When it comes to protecting luxury items, watches and jewelry often top the list of valuable possessions. Whether it’s a family heirloom or a newly purchased luxury piece, these items hold both financial and emotional value. This is where Watch Insurance and Jewelry Appraisal come into play. Together, they form the foundation of proper protection and peace of mind.

In this article, we’ll break down the costs involved in Jewellery and Watch Insurance, how appraisals work, and why these two services go hand in hand for owners who want to safeguard their investments.

Why Insurance and Appraisal Go Together

Luxury watches and jewelry are not just accessories; they are long-term assets. However, unlike cars or homes, their value can change over time. Precious metals, diamonds, and luxury watch brands often appreciate in value. That’s why a Jewelry Appraisal is the first step before getting coverage.

An appraisal provides the current market value of your item. Once that’s done, Watch Insurance or Jewellery and Watch Insurance policies use that value to determine coverage limits. Without an accurate appraisal, you risk being underinsured or overpaying for premiums.

Understanding Jewelry Appraisal

A Jewelry Appraisal is a written statement prepared by a qualified appraiser. It details the description, materials, craftsmanship, and estimated value of a watch or jewelry piece.

Key points about appraisals:

Frequency: Experts recommend updating appraisals every 2–3 years to reflect market changes.

Purpose: Insurance companies use appraisals to calculate the right coverage amount.

Cost: Most appraisers charge either a flat fee or an hourly rate. On average, fees can range from $50–$150 per item, depending on complexity.

By investing in an appraisal, you ensure your insurance coverage reflects the true value of your watch or jewelry.

What Does Watch Insurance Cover?

Watch Insurance is specifically designed to protect against loss, theft, or damage of luxury timepieces. Standard home insurance may not provide sufficient coverage for high-value items, which is why a separate policy is often needed.

Coverage usually includes:

Theft or Burglary: Protection if your watch is stolen from home, work, or even while traveling.

Accidental Damage: Covers repairs if your watch is scratched, cracked, or water-damaged.

Loss: Some policies even cover situations where the watch is accidentally lost.

Worldwide Coverage: Most Jewellery and Watch Insurance policies provide global protection, perfect for frequent travelers.

Cost of Watch Insurance