Are Watches Considered Jewelry For Insurance?

They do, in fact. Some of us use this product as a personal choice adornment, which provides you more confidence in your looks because it will look beautiful on you. As long as this object adds a gleam to your appearance, it qualifies as jewelry.

The majority of individuals believe that diamond rings, chains, and bracelets are the only kind of jewelry accessible. However, not everything is headed in the same direction right now. There are several watches on the market that are easily identifiable by their prices.

We often consider wristwatches and other time-telling devices to be jewelry. However, there is no visible identification that it contains jewelry insurance.

The exact meaning of jewelry is a little more complicated, but it all boils down to one thing. Some of the less expensive brands do not contain any metals or jewels.

You can think of them as jewelry because they don’t have to meet the criteria of having a lot of pricey accessories to be considered jewelry. That is entirely dependent on your unique preferences.

There is also a second category of jewelry that contains high-quality materials. They’re quite fashionable to wear, and they’re a valuable work of art.

Here are a few firms that have explored jewelry but do not use costly materials.

These are the brands that we classify as jewels since they contain high-quality metals and precious gems.

Are watches jewelry or electronics?

We contacted the Insurance Bureau of Canada to address the dispute and received the following response: To begin with, a watch is not considered jewelry. A piece of jewelry is only used for decoration or ornamentation, according to the definition.

Can a watch be insured?

Gold, silver, and diamond watches are extremely expensive and are marketed all over the world. Because these watches are so delicate, many private and national insurance companies in India offer watch insurance as part of their Household Insurance Policy, which covers valuables stored at home or anywhere within specified territorial limits from various perils such as fire, theft, and burglary.

In India, some private companies have begun to offer customized or custom insurance solutions for watches.

What all Watch Insurance Covers?

Some watch merchants offer watch insurance right after the purchase of the timepiece. Watch insurance is available in India through a variety of policies, including Fine Arts and Valuables Insurance Policy and All Risk Insurance Policy. Let’s take a look at the coverage that’s been provided:

  • Accidents, fire, rioting, robbery, and other unforeseeable events that could result in the loss or destruction of the watch are covered by the household’s all-risk insurance policy.
  • Some insurance firms give rebates and discounts on premiums if the policy is renewed without a claim being filed during the prior policy term.
  • Watches are covered under some general insurance policies given by private insurance companies in India if they are in transit or transported from one area to another within the stated territorial limits.

How Watch Insurance Functions?

To better understand watch insurance, you should be familiar with how it works so that you don’t overlook anything important. Let’s take a look at how it works:

  • Examine the cost of your watch and the loss you would suffer if it were to be lost or damaged.
  • Before deciding on a plan, research and compare the insurance company and the policy.
  • In the event of an accident, notify the insurance company as soon as possible to file a claim.
  • The insurance company will either accept or deny the claim after an evaluation.

Watch Insurance Claim Process

When a loss or damage to an insured watch or timepiece is reported to the insurance company, the policyholder or the insurance company should take the following general steps:

  • The policyholder must promptly report any loss or damage to the watch or timepiece protected under the insurance policy to the insurance company via the toll-free number or other customer care channels given by the insurance company.
  • For any insured risks such as theft or robbery, the policyholder must also report to the nearest police station and obtain a copy of the police station’s FIR.
  • The claim form must be submitted to the Policy Issuing Office or the nearest branch of the insurance company where the policy was purchased by the policyholder.
  • The corporation may appoint a surveyor to begin the claim settlement examination for the missing or damaged watch or timepiece. He or she may also arrange for a photo shoot to capture the damaged watch, timepiece, or broken glass, among other things.
  • The policyholder must also present any essential documentation relating to the value of the watch or timepiece covered by the insurance policy, as well as fully cooperate with the insurance company in order to conduct a fair investigation.
  • In the event of theft or robbery of the watch, the policyholder must also submit an Indemnity Bond to the Insurance Executive, along with the police’s Final Investigation Report.
  • The insurance company prepares a final loss evaluation report or an assessment report for the watch or timepiece insured after the Surveyor has reviewed all documentation and facts.
  • The Surveyor in the final report for the watch or timepiece under claim proposes any other compensation in the form of repair, reinstatement, or replacement based on the risks covered and sum promised under the policy.
  • To receive compensation for the loss or damage of the insured watch or timepiece, the policyholder would have to provide ID proofs and banking information to the insurance company.
  • Depending on the insurance company’s terms, the sum assured is transferred to the policyholder’s bank account, or the reimbursement for any repair or reinstatement of the insured watch or timepiece is provided directly to the third-party by the insurance company.

