Audemars Piguet Will Replace Stolen Watches for Free

Audemars Piguet made major waves this week after announcing an industry-first, free replacement service for stolen and damaged Audemars Piguet watches. Dubbed “AP Coverage Service”, this service is big news not only for horology, but the luxury goods market writ large. Of course, some limitations apply. Read on for a clean sweep of the new AP Coverage Service.

What is AP Coverage Service?

Audemars Piguet now provides two years of complimentary coverage for theft and for damage due to “sudden” and “unexpected external factors”. The Coverage Service offers the repair, replacement or refund of the watch, depending on the situation, at AP’s sole discretion.

What You Need to Know About AP Coverage Service:

• it is completely free of charge, with no premiums or deductibles
• it applies to any AP watch purchased in 2022 or after
• it does not apply automatically (you need to register your watch with AP)
• it is transferable to a new owner (via sale or gift), as long the new owner registers
• it covers instances of theft and damage (but there are limitations on the coverage)

Why is This Big News?

This is the first time in history that a luxury watch brand has offered free insurance coverage for theft and related damage. What’s more, we’re unaware of any other luxury brands that have similar coverage. The timing for this program is imperative, as luxury watch theft has been on the rise around the world over the last few years.

Audemars Piguet is no stranger to trailblazing in watchmaking, being the first to produce a minute repeater watch, a jump hour complication and a grand complication watch, to name a few. Being the first to offer this level of customer service is a bold pronouncement about Audemars Piguet’s positioning in respect of its clientele.

Learn More: History of Audemars Piguet

Presumably, this would reduce concerns that some prospective buyers might have had about walking around with six figures on their wrist. In other words, it seems like AP doesn’t want you to worry. Just enjoy the watch.

Related Content: How Can I Recover My Stolen Rolex? Take These Steps Before It Happens!

Eligibility and Duration of AP Coverage Service

All Audemars Piguet watches since 2022 from an official sales channel (boutique, AP house, or official retailer) are eligible for the program:

• watches purchased in 2022 are covered until December 31, 2024; and
• watches purchased in 2023 or later are covered for two years from date of purchase.

For the AP owners lucky enough to have purchased their watch in January 2022, they now get 19 months of insurance for a watch they purchased 16 months prior.

How to Register your Watch for AP Coverage Service

To check eligibility and activate the coverage, watches must be registered with AP prior to theft or damage. While the qualifying conditions are simple, and it is not necessary to keep you watch in a safe, AP still must approve the coverage first. To register:

1. Create an online AP Account (or login if you already have one) on the AP website, Your watch should already be in your account.
2. Register your watch. (You can also now extend the Sales Warranty from 2 to 5 years now.)
3. Open your watch details, click “Activate AP Coverage Service,” and upload the requested documents. Note: if this option isn’t there, your watch isn’t eligible.
4. Wait for Audemars Piguet to review and confirm the Coverage Service.

What is Excluded from AP Coverage Service?

Common causes and types of damage from normal wear and tear and environmental factors aren’t covered, but they can still be fixed by AP’s usual servicing. Notably the following is not covered:

• watches that have been serviced or modified by a third-party
• damage to a strap (leather, rubber, rubber-coated)
• voluntary (intentional) damage
• damage when the watch is in the possession of a third party

See AP’s FAQ section for the full list of exclusions. And no, your brother can’t just “steal” your watch. The policy specifically also excludes members of your household…. and also fraud.

AP retains sole discretion replace or refund a stolen watch.

Do New AP Purchases Still Require Independent, All-Risk Watch Insurance?

This ground-breaking free insurance with no premium or deductible goes beyond all-risk watch insurance generally offered by insurance companies. However, it only works with proper documentation, including a photo of the watch, proof of purchase, and the serial number. A police report should it get stole is required as well.

It is important to note that not all AP watches meet the criteria. If a watch isn’t insurable through this new program, we still highly recommend luxury watch insurance.

Obviously, this is all subject to AP’s terms and conditions, which you can read in legalese for more information.

More on Audemars Piguet:

➢	Audemars Piguet Watch Prices: Historical and Current From Actual Sales Numbers
➢	How to Avoid Buying a Fake Audemars Piguet
➢	How Much Does An Audemars Piguet Royal Oak Cost?
➢	Audemars Piguet x Arnold Schwarzenegger Watches
➢	Audemars Piguet vs. Patek Philippe