Good Question. When I purchased the watch I attached a rider or seperate schedule to my homeowners policy, about $80.00 a year. It was seperate from normal jewelry coverage under the regular policy. I paid $5400.00 incl. tax in 2005. The insurance company who will remain nameless actually gave me poor advice. In the event it is lost or stolen I was told they could replace the watch at wholesale through their own jeweler, so just insure it for what I paid for it. That same model Chrono Evo TT retails now for $8210.00, even at 20% discount it was still way over. I learned a valuable lesson. If your watch is insured check current replacement cost and have your coverage adjusted accordingly.