A coated article is provided so as to include a low-E (low emissivity) coating having an infrared (IR) reflecting layer(s) of or including a material such as silver (Ag), which is provided between a pair of contact layers. The low-E coating includes an overcoat having at least one layer of or including zirconium oxide and/or a substantially metallic layer. The overcoat has been found to improve the durability of the coating without significantly sacrificing desired optical characteristics. Such coated articles may be used in the context of windows.