Wrist watches today are mostly obsolete, owing to the fact that people just check their phones when they want to tell time. But there are a large number of discerning individuals who purchase and use timepieces, and they are the classy few who can really appreciate the worth of a well-made timepiece.
Well-made timepieces are works of mechanical art. Intricate systems of quartz oscillators, gears and springs that enable a wrist watch to function with over 99.99% accuracy and almost no loss in timekeeping ability whatsoever. Expensive wrist watches may not be worth much to the average Indian who doesn't see their value, but to a person who appreciates fine craftsmanship and the art of watchmaking - they are worth far more than the official price tags.
Owning a watch in 2016 isn't really to have a convenient way of telling time, it's more in order to establish your identity as a discerning individual of wealth and taste. It's as much as a status symbol as it is an accessory to formal attire. Men usually buy multiple fine timepieces to match different suits or outfits, and women generally prefer smaller timepieces that are studded with precious stones like diamonds and sapphire, made entirely out of gold or platinum. There's an old saying that goes "You can tell a lot about a man by his shoes and his wrist watch."
Fine timepieces and luxury watches, like any other luxury item, are usually very expensive. Prices for excellent timepieces from brands like Ethos, Titan, Helios, The Prime, Rolex, Audemars Piguet, Tissot, Fossil, Greubel Forsey, etc. range between a humble Rs.35,000 to a whopping Rs.3 crore - and everything in between.
Expensive items, no matter what they may be, are always under a certain amount of risk of theft, loss, or damage. This is especially true in the case of luxury watches and fine timepieces.
Most retailers and brands that sell expensive luxury watches usually offer insurance at the time of purchase that covers the owner for damages on the watch itself, offers coverage against theft of luxury watches, and provides coverage against loss of these watches.
There are many insurance companies in India that offer insurance policies for valuables like watch insurance. Some of these are listed below:
*Please note that all promotions, amounts, tenures, repayment requirements, time frames, interest rates, other rates, charges, fees, ceilings, requirements, criteria, features, benefits, exclusions, calculations, ratios, averages, ratings, terms and conditions mentioned above are as of July, 2016, and are subject to change at any time. All banks / NBFCs / insurance providers / financial service providers / companies, etc. mentioned above retain all rights to modify, replace, or add to or subtract from any of the above, in any way, at any time, and at their own discretion. You are requested to reconfirm the same with your chosen bank / company / NBFC / insurance provider / financial service provider, etc. before making any financial commitments.
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