Watch Repair Shop Insurance

How to Get Insurance for Your Watch Repair Shop

(There’s never been a better time to get fully protected)

Watch repair shop insurance

As the owner of a watch repair shop, you handle dozens of repairs daily on the numerous components of timepieces.  You also are responsible for very valuable watches that people expect to be handled with great care and attention to detail. 

Would you be able to keep your doors open if an unexpected calamity were to hit you out of nowhere? 

As a watch repair shop, it is essential that you carry the right coverage to ensure your business is protected from any type of casualty. A local independent insurance agent can help you find the insurance plan that fits your specific needs. 

Why Do You Need Watch Repair Shop Insurance? 

Running any business comes with a variety of risks and liabilities. Any number of unexpected events could result in financial ruin without the proper business insurance. When you carry the appropriate coverage, operations can continue despite a significant loss.

Watch repair shops are not immune to accidents. Here are some potential problems that could really put your business at risk: 

  • You damage a customer’s valuable watch in your possession
  • Your employee slips and is injured while working
  • Someone breaks into your shop and steals several watches
  • Your property is damaged during a severe storm

An independent insurance agent can put together a tailored business insurance package to cover any scenario that might arise. 

What Does Commercial Property Insurance Cover? 

Your watch repair shop needs commercial property insurance at the very minimum. This coverage offers a large safety net for events like natural disasters, fires, theft, and vandalism. If a calamity were to occur and wipe out your shop, insurance would cover the cost to rebuild.

Commercial property insurance: This covers your building and everything inside pertaining to the business. It is especially important for a watch repair business that is entrusted with customers'  property on a daily basis. 

Imagine having an unexpected tornado destroy your building and everything you’ve worked tirelessly for. It would be tragic not to have the proper commercial property policy to cover your losses.


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Does Your Watch Repair Shop Need Commercial General Liability Insurance? 

It’s important for your business to have business liability insurance for several reasons. If legal action was taken against your company, your CGL policy would cover the cost of legal representation and damage to the other party if you are found liable during litigation.  

A standard commercial general liability policy typically includes the following: 

Bodily Injury and Property Damage Liability

In the case of personal injury or property damage resulting from your business operations, your policy would cover the damage up to the liability amount. 

Personal and Advertising Injury

Personal and advertising injury coverage would protect your watch repair shop from certain offenses such as libel, slander, copyright infringement, invasion of privacy, and more.

Medical Payments 

Your CGL would cover medical payments to bodily injuries sustained on your business’s property by non-employees. Depending on the size of the claim, litigation is not always needed to make medical payments. 

Both property insurance and liability insurance can be combined into a business owners policy (BOP), which allows you to save money on a comprehensive insurance package. 

An independent insurance agent can determine if your watch repair shop could benefit from additional types of liability coverage. 

What Does Business Interruption Insurance Cover? 

Would your watch repair shop be able to manage in the event that a catastrophe stopped normal business operations for a time? Many businesses overlook the importance of business interruption insurance and it’s a critical mistake. 


After a catastrophe or other disaster:
40% of businesses don't reopen and 25% fail within a year

source: FEMA, SBA via

Business interruption insurance covers the revenue your business was projected to earn during the period of time it cannot operate. Additionally, the policy covers operating expenses like rent and utilities that aren’t able to be paid while work is suspended. 

How Much Does Insurance Cost for Your Watch Repair Shop? 

The price of insurance fluctuates by size of the business, assets, and type of operations, and all of these affect premiums for business insurance. Speak to an independent insurance agent today to discuss a personalized insurance plan for your business. 

Why Use an Independent Insurance Agent? 

Figuring out what business insurance you need can be time-consuming and confusing. With each business being unique, coverage isn’t a one-size-fits-all solution. You've worked tirelessly to build your small business, and protecting it thoroughly only makes sense.

Don’t use just anyone to evaluate your insurance needs. An independent insurance agent has all the expertise needed to find the best coverage for your business. They can do the shopping for you and provide the most competitive rates.

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