How to insure a watch
Your homeowners, condo, or renters insurance typically covers jewelry and personal items, including watches, up to a specific dollar limit and minus the deductible. If your watch is worth more than your policy's sub-limit, you may want to add extra coverage by "scheduling" it separately. This is called adding a rider to your policy.
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How to add a watch to your homeowners, renters, or condo insurance policy
- Check the jewelry or watch sub-limit: Review your policy or contact your insurer or agent to find out your policy's personal property coverage limit, including any sub-limits.
- Determine your watch's value: If your watch is worth less than the coverage limit, it may already be protected against damage and theft. Remember, an insurance deductible typically applies if you file a claim and the item isn't scheduled separately.
- Add a rider for more coverage, if necessary: If your watch is worth more than the coverage limit or stated sub-limit, you may choose to add an insurance rider to your policy to get extra coverage for your watch or other specific items. You can ask your insurance company to "schedule" your watch, which means listing it separately on your policy for an additional cost. Adding a rider may also protect your watch against accidental damage or loss.
Learn more about insurance for jewelry and engagement rings.
How much does it cost to insure a watch?
The cost to insure a watch depends on its value and the type of coverage you choose. Factors that may affect the cost include:
- Appraisal value
- Type of coverage
- Deductible amount
- Location
Give your homeowners, renters, or condo insurance provider details about your watch, like its make, model, and appraisal value, so they can determine the exact cost to insure it. You may also choose to purchase a separate jewelry insurance policy. Lavalier jewelry insurance starts at $70 per year and costs about 1–2% of your insured jewelry's value.
Do you need to have your watch appraised to insure it?
Progressive requires an appraisal for watches valued at $5,000 or more. For watches worth less than $5,000, you need to give a detailed description of the piece. Unaffiliated home insurance carriers in our agency's network may set different requirements.
Watch warranty vs. insuring a watch
Manufacturers often include free warranties with expensive watches. If your watch stops working during its warranty period, the manufacturer may repair or replace it based on the warranty's terms and conditions. Know what's included in your warranty, how long it lasts, and whether the maker offers extra coverage. Luxury brands often sell protection plans, extended warranties, and other options for an additional fee.
Your watch warranty may cover defects or wear and tear, but it won't cover theft or loss. However, if your watch is a scheduled item on your homeowners insurance, renters insurance or condo insurance policy, you may be protected for the watch's actual value if the watch is lost or stolen.
How to get coverage for your watch through Progressive
Current Progressive customers
Call 1-866-749-7436 and provide details about your piece to a representative. You may need to provide an appraisal and color photos for pieces over certain dollar amounts.
New Progressive customers
Get a homeowners insurance quote, renters insurance quote, or condo insurance quote and potentially add your watch as a scheduled item. An appraisal and color photos may be required.
Quote homeowners insurance online or call for advice
Learn more about home insurance policies.
