Warning as January named as month with spike in gold and jewellery thefts

An insurer has warned of a significant spike in gold and jewellery thefts during January, urging households to review their insurance policies.

Allianz UK, analysing five years of its claims data, found 10 per cent of all reported thefts for watches, jewellery, and luxury goods like designer handbags occurred in the first month.

The average claim for these incidents was around £8,000, with one notable case exceeding £82,000. This trend coincides with a recent surge in gold prices, often seen as a 'safe haven' asset during uncertainty.

Allianz advises homeowners to ensure their valuable possessions are not underinsured.

Some people may have received new items of jewellery over Christmas.

Allianz suggested storing jewellery securely and keeping professional valuations, receipts and photographs.

People should also inform their insurer about any significant changes to their collection to ensure continuous and adequate coverage, Allianz said.

Graham Wright, managing director of home insurance at Allianz UK, said: “Gold and jewellery items are tempting targets for thieves, especially on dark winter nights when burglaries are more common. They often represent significant financial and sentimental value, and it’s important that homeowners take action to ensure their valuables remain safe.

“It’s also crucial homeowners check their insurance policy provides enough cover to match the value of their possessions. It’s easy to underestimate what your home contents are worth and that can lead to underinsurance.”