Watches mean different things to different people. For some there is sentimental value, for others it might be investment value. But the key take away is that they are valuable in some shape or form. So it makes sense that you would want to safeguard your collection but there aren’t many options, at least in Australia, that allow you to do so. That’s where Australian Watch Insurance comes in.
The founders of Australian Watch Insurance found that despite wanting to insure and safeguard their watch collections, they found that nothing was currently on offer that suited their needs.
It became an issue when they felt they were leaving their best pieces in a safe. They asked, “What is the point of having great watches if you can’t enjoy them?”
To solve the problem, they started their own company in part to protect and enjoy their own collections instead of hiding them in safes or bank vaults, and because there is a complete lack of options.
Insurance dedicated to watch owners in Australia is a new concept and is still in its infancy across the world. Australian Watch Insurance found a broker and an underwriter willing to help develop this product and they are now open for business.
It isn’t just insurance specialists on board, absolutely not. The watch industry is very niche and requires experience and specialised knowledge. Luckily, Australian Watch Insurance have both in spades. To help develop the product and manage risks, industry experts and veterans have been brought on board providing over a century worth of cumulative watch industry experience.
The team is confident that this new insurance product can not only offer owners suitable protection, but also better risk management. Who knows what owners need and expect from a product like this than fellow collectors? The team are providers as well as customers.
But how do they manage risk? For starters, they provide the insurance exclusively to Australian Watch Club members and satisfying a compliance requirement. This paid membership provides an additional layer of protection against fraudulent claims, whilst lowering the cost of the premium. Club members additionally gain opportunities to participate in various exclusive members-only events, social get togethers, networking opportunities, masterclasses, and more.
Australian Watch Club is open to everyone. It’s a simple joining process and offering immediate access to the insurance through the member portal.
So why Australian Watch Insurance? Benefits include:
- Worldwide coverage (excluding certain countries)
- Agreed/market value
- Same model replacement (not some dodgy “like-for-like” replacement)
- No maximum value cap per watch
- Whole collection coverage – the more you cover, the more you save
- Accidental damage cover
- Stand-alone cover (no need for a home and contents policy first)
- Available for all purchases both new and second-hand
- Option of valuation for an existing collection by an accredited third-party valuer
For more information, contact the team at email@example.com or visit their website.