If you are "older" then you remember the old Timex watch commercial where the purpose of the ad was to let you know how durable and stylish their watches were. "Timex - Takes a licking and keeps on ticking." In today's world, the Timex watch has been replaced by many with a smart watch that allows you to keep track of so much more than just what time it is. The average cost of a smart watch (average across all brands) is between $300.00 - $400.00, so the question is - should you purchase insurance for your smart watch?
Here are the things to consider when deciding whether or not to insure your smartwatch:
How much is your smartwatch worth?
Are you likely to lose or damage your smartwatch?
Is your smartwatch covered by warranty?
How much does smartwatch insurance cost?
One way to decide is to look at the cost of replacing your smart watch versus how much a policy would cost over the course of a year. It isn't as expensive as you would think to purchase insurance for your smart watch. Contact your independent insurance agent to ask about coverage under a Jewelry Insurance Policy. It's a stand alone policy that can cost as little as $5.00 a month.
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