Watch insurance 

There’s a few ways you can get insurance for your watch. Compare your options below.

Key takeaways

  • There are 4 main ways to cover your watch, so you can look like a boss and feel at peace.
  • You can get contents insurance, or standalone cover for your (awesome) timepiece.
  • Portable item cover can also cover your watch outside your home, so you can look like a boss everywhere.

What is watch insurance?

Watch insurance is a type of insurance designed to protect the value of your watch by replacing it or repairing any damage. Insurance for your watch can be found in many ways, such as through home insurance, contents insurance, single item insurance or specialist watch insurance.

Contents Insurance Icon

Contents insurance
A contents insurance policy is a type of home insurance that protects your belongings (contents within your home), including jewellery and watches. It automatically covers watches up to a certain limit. If the value of your watch exceeds this amount, you can always add more cover for specified personal effects. You might also want to add on portable contents cover so that your watch is covered outside of your home.

Home and contents

Home and contents insurance
Home and contents insurance is for those who own their own home and want to insure that as well as their watch. It covers your watch in the same way as above with just the contents policy, but will also include insurance for your home building too.

Handbag Icon

Single item insurance
If you don't own anything else of huge value and you want cover for your watch only, single item insurance could be the right option for you. It says it all in the name, you insure specific items only. Make sure you compare it to the cost of other insurances though since you might get better value out of a home insurance policy.

Jewellery Box Icon

Specialised jewellery and watch insurance
There are a few insurers out there, like Q Report and JewelCover, that specialise in insuring jewellery and watches. You'll probably have to pay a little more for this specialised insurance since it also offers things like valuations of your watch and the ability to choose your own jeweller if your watch needs replacing or fixing.

Compare specialised jewellery insurance

Product AUFJI Loss and Theft Cover Damage Cover Cover outside of Australia Additional Cover Agreed Value Cover
25%
50%
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Compare contents insurance policies for watch cover

Name Product AUFHO Watches Jewellery Portable Contents Cover Accidental Damage to Home or Belongings Fire, Storm & Theft Damage Online Discount
Youi Contents Insurance
Best Rated Brand
Youi Home Insurance logo
Optional
Optional
Optional
Optional
Our verdict: Finder’s 2022 Insurer of the Year for Customer Satisfaction and our Top Pick for Fire Damage cover. It’s good if you want a tailored quote over the phone.
Budget Direct Home Insurance logo
up to $1000 per item, up to $5,000 in total
Optional
Optional
Our verdict: The most popular insurer on Finder, Budget Direct prioritises low-cost cover and gives you 15% off your first year's premium if you purchase online. You need to pay extra for flood cover and accidental damage.
QBE Home Insurance logo
$2,500
Optional
Optional
Our verdict: It covers essentials such as fire and theft plus comes with some good perks such as security upgrades after a burglary and up to 10% off your first year.
Qantas Home Insurance logo
$5,000
Optional
Optional
Our verdict: Earn up to 40K Qantas Points for joining by 29 January. Plus save 30% on your 1st year’s premium for purchasing a combined home and contents policy online. T&Cs apply.
ALDI Home Insurance logo
up to $2000 per item, up to $6,000 in total
Optional
Optional
Huddle Home Insurance logo
Up to $1,000 per item
Optional
Honey Home Insurance logo
$6,000
Optional
Optional
Our verdict: Honey gives you $250 smart sensors to reduce accidents and estimates the value of your contents. It was also a finalist for the comprehensive category in the Finder Awards.
Kogan Home Insurance logo
$2,500
Optional
Optional
Our verdict: Good comprehensive cover (issued by QBE). Also, get $5 Kogan.com credit when you purchase a new Kogan contents insurance policy online. T&Cs apply.
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How much does watch insurance cost?

ProviderPremium cost without watchPremium cost with watch
Budget Direct Logo$511.24$753.65
NRMALogo$561.93$574.63
AAMI insurance$582.59$585.54
QBE logo$1,080.07$1,125.54
GIO Logo$525.13$529.28

This information is accurate as of November 2024.

How to find the right watch insurance for you

There are a lot of watch insurance options and the right fit for you will depend on how you use your watch, how expensive it is and how thoroughly you want to protect it. Here's some questions you can ask yourself to help know what level of cover might be right for you.

  1. Do you wear your watch outside of the home? If so, you might like to ensure you're covered for times outside of the home.
  2. How much is it worth? If your watch costs $30,000 for example, then a contents policy with a maximum payout of $7,000 is going to be useless to you. In this instance, you'd be better off looking at specialised insurance.
  3. Do you care who repairs it in the event of damage? If your watch becomes damaged to the extent that you decide to make a claim, do you mind who is assigned to repair it? If yes, you'll likely need to look into specialised insurance.
  4. Do you already have a home and contents policy? If yes, it's worth checking how your existing policy covers watches and seeing if you're happy with the level of cover here. There's no use taking out an additional policy if you're already covered to an appropriate extent with your existing insurer.

FAQs

Gary Ross Hunter's headshot
Editor, Insurance

Gary Ross Hunter was an editor at Finder, specialising in insurance. He’s been writing about life, travel, home, car, pet and health insurance for over 6 years and regularly appears as an insurance expert in publications including The Sydney Morning Herald, The Guardian and news.com.au. Gary holds a Kaplan Tier 2 General Advice General Insurance certification which meets the requirements of ASIC Regulatory Guide 146 (RG146). See full bio

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Gary Ross has written 645 Finder guides across topics including:
  • Health, home, life, car, pet and travel insurance
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Publisher of Insurance

Peta Taylor is a publisher at Finder, working across all of insurance. She's been analysing product disclosure statements and publishing articles for over 2 years. Peta is passionate about demystifying complex insurance products to help users make well educated decisions with confidence. Peta is part of Finder's insurance awards team and works alongside editorial and insights experts to bring users the best insurance products every year. See full bio

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