Best Watch Insurance Providers

Jewelers Mutual is our best overall watch insurance provider because it covers most types of watches for damage, theft, disappearance, and loss anywhere in the world, with the option of a $0 deductible. It’s also one of the most reputable companies, with partnerships with the American Gem Society, Jewelers of America, Jewelers' Security Alliance, and many others.

The cost of watch insurance from Jewelers Mutual is generally affordable, but it depends on the piece. The company says that watch insurance will cost between 1% and 2% of the item’s value. You can apply for an insurance quote online to see how much you will pay. Coverage limits vary by state, but the deductible is flexible. You can even choose a $0 deductible.

If you need to file a claim, you can do so through the online customer portal or by calling the company during business hours. Keep in mind that if your jewelry is lost or stolen, you may need to submit a police report as part of the claims process.

One of the downsides of Jewelers Mutual is that it doesn’t offer free appraisals. However, you don’t need one in order to purchase a policy. We also found that the company has some negative customer reviews around claims handling, with some customers alleging unfair payouts for claims.

We chose Lemonade as the best watch insurance company for smartwatches because it’s a digital insurance company. Smartwatch owners who are already accustomed to using their devices will enjoy the ease and convenience of purchasing coverage, managing their policies, and filing claims right from their phones.

You must have a Lemonade homeowners or renters insurance policy in order to access this coverage. However, Lemonade is one of the most affordable property insurance providers on the market. 

Renters insurance starts at $5 per month and homeowners insurance starts at $25 per month. The standard policies come with $1,500 in coverage for smartwatches, but you can also purchase extra coverage if your watch is worth more than $351. According to Lemonade, the average cost to insure a watch is just $9.46 per month.

You can get a personalized rate quote for Lemonade smartwatch insurance online or through the mobile app. If you have owned the watch for less than five years, a receipt is required to insure it. If you’ve had it for more than five years, or if you don’t have a receipt, you’ll need an appraisal. Unfortunately, Lemonade doesn’t offer free appraisals.

In terms of reviews, customers are mostly satisfied with Lemonade’s user interface, low rates, and good customer service. The biggest downside is that it isn't available in every state.

If you own a luxury watch, like a Rolex or Patek Philippe, AXA is our suggestion for watch insurance. AXA will cover your luxury watches on an all-risk basis, anywhere in the world. You can also purchase a scheduled policy or a blanket policy, depending on the value of your watch and the number of pieces in your collection. 

With AXA, your watches are covered anywhere you keep them, whether in a watch case in your closet, in a home safe, or in a bank vault. So, if you wear a $10,000 Cartier watch as your daily timepiece, you can rest assured that the watch is covered wherever you go.

While AXA offers reliable coverage for expensive watches, it doesn't have the most user-friendly website. You’ll need to call the company and work with an agent to get a quote, manage your policy, and file claims.

We also found that AXA doesn’t include much information online about what its watch insurance policies cover. To find out what policy limits and deductible options are available, you should contact the company. We also recommend asking whether or not your watches need to be appraised in order to purchase coverage, which is not stated on its website.

We recommend WAX Insurance for watch collectors, whether your collection is small or extensive. You can cover all of your watches with one policy, and there’s no need to get your pieces appraised. Using the mobile app, you’ll simply take a photo and the WAX team does the rest. Every watch you insure is covered up to 150% of the insured value, up to your policy’s limit

One of the things we like most about WAX Insurance is that the company is entirely mobile. Whether you want to get a quote, file a claim, or add watches to your policy, you can handle everything through the free app. However, there are agents on standby if you need to talk to a real person. 

With WAX Insurance, watch collectors can get unlimited coverage for collections. There’s also always a $0 deductible.

The company doesn’t advertise the price of its policies, so your best option is to get a customized quote through the app. However, WAX Insurance doesn’t underwrite its own policies. The company offers coverage through Chubb.

HODINKEE Insurance sells zero-deductible watch policies, a nice perk that will give you peace of mind in the event that your watches get damaged, stolen, or lost. Additionally, HODINKEE Insurance’s policies are underwritten by Chubb, which specializes in valuable articles coverage.

The cost of watch insurance from HODINKEE Insurance depends on a few factors, including the value of the piece. For instance, an Omega Speedmaster with a price tag of $5,350 would cost about $136 per year to insure. A more expensive Rolex Dayton with a value of $13,150 would cost roughly $335 per year to insure. You can get a free instant quote online.

Another thing we like about HODINKEE Insurance is that appraisals aren’t required for watches valued at less than $100,000. You’ll just need to take a picture of the watch, go through the five-step signup process, and if your policy is approved, your coverage begins instantly. To file a claim, you get access to Chubb’s 24/7 hotline, so you can start the claim process at any time, day or night.

One of the most unique perks about HODINKEE Insurance is that every policy includes investment protection. When you open a policy, every watch you insure is covered up to 150% of the insured value, up to your policy’s limit. So if your insured watch increases in value before a claim, you don’t have to settle for a lower payout.

Out of all the watch insurance companies we reviewed, BriteCo stands out as the best for claims handling. You can file a claim online at any time, without contacting an agent. And every policy includes market value protection, which pays up to 125% of your item’s insured value after a loss if it appreciates.

BriteCo covers most types of watches, including high-end brands like Rolex, Breitling, and Chopard. Watches are covered worldwide against common perils, including theft, mysterious disappearance, damage, and loss.

Watch insurance from BriteCo has flexible coverage limits, and you never have to pay a deductible. It’s easy to get an instant rate quote online by visiting BriteCo’s website. According to the company, most policies cost between 1% and 2% of your item’s appraised value.

With BriteCo, the biggest downside is that appraisals are required in order to insure any watch, regardless of the value. It’s also not the best insurance provider if you want to work with an agent to buy coverage or manage your policy. You can reach a BriteCo agent via phone, but they don’t have local offices.