Home contents insurance (inboedelverzekering)
- A limit for jewellery and watches together
- Only named perils, such as fire and burglary
- No cover away from the home
- No payout for loss
Jewellery limit · valuation · cover away from home
Insuring your watch against damage and theft
A watch of any value is insured on home contents insurance only up to a limited amount, and usually not at all away from the home. Below you can read when separate valuables insurance is needed and where the limits lie.
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Deze pagina in het Nederlands: Uw horloge verzekeren tegen schade en diefstal.
The calculator and the quote form below are in Dutch. Prefer to do this in English? Email info@finassverzekert. nl or call 072 - 509 24 56 and we will take it from there.
Work out for yourself what it would cost.
Enter your details; you will receive a proposal within one working day.
- We compare the offerings of several insurers
- An adviser checks whether the cover suits your situation
- We arrange the switch, including cancellation
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
In brief
Almost every home contents policy has a payment limit for jewellery and watches. Above that amount you are paid no more after a theft or fire, however high your sum insured. That amount is set out in your policy conditions and with most companies is well below the value of a luxury watch. Home contents cover also applies in principle only within the home: if you are wearing the watch, it falls outside the cover as soon as you step out of the door.
For the excess value you take out a valuables insurance. That insures the watch as a separately named item, usually on a comprehensive basis and with cover in the home, away from the home and while travelling. What is then insured is not only theft and fire, but also drops, knocks and water damage caused by your own clumsiness. The sum insured is fixed per item, usually on the basis of a a valuation report or a recent purchase invoice.
A valuables policy is not a blank cheque. It carries clauses about storage in a safe, about the security of the home and about leaving the watch in a car. If those are not complied with, the insurer may refuse or reduce payment. So read not only the description of the cover, but above all the exclusions and the clauses. See also why home contents insurance falls short here.
What does each policy cover?
The difference lies in the limit, in the place where the damage arises and in the causes that are included.
Valuables insurance
Insures the watch as a named item, away from the home and abroad as well.
- Usually comprehensive: drops and knocks included
- Cover while travelling, often worldwide
- The sum insured fixed per item
- A valuation or purchase invoice as the basis
Clauses and requirements
The payment depends on how you keep and protect the watch.
- Safe clause outside the time worn
- Requirements for locks and fittings or an alarm
- Reporting the theft to the police
- Renew the valuation periodically
What is covered
| Situation | Home contents | Valuables |
|---|---|---|
| Theft from the home after a break-in | Provided that | Yes |
| Theft or robbery away from home in the Netherlands | No | Yes |
| Damage or theft during a trip abroad | No | Yes |
| Drops, knocks or water damage caused by your own actions | No | Yes |
| Disappearance with no identifiable cause | No | Provided that |
| Scratches, wear and tear and damage during repair | No | No |
Which limit for jewellery applies, which clauses appear on your policy and which excess applies are set out in the policy conditions and the insurance card (verzekeringskaart) you receive before taking out the policy.
Where things come unstuck with a watch
Four points that determine whether you are actually paid after damage or theft.
The jewellery limit is the first boundary
Home contents insurance treats watches and jewellery as one group with a combined maximum. If you have a wedding ring and a necklace as well as the watch, those add up and the limit is reached sooner than you think. The limit applies per event: in a single burglary in which everything disappears, you receive that amount once. Only what you put on a valuables policy as a named item falls outside that limit.
The valuation determines what you get back
Above a certain value insurers ask for a valuation report from a recognised valuer, for example someone entered in a register of valuers or working on behalf of an authorised dealer. A valuation that meets the requirements of Article 7:960 of the Dutch Civil Code fixes the value for an agreed period; within that period the insurer cannot argue that the watch was worth less. Without a valuation the market value is established when a loss occurs, and in an argument about market value that often leads to a lower payment. Expired valuations are a common problem.