Documents Required for Claim Process

You should have all essential documentation on hand during the claim filing procedure to avoid the claim being denied. The following are the documents:

  • If the covered watch was in the care of the Railways, Hotels, Airlines, or any other body at the time of loss or damage, the policyholder must also notify them.

How Long Does it Take to Pay Out a Claim?

A claim for a watch insurance policy can be settled within 30 days of the claim being filed. If arbitration is involved, the claim may take longer to resolve.

Cases Where you Can’t Claim Watch Insurance (Exclusions)

Exclusions are always mentioned in watch insurance policies by insurance firms. These are situations that are not covered by the watch insurance. Here are a few examples:

  • Acts of war, invasion, terrorism, or civil war result in the loss or damage of a watch or a luxury timepiece.
  • Any radioactive material or other ionizing radiations can cause loss or damage to the watch
  • Regular wear and tear, as well as depreciation of the insured item, can cause loss or damage to the watch.
  • Any legitimate behavior by the policyholder may result in a permanent or temporary disposition.

Companies Offering Watch Insurance in India

Watch insurance can be purchased as a stand-alone coverage or as part of a larger insurance package. It is usually supplied as part of another policy in India. The following are some of the insurance firms that offer watch insurance in India:

Important Aspects

Before you sign a watch insurance policy, it’s a good idea to go over all of the details to ensure you get the greatest bargain. Let’s take a look at some of the characteristics of watch insurance:

  • The insurance company’s notice and communication should be documented. Even if the beneficiary calls to inform you of the occasion, you should get a response or recognition in writing.
  • Customers may also be given a free look period as a trial period before deciding whether or not to purchase a policy for a full year of coverage.

Advantages of Buying Watch Insurance

You should consider purchasing watch insurance to protect a costly object such as a watch. Let’s have a look at some of the advantages of watch insurance in India:

  • Individual watch insurance covers threats of loss or damage from perils such as fire, theft, burglary, and other risks covered by an all-risk policy for households.
  • Some firms additionally provide insurance coverage for watches that are worn, kept, or taken anywhere in India via transit alternatives.
  • Some private insurance companies also offer Extended Warranty Cover for watches to reduce the cost of replacing them if they are lost or damaged due to risks covered by the policy.
  • Some firms’ claims settlement processes are simple and quick for customers who have purchased insurance to protect their watches or luxury timepieces.
  • In the event of a mishap with the watch insured, some companies also provide a free review or assessment of the loss to the policyholder.
  • A few private insurance providers in India also offer watch protection by providing worldwide transit coverage with claims settled in Indian rupees.
  • Some insurance firms also provide twice-yearly claim settlements, but the maximum liability is limited to the Sum Assured.


Q1. Does any insurance company cover the cost of repairing a watch or timepiece purchased from a store?

Yes, some private firms provide repair reimbursement straight to the retailer where the watch was purchased, although the customer may be required to pay additional fees if appropriate.

Q2. Is it possible for an insurance firm to cancel a watch insurance policy during the cover period or policy term?

Yes, the insurance company can cancel the policy after giving the policyholder a reasonable amount of notice and processing a refund of the premium amount on a pro-rata basis or at the applicable rate.

Q3. Does the insurance company cover digital watches sold by firms such as Apple, Casio, and others?

Yes, insurance firms in India normally cover all smart watches or digital watches sold by such companies. It is necessary to check with the insurance carrier to see if a specific model is covered under the policy.

Q4. Will the insured wristwatch be covered by insurance while traveling by air from Delhi to Mumbai?

Yes, certain insurance firms offer transit insurance, which protects the watch from a variety of dangers when traveling around India. Any loss or damage to the watch caused by the aircraft, other aerial devices, or anything dropped there from may be covered by supplementary rider benefits.

Q5. Is it possible for an insurance company to provide immediate protection for a watch acquired from a reputable retailer?

