We researched and analyzed the top watch insurance providers, evaluating them based on factors like coverage limitations, rates, appraisals, and deductibles. Check out our advice to assist you in selecting the ideal service provider for your needs so that you can safeguard your investment.
Jewelers' Mutual Insurance Company
Jewelers Mutual was established in 1913 and had more than a century of expertise in the watch insurance industry. The organization provides all-encompassing coverage, reasonable pricing, and a range of deductible configurations; Jewelers Mutual was not only our top option for jewelry insurance but also our top pick for engagement ring insurance.
Pros
- Option for a deductible of zero dollars
- There is no need for an appraisal to acquire coverage.
- Online price estimates are simple to get.
Cons
- Does not provide valuations without charge.
- Some unfavorable comments on the way claims.
- No mobile app
Jewelers Mutual offers to watch insurance at a reasonable price. However, the actual premium will vary depending on the model of the timepiece. According to the firm's information, the watch insurance cost will range between 1 and 2 percent of the item's total worth. You may get a price for your insurance premiums by submitting your information on the company's website. Coverage limitations are different in each state. However, the deductible may be adjusted as needed. You also have the option to choose a deductible of zero dollars.
Lemonade's
Lemonade's homeowners and renters insurance is a great option for smartwatch owners who want to protect their gadgets from a wide range of covered dangers without paying a high premium lemonade's homeowners, and renters insurance is a great option for smartwatch owners who want to protect them.
Pros
- Online price estimates are simple to get.
- Option to get additional coverage to increase limit amounts
- The cost of protection is often rather reasonable.
Cons
- Homeowners or renters with a Lemonade policy are required to get insurance.
- Availability is limited and varies by state.
Because Lemonade is a digital insurance firm, we believe it to be the most qualified watch insurance provider for smartwatches. The simplicity and convenience of acquiring coverage, maintaining their plans, and making claims directly from their phones will appeal to users of smartwatches who are already used to utilizing their gadgets.
AXA
AXA is the finest watch insurance provider for luxury watches because it offers a variety of comprehensive coverage choices, in addition to scheduled and blanket insurance plans.
Pros
- Easily accessible in all fifty states.
- Comprehensive protection for expensive timepieces
- The choice between a planned policy and a blanket policy as an option
Cons
- You are unable to get a quotation online.
- There is just a limited amount of information on coverage limits and deductibles.
- There are no online claims.
Our recommendation for watch insurance goes out to AXA, particularly if you own a quality timepiece such as a Rolex or a Patek Philippe. AXA will provide coverage for your luxury watches against any risks, no matter where you are. You also have the option of purchasing either scheduled insurance or a blanket policy, and the kind of coverage you get will depend on the worth of your watch and the number of watches in your collection.
Your watches are protected no matter where they are stored when you have AXA insurance, whether in a watch case in your wardrobe, a home safe, or a bank vault. If you wear a $10,000 Cartier watch as your everyday timepiece, you can be confident that the watch will be covered no matter where you travel. You can rest easy knowing that the watch is protected.
Wax Insurance
Wax Insurance was conceived with and developed specifically for watch collectors by watch enthusiasts. A single insurance plan since the business specializes in protecting watch collections of all sizes.
Pros
- Only with the mobile app can you manage your insurance coverage.
- To add watches to your insurance, take a picture of them.
- Wax's extensive partner network guarantees you will get the best possible price.
Cons
- Other businesses are responsible for underwriting the policies.
- A more recent business with less established credibility than its rivals
We strongly suggest getting watch collectors Wax Insurance, regardless of their vast or small collections. You may insure all of your watches under a single policy, and you won't even need to acquire individual valuations for each timepiece. You will only need to capture a picture using the smartphone app, and the Wax team will handle everything else. The fact that Wax Insurance is a mobile firm is one of the aspects that we like most about the company. You may manage everything related to your insurance using the cost-free mobile app, including obtaining a quotation, reporting a claim, and adding watches to your coverage. On the other hand, agents are standing by in case you need the assistance of a real person. Watch collectors may get coverage for collections worth up to one million dollars via Wax Insurance, with greater limits available if further protection is required.
