I have mine in a safe. I believe that if you make it very difficult and inconvenient thieves will move on to something easier. First off,I live out in a country subdivision, houses are on 5 to 20 acre plots. one very narrow road in and out. About 20 places where parking a sheriff's car would completely block escape, couple of big mean dogs, plus a little mean yippy dog inside. Safe is in a narrow closet, lag bolted through the floor directly into floor joists. Not enough room to get a pry bar inside the closet to tear the safe up from the floor, plus pretty hard to concentrate with all the dogs barking. Best of all a very nosy and suspicious neibor who will call the Sheriff's office if something doesn't look right. Insurance on the genuine watches and wife's jewelry as well.Insurance is mainly to cover loss or theft when we travel, as well as possible loss in a fire. A safe is a good thing not only for your valuable watches, jewelry, but most are fireproof to some extent, and it's a good place to store documents that you don't want to lose. When we go out of town for business or vacation, I even stick my backup hard drive in the safe. How many of us have all our financial records (Quicken,Quickbooks), word documents, etc on a computer that would be a pile of melted plastic and metal if it went through a fire?
So far so good!!