Yes, certain private insurance firms offer this service. Even retail stores in India have business agreements with a few private insurance providers that provide immediate insurance coverage for watches purchased from the store.

Is an Apple watch considered jewelry?

Apple is known for creating some of the top goods in all of its categories. Apple has a remarkable knack for style that has yet to be exceeded by its competitors, from smartphones to desktops. They are not recognized for being the first to market a product in a category, but they are known for refining it and making it valuable to the consumer. It’s the same with the Apple Watch. Apple has taken the relatively young category of smart watches to a whole new level with the Apple Watch.

While other companies started with a smart gadget and then added a watch and a band, Apple chose to start with a beautiful watch and then find out how to add the electronics to make it a smart watch. When you take a normal Android-based smart watch out in the sun, you can clearly see this mindset. The device’s screen is simply unreadable, making it a lousy watch, whereas the Apple Watch’s Retina display can readily be viewed in even the brightest sunlight.

Many manufacturers have also attempted to squeeze as many capabilities as possible into a smart watch, making users to continually swipe and tap to access all of the functionality. The majority of watch interactions, on the other hand, last only a few seconds at most, and Apple took this into consideration while creating the interface. It’s simple to use and only requires a few clicks to get the information you need. To that purpose, Apple has created a new Force Touch technology that can tell the difference between a tap and a full press when using the device, and the digital crown may be used as a Home button, scroll dial, or selection button based on what’s on the screen at the time.

While Apple is known for leaving alternatives out of its first-generation devices, the Apple Watch was designed with fashion and aesthetics in mind. As a result, Apple has included three watch case alternatives: aluminum, stainless steel, and 18-karat gold, as well as six band variations, allowing you to customize the watch to your liking. Once the Apple Watch is released, you can expect to see a slew of new band options, in true third-party fashion.

Apple goods are renowned to be more expensive than many of their competitors, owing to their excellent design, and the Apple Watch is no exception. It will be one of the most costly smart watches on the market, starting at $349, but it will also be one of the most practical and elegant. Furthermore, the Apple Watch will only work with an iPhone 5 or higher and will not sync with other smartphone platforms.

So, is the Apple Watch a device that will improve our lives or just expensive jewelry to be worn as a fashion statement? The truth is that it is both, and it is the first smart watch in the category to be classified as both a gadget and a piece of appealing jewelry. Apple has realized that current smart watch devices are too bulky, clunky, and unattractive on the wrist. Nobody wants to be mistaken for a Japanese businessman in 1979. Apple has built a device that is both a functional and useful extension of the iPhone and a gorgeous piece of jewelry that will look excellent on any wrist since consumers use watches as a jewelry accessory.

Can I put insurance on my Rolex?

In the case of Rolex, the company’s warranty covers the watch for five years from the date of purchase, excluding wear and tear, loss, theft, or damage. There is also no option for an extended warranty. As a result, watch owners may wish to consider purchasing insurance to protect their investment.

Is a watch considered electronic?

The device that measures the passage of time and displays the current time is known as a watch movement (and possibly other information including date, month, and day). Movements can be completely mechanical, completely electrical (perhaps with no moving parts), or a combination of both. Electronic movements are used in most watches designed primarily for timekeeping, with mechanical hands on the watch face indicating the time.

Do watches come underneath electronics?

New Delhi: In an effort to curb the flow of sub-standard and dangerous electronic items into India, the ministry of electronics and information technology (Meity) has placed smart watches and CCTV cameras under its scrutiny.

Are watches a Good Investment?

Investing in timepieces is a terrific method to make money, particularly if you have money sitting in a dormant savings account. Since the 1970s, the price of a stainless steel Rolex has remained constant. When Rolex notices that market prices are rising, they raise their own RRP to keep up.

Can you insure an expensive watch?

All types of luxury and designer watches, including top brands like Patek Philippe, Vacheron Constantin, Audemars Piguet, Blancpain, Chopard, Rolex, Omega, Tag Heuer, Cartier, and Breitling, can be covered by your home insurance. But keep in mind that if they’re worth more than your provider’s single item limit, you’ll need to make sure they’re covered separately.

Apple and Garmin smartwatches are also covered, however they are normally classified as gadget insurance rather than watches.