Jean-Pierre G. from Quebec, Canada asks:

There is no perfect answer to this question. We assume you are worried about theft and protecting your watch collection investment. People have insured their watches usually have special policies that cover items in their home from theft. Each watch must be carefully cataloged with photographs and careful details must be kept about how much you paid for them. If they get stolen, the insurance is likely to cover what they deem the market value of each watch was when they were stolen, and not a replacement value – which as you can imagine are very different as some watches can depreciate a lot before they ever appreciate.

The simple answer is the best watch insurance is keeping them safe. A handful of companies produce high-end watch safes complete with winders. Among these companies are Brown Safe, Dottling, and Buben and Zorweg. There are probably others as well. Of course you can get a cheaper safe to put your watches in, and perhaps they have electrical hookups inside to attach winders. The best policy is to keep your main collection in the safe and then only have a few out at a time to rotate through when you are wearing them. A good safe is your best insurance policy, and will actually help to reduce insurance premiums significantly. So when is the best time to keep your watches safe or insure them? When you can’t afford to replace them.

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SOURCE:http://www.ablogtowatch.com/ask-watch-experts/when-should-i-insure-my-watch-collection/