Insuring your watch collection: how to prepare

Many collectors assume their watches are covered by their home insurance. Sometimes that’s true; often it’s only partly true. And when a theft happens, what makes the difference isn’t just the policy: it’s the file you can hand over.

This article gives general pointers. Terms vary a lot from one policy and one country to another: always check yours with your insurer.

1. Re-read your home insurance policy

Home policies usually cover “valuables”, but with limits. Look in your policy documents for:

• the overall limit for valuables, often a fixed amount or a percentage of your contents cover;
• the single-item limit, which can be far below the price of one watch;
• the security requirements: locks, alarm, a safe for higher amounts;
• cover away from home: many policies only cover watches inside your home, not on your wrist while travelling or out and about;
• how claims are settled: purchase price, replacement value, value set by an expert…

If your collection exceeds those limits, you have two options: declare the watches to your insurer to adjust your policy, or take out a specialist valuables policy, which often also covers watches worn outside.

2. Build a file for each watch

After a loss, your insurer will ask you to prove each watch’s existence, authenticity and value. Prepare now:

• the purchase receipt (or a bank statement if you don’t have one);
• the warranty card or certificate, with the serial number;
• recent, sharp photos: dial, caseback, profile, and a wrist shot proving the watch is yours;
• service invoices, which document condition and history;
• a professional valuation for the most expensive or vintage pieces, if your insurer requires one.

Keep a copy of all this somewhere other than your home (online, with a relative): a file stored in the drawer that was burgled is no use.

3. Keep values up to date

Pre-owned watch prices move. A watch bought ten years ago may be worth much more, or less, today. If your policy pays out based on a declared value, review it regularly, say once a year and after every purchase.

4. Everyday good habits

• Don’t post your watches alongside your address or identifiable details on social media.
• Avoid wearing a very expensive watch in situations where you wouldn’t walk around holding a wad of cash.
• When travelling, check that your policy covers the watch away from home and abroad.
• If a watch is stolen, report it to the police quickly and notify your insurer within the deadline in your policy. Also register the serial number with stolen-watch databases.

Build your inventory with Arcora

In Arcora, each watch already brings together its photos, reference, estimated value and service log. With Premium, the insurance export creates a PDF inventory in one click, with a photo, the reference and the declared value of each watch: the document to hand to your insurer, or keep somewhere safe.

In short

1. Check your policy’s limits, conditions and cover away from home.
2. Gather the receipt, warranty, photos and service invoices for each watch.
3. Keep a copy of the file outside your home.
4. Update values at least once a year.