforeseen events of accidental damage or theft, you can surely ensure a financial backup! Watch insurance cannot bring back your timepiece but it can help you recover the cost of your prized possession. So, if you have a premium watch or a timepiece very dear to you, now is the time to insure it against untoward risks!

Author Name: Rohit Agarwal
Bio: Rohit Agarwal is a finance & insurance practitioner. Loves to write and share information related to daily life aspects like pocket insurance, health & well-being sector.


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