Buyer’s Guide to the Best Rolex Watch Insurance
Rolex watches are expensive and the long-term value may be questionable. If you want to buy a Rolex watch, take the proper precautions and buy Rolex watch insurance.
Read this blog post to learn what Rolex watch insurance packages are available and how they work.
Read: The best insurance for a rolex watch

What are Rolex watch insurance packages?
Rolex watch insurance packages are a luxury item and are not cheap. What many people don’t know is that insurance packages are actually a great deal.
Many watch manufacturers offer insurance packages, but not all of them are the same.
You will want to make sure that you are getting a watch that is covered in the insurance package. You should also make sure that the insurance package is not too expensive for you.
You should also consider the type of insurance you will need. For example, you may only want to insure your watch against loss or theft. You may want to insure your watch against water damage.
The insurance package may also cover you against mechanical failure. It is important to read the terms and conditions of the insurance package to make sure that you understand what you are getting.
2023’s top watch insurance
- Jewelers Mutual Insurance Group is the best overall.
- Most complaints: BriteCo.
- GemShield offers the best online application experience.
- Wax Insurance is the best for the cheapest coverage.
Jewelers Mutual Insurance Group
Cons & Pros
Pros
- Easy and quick online quotation.
- Appraisals are typically not necessary.
- For maintenance or replacement, you can pick your own jeweler.
- while on an overseas flight, covered.
- Inflation-based adjustments are made to coverage.
Cons
- Premiums are higher than with certain other carriers.
Why We Selected It.
Jewelers Mutual makes insurance for watches simple. Simply fill out three fields to receive an immediate quotation online from the business without providing any personal information. Additionally, you can begin a claim and apply online without an assessment.
You may pick the jeweler you wish to work with if you need your jewelry fixed or replaced. Additionally, Jewelers Mutual doesn’t seem to have any problems with client happiness.
Given its size, the firm has had significantly fewer complaints from the NAIC over the past three years than was anticipated and has received good evaluations on Trustpilot.
Additionally, 1 Jewelers Mutual has over a century of expertise in the market and has received the A+ (Superior) financial strength grade from AM Best, so you can rely on the business
BriteCo
Cons & Pros
Pros
- A $0 deductible is applied to all insurance.
- There haven’t been any NAIC complaints in the past two years.
- more favorable price.
- up to 125% of the assessed value is covered.
- Based on inflation and the value of gemstones and metals, coverage is adjusted yearly.
Cons.
- Personal information is required for online quotations.
Glencar Insurance Company, which has not had any claims filed against it with the NAIC in the previous two years, stands by the watch insurance coverage offered by BriteCo.
A+ (High) financial strength rating from AM Best and wonderful client testimonials on Facebook and Google are additional indicators of the company’s superior claims-paying reliability.
Online quotes are available, however they will be in the form of a range. In order to receive a final pricing, you must still enter more private information. However, you may submit claims and finish your application totally online.
Only degradation, wear and tear, mechanical breakdown, willful separation, and past damage are excluded from BriteCo’s broad, global coverage.
Even some coverage for preventive maintenance is included in BriteCo plans, and
GemShield
It’s simple to get a quotation from GemShield. Only three fields must be completed, and no personal information is needed.
Though you’ll need an assessment for timepieces worth $5,000 or more, a receipt will do for lower-value pieces. You’ll also receive a prompt electronic approval, allowing your coverage to begin immediately.
Though occasionally making exceptions subject to underwriting review, GemShield normally caps single products at $35,000 in value. Your Rolex might not be protected by that.
StarNet Insurance, which provides coverage for GemShield, has received far less complaints over the past three years than was anticipated (based on its market share).
Cons & Pros
Pros
- a brief quotation without regard to identity.
- Apply online with electronic clearance in 10 minutes or less.
- Unexpectedly few complaints were filed with the NAIC.
Cons.
- For timepieces costing $5,000 or more, appraisals are necessary.
- Limits of coverage are rather modest.
- Additionally, StarNet has an AM Best financial strength grade of A+ (Excellent), which denotes a superior claims record.
Wax Insurance
Wax Insurance is best suited to customers with big collections and high-value items because it offers the least expensive coverage of any supplier we evaluated.
Up to $1 million in coverage is available, and only watches and jewels valued at $100,000 or more need to be appraised. Additionally, using the Wax app makes adding additional timepieces to your collection simple.
Simply take a photo, provide some information, receive an immediate price, and buy the extra coverage. You may even be able to borrow money against your collection in some jurisdictions.
Wax will also provide great inflation protection by covering up to 150% of the watch’s assessed value. With no deductible, the organization provides loss, damage, and theft coverage globally. Furthermore, Wax has received good client feedback Here.
Cons & Pros
Pros
- lowest watch premiums of any supplier we examined.
- compensates a covered loss with up to 150% replacement.
- exceptionally high coverage limitations.
- Only watches worth more than $100,000 require appraisals.
Cons
- No immediate quote.
- To apply online, a mobile app must be downloaded.
Read: Engagement Ring Insurance UK: Protect Your Future Wedding Ring

