Peak time of year for los­ing wed­ding rings rapidly ap­proach­ing

MONEY, MONEY, MONEY

Western Mail - - PERSONALFINANCE -

THE av­er­age claim for lost wed­ding, en­gage­ment and eter­nity rings now tops £1,000, ac­cord­ing to an in­surer.

In 2017, the av­er­age ac­ci­den­tal loss claim for th­ese rings was £1,033 – £131 (14%) higher than in 2016 when it was £902, Co-op In­surance’s anal­y­sis of its own data found.

With many cou­ples ty­ing the knot in the sum­mer months, July is the peak month for this type of claim, ac­cord­ing to the in­surer.

Peo­ple have lost their rings while gar­den­ing, vis­it­ing shop­ping cen­tres or run­ning, the Co-op said. It has also seen cases of rings slip­ping off while peo­ple have been on hol­i­day.

Co-op In­surance said one cus­tomer took their rings off to spring­clean and then could not find them.

The cus­tomer said: “I think I have thrown them out with the rub­bish – I have been through the rub­bish but it could be down the drain.”

In another case, a Co-op claims han­dler said: “Our pol­i­cy­holder was on hol­i­day in Italy and, af­ter ap­ply­ing sun cream, was swim­ming in the sea. He looked down and re­alised the ring was miss­ing and had prob­a­bly slipped off.”

Some­one else who went on hol­i­day thought he had packed his jew­ellery in his wash bag – but when he ar­rived home and started to un­pack, it was not there.

Co-op In­surance also found the num­ber of claims re­lat­ing to lost rings was down by 14% in 2017 when com­pared with 2016 – even though the av­er­age value of a claim has in­creased.

Ian Ker­shaw, head of claims at the Co-op said: “Cou­ples make a lot of ef­fort to en­sure their wed­ding and civil part­ner­ships are mem­o­rable af­fairs, with wed­ding rings be­ing the one thing they can phys­i­cally take with them ev­ery­where to re­mind them of their spe­cial day.

“In July, how­ever, we seem to re­ceive a lot of calls from dev­as­tated brides and grooms who have lost their rings and who are at a loss of what to do next. With the av­er­age claim top­ping £1,000, this could be a costly, as well as up­set­ting, time for many – es­pe­cially if they don’t have in­surance.”

Here are Co-op In­surance’s tips for pro­tect­ing your wed­ding rings:

■ Take pic­tures of your rings – should the worst hap­pen, this means repli­cas can po­ten­tially be made if you can­not re­place them at a shop.

■ Try to avoid tak­ing your rings off in pub­lic places – and never leave them next to a sink where they could fall down the plug­hole.

■ If you do re­move your rings, try to leave them in a spe­cific place in your home away from harm.

■ If you are on hol­i­day, be mind­ful that sun cream can make rings slip off more eas­ily.

■ Con­sider leav­ing your rings in a ho­tel safe when you are on hol­i­day.

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