Skip to main content
The Actuary: The magazine of the Institute and Faculty of Actuaries - return to the homepage Logo of The Actuary website
  • Search
  • Visit The Actuary Magazine on Facebook
  • Visit The Actuary Magazine on LinkedIn
  • Visit @TheActuaryMag on Twitter
Visit the website of the Institute and Faculty of Actuaries Logo of the Institute and Faculty of Actuaries

Main navigation

  • News
  • Features
    • General Features
    • Interviews
    • Students
    • Opinion
  • Topics
  • Knowledge
    • Business Skills
    • Careers
    • Events
    • Predictions by The Actuary
    • Whitepapers
    • Moody's - Climate Risk Insurers series
    • Webinars
    • Podcasts
  • Jobs
  • IFoA
    • CEO Comment
    • IFoA News
    • People & Social News
    • President Comment
  • Archive
Quick links:
  • Home
  • The Actuary Issues
  • July 2016
07

Theft and accidental loss the most common reasons for jewellery claims 

Open-access content Wednesday 6th July 2016 — updated 5.50pm, Wednesday 29th April 2020

Four in 10 (41%) of jewellery-related claims are caused by theft, according to research.

2


Based on data from Churchill, accidental loss also generates the same amount of claims, while accidental damage is the reason for 18% of cases. 

Rings are the most common items reported to insurers, accounting for 22% of claims. Watches come second (12%), followed by earrings (10%) and bracelets (7%).

In a separate study, based on a survey of more than 2,000 UK adults, 17% believe they own jewellery that could be considered vintage or antique. Of those, 41% confirmed their pieces are not accounted for on their home insurance policy.

Martin Scott, head of Churchill Home Insurance, said: "We urge people to regularly take the time to have their jewellery valued and make sure they are comprehensively insured on a policy that protects the full value."

The survey also shows 16% of respondents do not have any type of home insurance, "offering no protection for their crown jewels". Of those who are insured, a third (34%) do not know if their policy has a single item limit. 

"It is important to consider if you have an item which exceeds the policy limit and follow the procedure necessary to insure that item," Scott said. 

"For many, the impact of under-insurance is only realised when it's too late, but this is preventable."


Most common reason for claiming

Theft - 41%

Accidental loss - 41%

Accidental damage - 18%


Most common jewellery item claimed

Ring - 22%

Watch - 12%

Earrings - 10%

Bracelet - 7%

This article appeared in our July 2016 issue of The Actuary.
Click here to view this issue
Filed in
07
Topics
General Insurance

You might also like...

Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Latest Jobs

Life Actuarial Trainee

England
Up to £55000.00 per annum
Reference
145815

Catastrophe Manager - Top Performing Syndicate

England, London
£70000 - £94000 per annum
Reference
145814

Senior Pricing Analyst

London, England
£40000 - £80000 per annum
Reference
145813
See all jobs »
 
 

Today's top reads

 
 

Sign up to our newsletter

News, jobs and updates

Sign up

Subscribe to The Actuary

Receive the print edition straight to your door

Subscribe
Spread-iPad-slantB-june.png

Topics

  • Data Science
  • Investment
  • Risk & ERM
  • Pensions
  • Environment
  • Soft skills
  • General Insurance
  • Regulation Standards
  • Health care
  • Technology
  • Reinsurance
  • Global
  • Life insurance
​
FOLLOW US
The Actuary on LinkedIn
@TheActuaryMag on Twitter
Facebook: The Actuary Magazine
CONTACT US
The Actuary
Tel: (+44) 020 7880 6200
​

IFoA

About IFoA
Become an actuary
IFoA Events
About membership

Information

Privacy Policy
Terms & Conditions
Cookie Policy
Think Green

Get in touch

Contact us
Advertise with us
Subscribe to The Actuary Magazine
Contribute

The Actuary Jobs

Actuarial job search
Pensions jobs
General insurance jobs
Solvency II jobs

© 2023 The Actuary. The Actuary is published on behalf of the Institute and Faculty of Actuaries by Redactive Publishing Limited. All rights reserved. Reproduction of any part is not allowed without written permission.

Redactive Media Group Ltd, 71-75 Shelton Street, London WC2H 9JQ