The Benefits of Watch Insurance

You’ve just purchased a wonderful, intricately designed watch masterpiece that came with a hefty price tag but was well worth it. Watches are timeless classics and heirlooms which can be passed on from one generation to the next, and you might even say that it is a worthwhile and timely investment.

When you own something of value, there’s always one thing which you need to get done – get it insured. Yes, you must get a watch insurance. Depending on the make and model you purchase, a watch is an investment, and like every other precious possession and investment you own, it needs to be protected in the event something unfortunate should happen to it.

There exists insurance for jewellery because they are valuable, and watches are no different. Sometimes value doesn’t just mean the monetary amount that you paid for it, but it could hold the more sentimental value that is priceless. Especially if you inherited your watch from a beloved family member.

Plenty of insurance companies offer coverage for your valuables, because of the growing increase and demand as people are starting to see the benefit of having their items insured.

The benefits of getting your watch insured include the following:

• You Get Itemised Cover – What this means is that you will be able to list the items in your collection separately from your contents cover, meaning that each item will be insured for the amount which you have determined, guaranteeing extra protection for your most precious possessions.
• You Get Loss in Market Value Cover – If you opt for the itemised coverage for your watch insurance, and if your watch happens to suffer any damage and loses its market value as a result, the insurance provider will cover the reduction in market value, so your loss is minimised.
• You Get Blanket Cover – Should you decide you prefer not to have itemised coverage, you can still opt for what is known as a blanket coverage, which covers every item under one blanket. A specific limit will be set per item. If in the event you were to experience loss, your items will be either repaired or replaced based on the amount it has been insured for.
• You Get Optional Cash Settlement – Having your watch insured means that if in the unfortunate instance where your watch happens to suffer damage, your insurance provider will present you with the choice of a cash settlement instead if you feel that would be better than having the watch repaired.
• You Get Pairs and Sets Cover – Valuable items are often part of a set, although not always. If your items are part of a set, you can choose to have them insured as such. If one piece of the set or pair suffers loss or damage, the insurance provider will offer a replacement cost that covers the sum of the entire set insured.
• You Get Worldwide Coverage – And finally, the best thing about a watch insurance is knowing that your valuable item is automatically covered no matter where in the world you may travel to. Now that’s peace of mind worth paying for.