How do I insure a Rolex or other luxury watch in Germany?
In short
At home, a Rolex or other luxury watch is covered by German contents insurance (Hausratversicherung) only for burglary or robbery, usually up to about 20 percent of the sum insured. If you wear the watch and want cover for drops, simple theft or loss, you need separate watch insurance. It costs about 1 to 2 percent of the watch's value a year, so roughly EUR 150 to 200 for EUR 10,000.
Guide values from published guides and policy examples in Germany.
Example
Typical range
Watch insurance, rule of thumb
about 1 to 2 percent of the watch's value a year
Watch worth EUR 10,000, no loss cover
about EUR 150 to 200 a year, one example EUR 178.50
Rolex with EUR 10,500 list price, with loss cover
about EUR 31 a month
Contents, 120 square metres in Munich, sum raised for a watch
from about EUR 15 to 18 a month
Guide values, guides dated May 2024 to August 2026.
Your premium depends on value, wearing, location and loss cover.
Worked example
Rolex worth EUR 10,000, worn every day
Contents sum EUR 60,000, the watch is worn daily and when travelling.
Valuables limit at 20 percent
EUR 12,000, only for burglary and robbery
Watch insurance without loss cover
about EUR 150 to 200 a year
Dropped on tiles, repair
contents no, watch insurance yes
For a luxury watch you wear, separate cover closes the gap for about EUR 13 to 17 a month.
What contents insurance pays for a luxury watch
German contents insurance treats watches with jewellery value as valuables (Wertsachen). According to the German insurers' association, the cap is usually about 20 percent of the total sum insured, and often lower outside a safe.
The watch is covered for burglary and robbery, not when it slips off your wrist, is left in a hotel or is stolen unnoticed. For a Rolex that stays in a safe, a higher contents sum may be enough.
What happens to the luxury watch
Contents insurance
Watch insurance
Burglary at home
yes, up to the valuables limit
yes
Robbery in the street
usually yes, limits apply
yes
Dropped on tiles, glass breaks
no
yes
Pickpocketed without noticing
no
yes, depending on the policy
Left in a hotel
no
only with loss cover
What separate watch insurance covers
Watch insurance protects one specific watch against many risks at once. It applies worldwide and while you wear it, and pays for theft, robbery, drops and breakage. Some policies also cover loss and leaving the watch behind, for example after six months and with a 20 percent excess.
Guides quote 1 to 2 percent of the watch's value a year, towards the top end for watches you wear. Policies with loss cover cost more: one example for a Rolex with a EUR 10,500 list price was about EUR 31 a month.
Insuring the right value
Popular models often trade above list price on the second hand market. If you insure only what you paid, you will be short after a claim. Have the value of your luxury watch checked regularly and adjust the sum.
Keep the receipt, box, warranty card, photos and serial number apart from the watch, ideally also digitally. Without proof any claim becomes harder.
When you do not need watch insurance
If you rarely wear the watch and it otherwise sits in a safe, contents insurance with a high enough valuables limit is often enough. In one Munich example, adding a Daytona raised the contents premium only from about EUR 15 to 18 a month.
Norman Nammert arranges cover as an insurance broker (Versicherungsmakler) and checks whether contents insurance is enough for your Rolex or other luxury watch. The insurer pays the commission, so it is free for you.
Step by step
Find out the watch's current value, not just the purchase price.
Read the valuables limit and safe rule in your contents policy.
Decide whether you wear the watch or keep it in a safe.
If you wear it, choose watch insurance with worldwide cover.
Store receipts, photos and serial number safely.
Checklist
Sum insured matches replacement price
Worldwide cover while worn
Drops and breakage included
Loss and leaving behind settled if you want it
Excess and waiting period known
Safe requirements of your contents policy met
Common mistakes
Thinking contents insurance pays if you lose the watch
Insuring the list price when the market value is higher
Keeping box and papers next to the watch
Not raising the valuables limit after buying
Questions and answers
Frequently asked
Is my Rolex covered by contents insurance in Germany?
At home for burglary and robbery, usually up to about 20 percent of the sum insured.
Drops and loss are not covered.
How much does watch insurance cost?
About 1 to 2 percent of the watch's value a year, more with loss cover.
Can I insure against losing a luxury watch?
Yes, with some policies, often only after a waiting period and with an excess.
Do I need a safe?
Contents policies often set lower limits outside a safe,
and the terms name minimum standards for it.
Which value should I insure?
What you would pay today for the same watch.
For popular models that is often above list price.
