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    Insuring your Luxury Watch

    Luxury watches are far more than just expensive timepieces. They are cherished items, which in addition to having significant monetary value, also have sentimental significance or service as reminders of a specific occasion. Rolex watches, for example, are sometimes presented to people to commemorate many years of loyal employment.

    Naturally, items like high-end Omega watches are prized possessions. But they are also prized targets for thieves. That’s why it is essential to have these items of special jewellery properly insured. But it’s not only insuring against theft that is essential. Insurance should also cover accidental loss and damage.

    Watch Crime on the Increase

    There has unfortunately been an increase in watch crime. Especially luxury brands such as Breitling watches. Not only are they attractive pieces of jewellery, they are also hard to trace and easy to sell on.

    According to the Metropolitan Police, the raised incident rate of watch theft is down to two things. Firstly, thieves are becoming more aware of the high value of Tag Heuer watches and other highly reputable brands. Secondly, the increase in the number of jewellers specialising in the sale of pre-owned timepieces has increased demand.

    Accidental loss and damage

    People sometimes lose their watches when the luggage they were being transported in disappears whilst travelling. Others sometimes damage their luxury watches when they play sports. That's why, to prevent you from losing out moneywise if your luxury watch is lost, stolen or damaged, it is vital to have it insured. But what sort of insurance should you take out?

    Using Ordinary Household contents' Insurance

    Some people just rely on their regular house contents insurance to cover items like luxury watches. That's all well and good if the value of the timepiece doesn't exceed around £1,500. You can nominate certain high-value items on household contents policies, and this is key if you decide to go down this route.

    But if you fail to nominate something of specific high value like Omega or Breitling watches, the insurance company may invalidate or undervalue any claim. Another to consider is that if you are a collector of luxury watches, you may find using household contents insurance inconvenient. Unless you update the policy each time you add to your collection, you won’t be fully covered.

    Never Make Assumptions about your home contents insurance

    The best advice to follow is not to assume that luxury watches are adequately covered by home contents insurance. If you do, you may discover that when you come to claim, you are not protected in the way you thought. For example, you may discover that your watch isn’t covered if it’s not at home. Another thing to watch out for is that cover against accidental damage may only be available as an optional extra.

    Rest easy by taking out bespoke luxury watch insurance

    Be safe rather than sorry. Opt for a bespoke, luxury watch insurance policy. Ensure that your luxury watches are covered under a wide range of circumstances and situations. In addition, make sure your policy reflects your timepiece’s current market value. This is important as luxury watches often appreciate over time.

    Whether we are talking luxury Rolex watches, high-end Omega watches, or any other luxury brand, you want to wear your watch with pride, and not squirrel it away wrapped in swathes of cotton wool. Take no chances. Choose bespoke, luxury watch insurance.

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