Losing a watch is more than just a financial loss. A watch often does more than just tell the time, it may be a special gift, a family heirloom or just your pride and joy.
Prices for watches start at less than a euro and go all the way up. In 2019 a new record was set when €25.6 million was paid at auction for a Patek Philippe!!
However, the right insurance can replace it, should the worst happen.
Tips for insuring expensive watches:
- Include expensive watches in your household contents
- It’s worth taking out all risks insurance for sums of €1,300 and more – check your policy wording!!
- Report any increase in value to your insurer
Household contents or a valuable item?
Valuable items can be included in your household contents policy. If items – in this case luxury watches – are worth over €1,300, it’s worth taking out all risks insurance. Each watch is then insured individually.
