Have a watch collection?

High-Net-Worth (HNW) Watch Insurance, Maintenance, and Storage Guide

Luxury & or Collector watches require careful protection through insurance, maintenance, and secure storage to preserve their value and functionality. Below is a comprehensive guide covering the best practices, a comparison of top insurers and a customizable insurance template.

Key Insurance Coverage Considerations

• Agreed Value vs. Replacement Value – Most HNW insurers offer agreed value policies, ensuring payout based on the policy amount, avoiding depreciation disputes.

• Worldwide Coverage – Essential for collectors who travel frequently.

• Automatic Coverage for New Purchases – Protects newly acquired watches before they are added to the policy.

• Storage & Wear Requirements – Some insurers require watches to be stored in safes when not in use.

Recommended: Use a TL-30 home safe with a watch winder for frequently worn watches and a secure vault for investment-grade timepieces.

Next Steps: Submit this template to Cambridge Risk Advisors, and we can approach BerkleyOne, Chubb, PURE, AIG, or other insurers for a personalized quote.

Final Recommendations for HNW Watch Collectors

1. Get Specialized Insurance – Choose agreed value coverage to lock in the payout amount.

2. Store Watches Securely – Use a TL-30 safe for home security and consider offsite vault storage for rare pieces.

3. Maintain Properly – Service watches every 3–5 years, keep them wound, and check water resistance annually.

4. Insure New Purchases Immediately – Ensure new acquisitions are covered automatically before policy updates.

5. Consider Policy Bundling – Bundling watch, home, and auto insurance can lead to better coverage terms and discounts.

Next Steps: Submit this template to Cambridge Risk Advisors, and we can approach BerkleyOne, Chubb, PURE, AIG, or other insurers for a personalized quote.

Final Recommendations for HNW Watch Collectors

1. Get Specialized Insurance – Choose agreed value coverage to lock in the payout amount.

2. Store Watches Securely – Use a TL-30 safe for home security and consider offsite vault storage for rare pieces.

3. Maintain Properly – Service watches every 3–5 years, keep them wound, and check water resistance annually.

4. Insure New Purchases Immediately – Ensure new acquisitions are covered automatically before policy updates.

5. Consider Policy Bundling – Bundling watch, home, and auto insurance can lead to better coverage terms and discounts.

Wondering about costs?

Sample Breakdown of Watch Brands and coverage need.

Best Practices:

• For ultra-high-value watches, consider or seek a. a vault storage discount with BerkleyOne, AIG, Chubb, or Cincinnati.

• Ensure market appreciation coverage for brands like Patek Philippe and Rolex, as their values tend to increase over time.

Mid-to-High-End Luxury Brands ($10,000 – $50,000 per watch)

Best Practices:

• For daily wear watches, ensure loss/theft coverage (Chubb, PURE, Berkley One).

• If stored in a home safe, confirm safe storage discounts with your insurer.

Entry-Level Luxury Brands ($5,000 – $10,000 per watch)

Best Practices:

• For watches under $10K, some HNW policies may not require separate scheduling (covered under homeowners’ insurance).

• If watches are stored in a safe, check if insurers offer bundled home policy discounts.

Reach out for further guidance and strategy around your watch collection, Lifestyle risk insurance/porfolio construction and/or q&a. Looking forward to deepening our relationship with each of you.