What a valuables policy does not cover
Even comprehensive cover carries firm exclusions. Usually not insured are wear, scratches and discolouration through normal use, damage that arises during repair, cleaning or treatment to a third party, and the the diminution in value that after a successful repair remains. Also inherent defect, such as a leaking crown or a failing movement, falls under it: that is a warranty matter. On some policies, disappearance without an identifiable cause excluded, and theft from a car is almost always excluded or subject to strict conditions. Intent and recklessness are excluded under Article 7:952 of the Dutch Civil Code.
Clauses and notifications determine the rest
The policy often sets out concrete requirements: keeping the watch in an anchored safe when you are not wearing it, an alarm installation in the home, or a ban on leaving it in a vehicle. If you do not comply, the cover for that event lapses. If something changes, for example a house move or a second home where the watch is kept, report it: on taking out the policy the duty of disclosure in Article 7:928 of the Dutch Civil Code applies, and breaching it can reduce or void the payment (Article 7:930 of the Dutch Civil Code). You report a claim as soon as reasonably possible (Article 7:941 of the Dutch Civil Code), together with a report to the police.
What does your premium depend on?
- Agreed value: the main basis for calculation
- Number and type of items: a single watch or a collection
- Area of cover: the Netherlands, Europe or worldwide
- Security of the home: safe, alarm, locks and fittings
- How it is worn and kept: worn daily or kept in the safe
- Claims history and excess: previous claims count
Insurers weigh these details differently. That is where your saving is.
How we arrange it
- You request a quoteWe take stock of your situation, risk and wishes.
- We compareseveral insurers, on premium as well as conditions.
- You receive a proposalWith an explanation of the differences and the exclusions.
- We arrange the switchIncluding cancellation, so there is no gap in cover.
9.5New policy
9.8Claims handling
Customers rate our service on four aspects: personal service, service delivery, availability and the outcome. The reviews are collected and published by NH1816 and come from customers who have actually taken out a policy with Finass Advies B.V. or reported a claim.
Frequently asked questions
This is what people ask us most.
Is my watch already insured on my home contents insurance?
Partly. There is a maximum amount for jewellery and watches together, and that cover works only within the home and for named causes such as fire and burglary. If the watch is worth more than that limit, or you wear it out of the house, valuables insurance is needed. Check the limit in your own conditions, because it differs from insurer to insurer.
Do I need a valuation report?
Above a certain value, almost always. With a new watch a recent purchase invoice may be enough, but with older or sought-after models the market value differs from the purchase price. A valuation by a recognised valuer fixes that value and prevents argument after a loss. Insurers apply a period of validity to the report; have it renewed in good time.
Am I covered if my watch is stolen abroad?
On a valuables policy usually yes, provided the agreed territory allows it. Always report the theft to the local police and keep the police report. Without one, insurers refuse theft claims. Watch for restrictions on long stays outside the Netherlands and for the exclusion for theft from a car or from unattended baggage.
What happens if I lose my watch without knowing how?
That is called unexplained disappearance. Some valuables policies do cover it, others exclude it expressly or pay only where an event can be shown. This is one of the most important differences between providers and is worth checking before you sign, because with watches disappearance happens regularly.
Will I get money or a replacement watch?
The insurer decides that within the conditions. Where damage can be repaired, repair is usually the route, often compulsorily at an authorised service centre. If repair is not possible, replacement with an equivalent example follows, or payment of the sum insured. Paying above the actual value is not allowed: Article 7:960 of the Dutch Civil Code forbids enrichment through insurance.
Read more
Within Art on home contents or valuables insurance
- Art on home contents or valuables insurancethe main page
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Would you like your watch properly on the policy?
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About our service
Finass Verzekert is a trading name of Finass Advies B.V. We advise on and arrange non-life insurance on the basis of an objective analysis of several insurers, and receive commission for this from the insurer, which is included in the premium. You pay no separate advice fee. Before you take out cover, we establish your wishes and needs.
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This page was written and checked by an adviser at Finass Verzekert. Last updated on .
The information on this page is general in nature and is not personal advice.