Get Answers To The Essential Insurance Questions

Can you insure a watch against loss or theft globally?

Page Views: 294



Can you please provide details on insurance for a watch with a value of HKD 185,000? I live in Hong Kong but want to be covered for loss or theft globally.


Watches and other specified items can be covered against loss or theft on a worldwide all risks basis under a Hong Kong home insurance plan. This ensures that you are able to receive comprehensive coverage should you lose your watch, anywhere in the world.

However, with a possession of such significant value it is important to declare the watch as a “specified item” when setting up a home insurance policy as many contents plans will not cover single items up to such a high limit.

When declaring a specified item you will need to provide proof of ownership and value upon applying for the insurance – the coverage will not normally allow for protecting specified items against loss or theft without a formal valuation, so it is imperative that this is provided.

Comprehensive home contentsinsurance plans which would be able to offer the coverage you are looking for will normally start in the region of HK$ 2,500 per year, but including a costly specified item under the plan will usually increase the premium. The amount of premium increase is set by the insurer’s internal underwriting team and is done on a case-by-case basis dependent on the specific items specified for coverage under the policy.

For example, applying Worldwide All Risks coverage to a small, easily lost item like a watch is normally much riskier than applying the same coverage to a painting of similar value simply due to the fact that it is unlikely that the painting will be taken out of your home.

For more information or to receive a free home insurance quote, please Contact CCW Global Today!

Answered on: 4 May, 2017 14:28

Follow-up Questions:

Did we miss something? Login and ask a follow-up question.