Our policy is about £870 annually with Santander. That covers my watches (not as high value as yours) and my wife’s jewellery which would exceed your watch value. One claim over recent years for my Apple Watch which I dropped and smashed. Absolutely no hassle to get a replacement - new watch bought in two days. Original watch was from Apple Hong Kong, replacement from UK and no hassle because of that. Highly recommend them. I work with people who pay less than half that for insurance but they don’t have the additional cover.