The newest Apple Watch, the Apple Watch Series 6, was released in September 2020 and costs £479. There are several other watches available from Apple but, whichever model you have, could you afford to replace it if it was lost, stolen, or damaged? If not, an insurance policy could be a good idea.
We looked at what’s included in cover for Apple watches, so that you can find the best policy for you.
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The Apple Watch range
Apple Watch insurance covers the following models.
|Series 6||Comes with a 40mm or 44mm case, GPS and GPS+, and a 64‑bit dual-core processor. There’s also a blood oxygen sensor, electrical heart sensor, and second-generation optical heart sensor with high and low heart rate notifications. It has a 50% louder speaker, built-in microphone, and 32GB capacity.|
|SE||A 40mm or 44mm case, the option of GPS and GPS + cellular models, and 64‑bit dual-core processor. There’s high and low heart rate notifications and irregular heart rhythm notifications plus it’s water resistant up to 50 metres, has a 50% louder speaker, built-in microphone and 32GB capacity.|
|Series 5||A 40mm or 44mm case, the option of GPS and GPS + cellular models, and a 64‑bit dual-core processor. There’s a second-generation optical heart sensor plus high and low heart rate notifications, and an irregular heart rhythm notification. Water resistant up to 50 metres with a 50% louder speaker and 32GB capacity.|
|Series 4||A 40mm or 44mm case, and 64‑bit dual-core processor, it also has an electrical heart sensor and second-generation optical heart sensor. It’s water resistant up to 50 metres, has Wi‑Fi and Bluetooth, a 50% louder speaker, built-in microphone and 16GB capacity.|
|Series 3||A 38mm or 42mm case, it has a dual-core processor, optical heart sensor, high and low heart rate notifications and irregular heart rhythm notifications. Water resistant up to 50 metres, it has Wi‑Fi and bluetooth and 8GB capacity.|
|Series 2||A 38mm or 42mm case, it has a dual-core processor, optical heart sensor, high and low heart rate notifications, and irregular heart rhythm notifications. Water resistant up to 50 metres, it has Wi‑Fi and bluetooth and 8GB capacity.|
|Series 1||A 38mm or 42mm case, it has a dual-core processor, optical heart sensor, high and low heart rate notifications, and irregular heart rhythm notifications. It’s splash resistant, has Wi‑Fi and bluetooth, and 8GB capacity.|
What does Apple Watch insurance cover?
You can buy insurance for your Apple Watch as a standalone policy from an insurer, as part of a gadget policy which may also include your phone, or you may be able to add it to your existing home insurance policy. However you choose to cover it, the insurance should include the following:
- Accidental damage. If you accidentally break or lose your Apple Watch.
- Loss/theft. You’re covered if your Apple Watch is stolen or lost, as long as you’ve shown reasonable care and haven’t left it unattended.
- Liquid damage. If your Apple Watch is damaged in water.
- Screen and strap damage. Your screen or strap should be repaired or replaced, along with any accessories for the watch.
- Mechanical breakdown. Your insurer will cover the cost of repairing your Apple Watch if it stops working (as well as it’s out of warranty).
What isn’t covered under an Apple Watch insurance policy?
There may be some exclusions to your insurance policy and these will depend upon the insurer, so always check the small print first. Some general exclusions include the following:
- There may be a limit on the age of the watch, most insurers will only include watches that are up to 36 months old at most.
- If you or someone in your immediate family have damaged the watch on purpose, it may not be covered.
- You will need a crime report number if the watch has been stolen.
- Your e-wallet may not be included, which means if someone accesses it, your insurer won’t automatically reimburse you.
Is it worth getting insurance for my Apple Watch?
Insurance is designed to pay out if you have an accident or your watch is lost or stolen. If you could comfortably afford to replace your watch, or pay for any repairs, however often you may need to, then you probably don’t need insurance.
However, if you would struggle to meet these costs, and you’re someone who often loses or damages items like this, insurance could be a good idea.
Should I not just stick with AppleCare?
When you buy a new Apple product you’ll automatically be given AppleCare, which is a 12-month warranty from Apple.
You could upgrade this cover to AppleCare + within the first 60 days. This costs £149 for two years and includes cover for two incidents of accidental damage (you will have to pay the excess), and you’ll get priority support from Apple.
This may be enough cover for you, however, if you do want protection for elements including loss or theft, you’ll need to buy an additional insurance policy.
How to find the best Apple Watch insurance policy
The following steps are a good start to make sure you find the best Apple Watch insurance policy for you.
- Do you need cover? If you could afford to pay for repairs or for a replacement Apple Watch comfortably, then you may not need to buy insurance. If this would be a struggle, and you want the peace of mind of knowing you’re protected, insurance is a good idea.
- Are you already covered? Insurance policies are often thrown in with packaged bank accounts so, if you have one from your bank, double check to see if there is cover included. A multi-gadget policy is another option, and you could add other things onto this, such as your iPhone. You might also be able to add your Apple Watch to your existing contents insurance.
- Compare prices. There are lots of policies to choose from and so it’s important you compare insurers to make sure you’re buying the right policy for you at the right price.
How do I claim on my Apple Watch insurance policy?
How you make a claim will depend on your insurer. However, most will require you to make contact as soon as possible, on the phone or online. You will also need a crime reference number if you’re reporting a stolen watch.
Your insurer might ask for other documents, including the receipt from when you bought the watch and evidence of what has happened to it, so have this handy when you call your insurer.
How much is the excess and how do you pay it?
Most insurance policies have an excess. This is the amount of money you need to pay if you make a claim on the policy. The amount can vary, and you can usually change the level. If you pay a higher excess, you may be able to pay a cheaper premium, for example. However, it’s important to make sure you can afford the excess if you do need to claim.
The insurer will usually take this amount automatically. If, for example, your Apple Watch has been stolen while you were at the gym, and you are making a claim for a brand new watch worth £479, and you have an excess of £50, if your insurer accepts your claim, it will pay you £429.
The bottom line
The type of insurance you choose will be based on the level of protection you want, as well as your budget. You want to buy a policy that covers you, but you also don’t want to be paying over the odds for it. Therefore it’s important to compare insurers and to read the small print in order to find the best policy for you.
Frequently asked questions about Apple Watch insurance
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