Valuables Insurance for Watches and Jewelry

More Protection Than Home Contents Insurance: Valuables Insurance for Watches and Jewelry

Do you have an item in your household that is particularly precious and valuable to you? For sentimental pieces like inherited jewelry or a watch proudly worn by your grandfather, money isn't a true replacement if the beloved item is stolen. Nevertheless, comprehensive insurance is important. On the one hand, many watches and pieces of jewelry have not just sentimental, but also material value. On the other hand, damage isn't only caused by burglary or robbery where the insured item goes missing. In case of damage, a repair might save irreplaceable pieces. It's good to have insurance cover for that.

Home Contents Insurance Only Covers Named Perils

Watches and jewelry are household contents. Therefore, they are covered by home contents insurance. However, home contents insurance generally only covers specific perils, which are precisely described in the insurer's terms and conditions. Typically, these include fire, natural disasters, water damage, and theft (burglary, robbery, and simple theft at home). Other damages are not covered. In addition, for perils grouped under theft, there is usually an indemnity limit for valuables, for example, 20,000 Swiss francs. Simple theft outside the home can be additionally insured, but then the limits are significantly lower, for example, 2,000 Swiss francs. Furthermore, jewelry and watches must be correctly included in the total insured sum of the household contents, otherwise, deductions may apply in the event of a claim.

Supplemented by Valuables Insurance

For comprehensive protection of your valuables, insurers offer a special policy, valuables insurance. This can cover not only watches and jewelry but also furs, musical instruments, and electronic devices such as expensive hearing aids. Some insurers set a lower limit for insurability, for example, 500 Swiss francs. Valuables insurance follows the principle of "All Risks" insurance. Valuables insurance is therefore also interesting even if the indemnity limit of home contents insurance is not exceeded. Here, the insured perils are not described, but rather the exclusions. Everything that is not expressly excluded is therefore an insured event. This also reverses the burden of proof. While as a customer with home contents insurance you would, for example, have to prove that a burglary actually occurred and the watch was stolen, the insurer must prove an exclusion to be free from liability. However, the list of exclusions can be long depending on the coverage concept. Jewelry theft from cars, caravans, and boats is often not covered, as well as damage due to wear and tear and damage caused by a jeweler during cleaning or repair.

We would be happy to provide you with a jewelry & watch valuation in our shop, which you will need for valuables insurance. It's best to visit us with your jewelry, watches, and any certificates.

Raspe Uhren & Goldschmiede
Bernstrasse 28
3076 Worb

031 839 25 36

Text: Paul Lehrer (uhrenmeister.com)