Most Householders Comprehensive insurance can cope with watches, just as they can cope with jewellery’and cameras some of which can run into many thousands. As always, read the policy as some insurers separate out cover within the house from cover outside the house. If you intend to wear the watch away from home, chose the right section. Similarly, some will require proof of ownership or valuation and / or place certain criteria on theft, for instance from vehicles.
It’s all so cheap, don’t cut corners to save pennies. It will only turn around and bite you.