Rolex Insurance: What It Offers & Why You Need It

Do You Need Rolex Insurance? What You Should Know

Rolex is one of the most well-known watch brands in the entire world. Since 1905, the Rolex brand has made an indelible mark on the industry with its array of luxurious and fine watches, producing notable models that are now synonymous with wealthy investments, such as the Rolex Submariner, Rolex Daytona, and Rolex Perpetual.

You can easily spend tens of thousands of dollars buying a Rolex watch, which holds its value over time (some even substantially increase in value over decades). As such, you likely want to protect your investment through Rolex insurance.

In this guide, we discuss what is Rolex watch insurance, what watch insurance covers, where to get it, and answer how much does it cost to insure a Rolex.

Insurance for Rolex Watch Models Vs. the Rolex Guarantee

First, it’s important to understand what Rolex insurance actually is and how it differs from the Rolex guarantee. You may think that you already have the best insurance for Rolex watches with that guarantee, and while it’s definitely valuable, it’s not all-encompassing.

What the Rolex Guarantee Covers

The Rolex guarantee is its own kind of warranty. It guarantees that your watch will remain functioning properly for at least five years from the date of purchase. If your watch stops working, you can take it in for service, free of charge.

However, the guarantee is only valid for the first five years. And it’s only valid if…

• You purchased your watch from an official Rolex jeweler
• The jeweler completed the guarantee paperwork at the time of purchase
• You can present the paperwork whenever you need service

There are other limitations, too. This guarantee will not help you if you need service to address issues such as…

In short, the Rolex guarantee will only cover repairs if the watch stops working on its own, for no obvious reason.

What Rolex Watch Insurance Covers

In contrast, when you insure a Rolex watch through an insurance company specializing in jewelry and luxury watch insurance, you’ll find more extensive coverage for complete peace of mind. For example, BriteCo’s watch insurance policies cover the following:

• Accidental damage
• Mysterious loss
• Theft

This means that, if your watch is stolen from your home (or even while traveling, thanks to BriteCo’s worldwide coverage), you can replace it with an identical Rolex model or one equal to the original watch’s value. So, if you accidentally bump or scrape the watch face during everyday activities, you can get it repaired. Even if your valuable watch simply goes missing and you have no idea where it went, you can replace it.

How Much Is Insurance on a Rolex?

Rolex watch insurance cost can vary, but you can expect to pay about 1–5% of your piece’s market value every year in premiums. (This is why the appraisals process is important.) So, if you purchased a $20,000 Rolex watch, you can expect to pay between $200 and $1,000 per year to insure it.  When you think about how much it would cost to replace your luxury watch, or even schedule maintenance and repairs, that annual cost may be well worth it.

Can You Insure a Rolex Watch Through Homeowners Or Renters Insurance?

If you’re thinking, “Won’t my homeowners or renters insurance cover my Rolex?” Well… yes and no.

Homeowners or renters insurance will reimburse you if your high-value items are stolen from your home during a burglary, or if you’re the victim of a qualified natural disaster. However, most of these policies only pay a minimal amount for jewelry — maybe a few thousand dollars if you’re lucky. That’s nowhere close to the accurate value of an authentic Rolex watch.

Furthermore, besides not reimbursing you for your Rolex’s true value, these policies only cover particular circumstances.They won’t cover you at all during random accidents and unexpected events. If you’re swimming, take off your watch to apply sunscreen, and accidentally drop it underwater, you’re out of luck. Same if you’re hiking, have a bad fall, and later find a nasty scratch on your watch’s metal band.

As such, when considering how to insure a Rolex watch, don’t just assume that your existing insurance will protect all your assets.

Ready to Get Insurance for Rolex Watches? Here’s the Next Step

Getting insured is easy and, in many cases, can be done the same day. To get started, you’ll need a few items handy as you begin exploring your jewelry and watch insurance options.

First, most insurance companies will require that you have documentation available, not only to ensure you don’t have a fake Rolex on your hands, but also so they can get a good idea of your watch’s value during the underwriting review. This may include:

• Appraisal documentation
• A sales receipt or purchase order

With these items in hand, you can get quotes and assess your total Rolex insurance cost.

Rolex Insurance FAQs

What Does the Rolex Guarantee Not Cover?

The Rolex guarantee does not cover normal wear and tear, or any damage caused by your own actions, whether accidental or intentional. The guarantee pretty much only covers damage related to an unforeseen watch malfunction.

How Much Is Insurance on a Rolex?

The cost to insure Rolex watches will differ from provider to provider, but with BriteCo, watch insurance cost will be 1–5% of your model’s value per year.

What Will Briteco’s Rolex Watch Insurance Cover?

BriteCo’s insurance protects you if your luxury watch is stolen, goes missing, or is accidentally damaged. Our policies extend worldwide, so you’re covered even if your watch is stolen, lost, or damaged while traveling internationally.

Will My Homeowners Or Renters Insurance Cover My Watch?

While a homeowners or renters insurance policy may give you some sort of payment to cover a stolen watch, it won’t give you enough to fully replace it. That means you’ll need to dip into your own pockets to cover the majority of the replacement cost in addition to paying a deductible.

How Often Do You Have to Pay for Watch Insurance?

If you purchase a policy through BriteCo, you can choose to pay for your policy on a monthly or annual basis. If you choose to pay for your policy annually, you’ll receive a discount.

Ready to Invest in Specialized Watch Insurance? BriteCo Has Your Back

When you’re ready to protect your Rolex, the process is simple and straightforward. First, get your BriteCo watch insurance quote. If you’d like to proceed, you can then choose to pay for your coverage either annually or month-to-month. When you make the first payment, you’ll be covered immediately.

If you ever need to make a claim on your policy, the process is similarly convenient and can be conducted entirely online, ensuring you never have to pocket expenses for watch replacement or damages again.

Get started by filling out our quick form now!

Related Article:

Why You Need Omega Watch Insurance

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