What does Rolex watch insurance cover?
Rolex watch insurance covers the cost of the watch in the event of damage, loss, or theft. This type of insurance is typically offered with a Rolex watch purchase. The insurance will cover the cost of the watch as well as the cost of repairs.
This type of insurance is very cost-effective and will help to reduce the cost of your future Rolex purchase. You can also use this insurance to cover the cost of your watch in case you are involved in an accident.
It is important to note that many insurance companies will not cover the cost of a Rolex if the watch has been damaged or worn by the owner.
Read: What important assets of the organization should be insured

What does Rolex watch insurance not cover?
Rolex watch insurance is a great way to protect your investment. However, it is important to make sure that you understand what your insurance policy covers before you buy it.
This is because some policies don’t cover the whole cost of the watch.
So, if you are looking to buy a Rolex watch, make sure you are aware of the benefits and disadvantages of the insurance policy before you buy it. It is also important to understand what the policy doesn’t cover.
For example, if you want your watch to be insured for a specific amount of time, you should know that the insurance will only cover your watch for a certain amount of time.
What is covered by watch insurance?
The majority of watch insurance providers cover theft, unexplained disappearances, and damage caused by calamities like earthquakes, fire, and water.
When you go internationally, a decent watch insurance policy will also provide coverage.
It’s critical to comprehend what is covered and what to do in the case of a loss when getting watch insurance.
How will you demonstrate the loss of your watch? Will the jeweler of your choice allow you to buy a replacement or fix it? In the event that the value increases, does the insurance provide coverage over the appraised value?
Each insurance provider has a unique operating style.
What Is the Price of Watch Insurance?
The average cost of watch insurance is between 1% and 2% of the watch’s assessed worth. However, your location, the cost of your watch, and the deductible you select will all affect how much your premium will be. In San Diego, California, for instance, a $5,000 watch would cost $70 a year to cover with a $0 deductible if you choose the least expensive firm from our list of the top watch insurance providers. On the other hand, a $50,000 watch in Brooklyn, New York, may cost $1,350 a year to insure with a $0 deductible.
Does Lost Watch Insurance Apply?
Watches that are lost are not covered by homeowner’s insurance. The restrictions are often restricted at $1,500, however they will pay for theft.
But mysterious disappearance is frequently covered by standalone watch or jewelry insurance policies.
All of the insurers in this best watch insurance list will cover a watch that you unintentionally lose, but it’s not a guarantee, so you should inquire with the business before buying a policy.
What Sets a Watch Warranty Apart from a Watch Insurance Policy?
Although costly watches sometimes come with a manufacturer’s guarantee, this is just to cover mechanical failure and occasionally normal wear and tear.
In contrast, a watch insurance coverage safeguards you in case of theft, misplacement, or accidental damage. It makes sense to have both as they each cover distinct types of risks.
Conclusion
If you’re looking to buy a Rolex watch, you might want to consider getting it insured. There are many different types of insurance that you can buy for your Rolex watch, and each one will have its own set of benefits.
This buyer’s guide will help you find the best type of Rolex watch insurance for your needs.
With an uncomplicated quotation and a short application procedure that doesn’t require an assessment, Jewelers Mutual will be able to suit the demands of the majority of individuals.
Another choice for a quick quotation and application procedure is GemShield.
Wax is an option to explore if you’re seeking for the best prices, particularly if you have a pricey watch or a sizable collection, and don’t mind sharing your personal information up front.