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Keeping watch for the watch thieves

The Metropolitan Police reported a staggering 3,190 watches as stolen in the first half of 2023. And in 2022, over £50 million worth of watches were reported stolen in London alone*.

Gangs tend to target watches because they are relatively small, easy to handle, conceal, and then sell on. The gangs often have spotters, who are usually females, looking for easy targets wearing visible watches – those with rolled-up sleeves for example. The spotters then signal the potential victim to a group of three or more men who then forcefully take the watch. Unfortunately, the victims are left with few options once this happens.

In light of this rising trend in watch thefts, we’re keen to ensure our clients are aware of the risks and can take the necessary precautions.

But how can we best advise our clients to be more cautious without taking away the joy of owning and wearing a special watch? One way is to ensure you have the right level and type of insurance cover. Although money from an insurance payout can’t fully compensate for the theft of a valuable watch – especially if it’s a family heirloom – having the right insurance cover in place will at least help with the financial loss.

You can learn more about what to consider when insuring your watch here.

If you’d like to talk to us about insuring your watches, please contact Michael Hillier at [email protected]