Q: Is there a way to pair my watch to a new iphone with out un pairing it from a old phone. My iphone was dropped and has water damage I got a new phone but I don't want to erase my watch as it has information that i need.

you can unpair. When you start the pairing process it asks if you want to install as a new watch or use a back up.

You can not pair a second iphone to a watch.

No, there isn't.

If you have a backup of your old iPhone, you can restore your new iPhone from that. (If your iPhone backup was encrypted - having backed up via iCloud or via iTunes with the encryption option selected - then it also included Health data).

If you were using Apple Watch with the old iPhone, it will have taken backups of your watch automatically.

When you have restored your new iPhone from backup, you can then unpair your watch manually (see below), then - when setting it up on the new iPhone - choose to restore your watch from backup if / when offered the option by the Apple Watch app.

To unpair your watch:

On your Apple Watch: tap on Settings > General > Reset > Erase all Content and Settings.

This will reset your Apple Watch to the factory settings.

Then re-pair it using the Apple Watch app on your iPhone, choosing to restore your Apple Watch from backup when the option is offered:

Set up your Apple Watch - Apple Support