Jewelry claims rise in December and January
Planning on buying your loved one a sparkly piece of jewelry this holiday season? If so, you’re not alone. According to the US-based National Retail Federation, 23 percent of people are asking for jewelry gifts this year.
However, not all that sparkles remains that way. The Chubb Group of Insurance Companies reports that the number of jewelry claims is 13 percent higher, on average, in December and January than during the other 10 months of the year. These two months account for seven percent more claims than in February, the third highest month.
The reasons for the winter spike in jewelry claims? Chubb says it’s in part due to numbers: more people are buying jewelry as gifts and, therefore, transporting this jewelry, which can lead to more theft. Also, more people are getting dressed up for holiday parties and wearing their best jewelry for the events, which can also lead to more lost items.
In a Risk Conversation blog, Janece White, Vice President, Chubb & Son, offers some tips to keep your bangles, baubles and beads from turning into lumps of coal:
- It’s Not Too Early To Hide Your Gifts: If you’ve just purchased jewelry for a loved one, make sure you conceal it before you leave the jewelry store. Walking around with a jewelry store bag in your hand will make you a target for thieves. Bring an extra bag to carry it in or tuck it inside a purse.
- It’s Yours To Lose Until You Give It As A Gift: Got your shopping done early this year? If you’ve bought jewelry as a gift, you’d better add it to your insurance schedule until you give it away. Those receiving jewelry as a gift should do the same.
- Turn Your Home Into Fort Knox For The Holidays: Now that you’re filling your home with new merchandise, including jewelry, to be handed out during the holidays, make sure your home is secure. Whole house alarms should be on while you’re sleeping and out of the house. Going away for the holidays? Add timers to your interior house lights to make it look like someone is home.
- Don’t Flaunt It: Holiday parties are the perfect time to break out your best jewelry, but you should avoid wearing ostentatious jewelry while taking public transportation. Stow it away until you arrive at the party.
- Annual Check-Up: If you haven’t worn that expensive necklace and matching earrings since last December, inspect them before you put them on this year. Are the clasps in good working order? Are the stones set firmly in place?
- Secure, Don’t Hide: Hiding jewelry in the home rarely works against persistent burglars. You might think a burglar would never look in the sock drawer or the freezer for valuables, but you’d be wrong. On the other hand, valuable jewelry on a dresser in a jewelry box might as well have a sign that reads, “Valuables. Help yourself.” Instead, keep the burglars out with a security alarm system. Valuable jewelry should be stashed off site in a safety deposit box. If you must keep valuables, keep them in a permanently mounted combination-lock safe.
You might also be interested in: Top ten stolen items during the holidays
