Omega Watch
insurance

How to Insure your Diamond Ring

How to Insure your Omega Watch?

Owning an Omega watch is something to be envied, but also carries with it the need to protect that valuable timepiece around your wrist against loss, theft or damage.

If you are interested in learning how to insure your Omega watch, the first thing you need to understand is that there are a few ways in which you can find cover.

The problem is, some cover is quite simply, better than others. So how do you choose and where can you find a good price?

Starting Out with Problems

Before buying watch or jewellery insurance at the jeweller who sold you that lovely Omega watch, the first thing you need to be aware of is that in the event of damage, that jeweller will most likely be the repairman to first look at your watch. This isn’t necessarily a bad thing, unless you take the time to read about some of the complaints which are circulating around the web.

Many customers are complaining that they left their high-end watches for repairs and when they returned to pick them up, the shop had gone under. There was no way to contact the jeweller and of course, no way to pick up that watch. Although there are some jewellers who have been in business a very long time, that still doesn’t protect them from these trying economic times. You would be better to find a standalone Omega watch or jewellery policy that can be used worldwide should the need arise.

How to Insure your Omega Watch

Will Contents Insurance Cover Your Omega Watch?

Most good contents insurance policies will cover up to a certain limit on Omega watches, but you would not easily find a policy that will cover even close to the value of your watch.

An Omega watch is a precision Swiss timepiece and of course, extremely expensive. Contents insurance generally requires each article over a certain price to be to be valued by an expert appraiser.


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Every item that is listed separately will most likely also carry a higher premium and with contents insurance that premium will often be much more than with a standalone policy from a company like Assurant General Insurance, Ltd. that carries watch insurance, usually in 3 or 5 year policies. Now then, this is where it gets a bit tricky no matter where you purchase Omega watch insurance because the cost of the policy will be directly proportionate to the value of your watch as well as what you want to have covered.

Basic Cost and Cover

When asking how to insure your Omega watch, the first thing to ask is what cover is most necessary. Actually, all good watch insurance policies cover theft/robbery, accidental damage, breakdown and other standard perils. However, you also need to take into consideration whether or not there will be any excess you need to pay out of pocket when having your Omega repaired or replaced.

You can actually purchase Omega watch insurance for as low as £10 in many cases, but that might not provide sufficient cover for a watch that is worth many, many thousands of pounds. Even so, it is important to weigh the cost of replacing a multi-thousand pound watch against a couple hundred quid annually. The point is, if you want the best insurance on a priceless Omega watch, insure it separately or at least as part of a standalone jewellery insurance policy.

Take the time to actually compare quotes from a variety of insurance companies, check out the excess you may be expected to pay and certainly investigate the track record of the company’s willingness to settle claims. You have already paid dearly for that watch; protect it in the best and most reliable way possible. Learn how to insure your Omega watch!


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