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Reasons why you should get insurance for your luxury watches

man luxury watch

There is therapy in keeping a healthy hobby.

Watch enthusiasts like yourself would understand the sense of pride that lies behind collecting luxury and rare timepieces. Besides the sentimental value your collection provides, they often also provide investment value.

As the valuation of most luxury watches increases year-on-year, like any other forms of investment, having appropriate insurance for your collection can help protect your investment. In the case of pre-owned watches and rare luxury brands, you would also need a back-up plan for repair and replacement.

In the unfortunate event of damage, loss or theft of your collection, having comprehensive valuable articles insurance can provide the peace of mind knowing that you’re covered for the current market value of your rare and expensive timepieces.

Here's a few reasons why:


  1. Watches are attractive to thieves

    Eye-catching, hard to trace, and easy to sell; watches will always be attractive to thieves. The growing trend of luxury watches has led to the unfortunate rise in watch crimes1 in recent years.

    This rise could be because of the increase in awareness about the value of luxury brands. It could also be due to an increase in dealers who specialise in pre-owned luxury watches.

    Whatever the case, you can mitigate the risk of theft using watch registration services and insurance.

  2. Home insurance won't cut it

    If your watch collection is worth a relatively modest amount (less than S$2,000), a standard home insurance policy should cover the loss. The problem arises when you continue to add to your collection, and the value rises to a five-figure sum or more. In addition, the low sum insured of a standard home insurance policy may also not provide adequate cover for your actual loss.

    If you have acquired a significant collection, you should consider having a valuable articles coverage policy. Such a policy requires you to list your expensive watches separately and insure them up to their market value. This allows enthusiasts who own high-value precious timepieces to have peace of mind knowing they are sufficiently covered in the event of loss.

    The same can be done for those with other collections like jewellery, handbags or antiques.

  3. Travel increases the risk of theft and damage

    Daily wear and frequent travel would also increase the likelihood of theft, loss, and damage.

    Working with a watch on your wrist may cause strain on the clasp and straps and sometimes leading to strap failure. Leaving your watch in the hotel safe may not be as safe as you’d think as well, given their portability.

    When it comes to airport security screening, if you must remove your watch (depending on the advice of the security officer), you can reduce the risk of damage from the magnetising effects of the X-ray machine, by placing it underneath your other belonging in the tray. Don’t forget to check that you’ve got all your items before leaving the area.

    Watch thefts are also more common than you think. In 2019 alone, a Japanese businessman was robbed of his S$1.2 million Swiss watch right outside his hotel in Paris2 and a tourist in Ibiza was robbed of his limited-edition Richard Mille timepiece, worth up to S$1.7 million3.

    The risk of loss and theft lurks everywhere, that's why having an insurance policy that covers you wherever you travel gives you the peace of mind while wearing your timepiece.


Wear your watch with pride

What is the point of investing in that special timepiece when you can't wear it? A Patek-Phillipe World Time or the Rolex Daytona does not belong in a stuffy safe, and it should rest on your wrist, whenever and wherever you like. You’ve worked hard to enjoy this lifestyle and at Chubb, we believe in providing you comprehensive insurance that caters to your lifestyle needs.

If you would like to find out more on how you can protect your watches and other valuable possessions, leave your contact details via the 'Contact Me' button below and our representatives will get in touch with you.



Sawer, P. (2018, May 31 Published). Database aims to counter surge in luxury watch thefts. The Telegraph. Retrieved from

Yong, C. (2019, Oct 09 Published). Paris thief steals tourist's $1.2m watch after asking him for cigarette: 5 ruses crooks use to rob tourists. The Straits Times. Retrieved from

Clark, T. & Gualtieri, T. (2019, Jul 04 Published). Who Was the Man Wearing the $1.3 Million Watch Stolen in Spain, Azeris Wonder. Bloomberg. Retrieved from


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Disclaimer - The content of the above article is not intended to constitute professional advice. Although all content is believed to be accurate, Chubb Insurance Singapore Limited (Chubb) makes no warranty or guarantee about the accuracy, completeness, or adequacy of the content of this article. Users relying on any content do so at their own risk.

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