The streets really are paved with gold: brits misplace 9 billion worth of fine jewellery and precious stones

THE STREETS REALLY ARE PAVED WITH GOLD: 
BRITS MISPLACE 9 BILLION WORTH OF FINE JEWELLERY & PRECIOUS STONES 

• One in four (26 per cent) people have lost fine jewellery or precious stones in the past five years
• Almost a third (30 per cent) of these items were lost in the street 
• 1.7 million lost diamonds scattered across the UK 
• Gold rings are the most commonly misplaced items of jewellery

Over 20 million pieces of fine jewellery and precious stones* have been lost in the past five years throughout the UK, according to new research1 from Direct Line’s SELECT Premier Insurance (SELECT).

The average person who has mislaid precious stones and jewellery items has lost £682 worth over the past five years, amounting to a staggering £9 billion in total. 

The most commonly misplaced items are gold rings, with one in 10 (nine per cent) people having lost one in the last five years – equal to 4.5 million lost gold rings. Gold earrings and chains are the next most commonly misplaced items, with around 3.1 million and 2.2 million missing pieces, respectively. 

Proving that diamonds aren’t always forever, the next most commonly misplaced items are loose diamonds from diamond rings, with over 1.7 million of these cherished stones lost somewhere in the UK.

Table one: Misplaced items of fine jewellery and precious stones
 

Most commonly misplaced items of fine jewellery and precious stones against estimated number of items lost in the past five years*


Gold ring                                                                                        4,513,081   
Gold earring(s)                                                                             3,109,011   
Gold chain                                                                                     2,156,250   
Diamond from a ring                                                                   1,679,869   
Gold bracelet                                                                               1,579,578   
Diamond ring                                                                                 1,404,070   
Other precious stone from a ring(e.g.Ruby or Sapphire) 1,178,416   
Diamond earring(s)                                                                      1,078,125   
Semi-precious stone from a ring (e.g. Topaz or Kunzite)  902,616   
All other lost jewellery and precious stone items              2,883,357   

*Assuming each person only lost one item

Jewellery lovers would be wise to keep their eyes peeled as almost a third (30 per cent) of the 20.5 million jewellery items that have been mislaid in the last five years were lost in the street2. Around a quarter (26 per cent) of these precious pieces were misplaced in the home, nine per cent at work and a further nine per cent in restaurants and bars. 

Flushing away an estimated 800 thousand pieces of jewellery, a further six per cent of items have even been lost in the bathroom. 

Not surprisingly, women are the most likely to misplace jewellery, with 31 per cent doing so in the past five years compared to 22 per cent of men. 

With so many pieces being mislaid, it begs the question as to where these end up. In the past couple of years around eight per cent of people have been lucky enough to find a piece of fine jewellery or a precious stone, but this accounts for only a fraction of all lost items. 

Louise Lumley, head of SELECT Premier Insurance, says: “Despite often having great monetary and sentimental value, we misplace an astonishing amount of fine jewellery items and precious stones in the UK. Gold items, which are the most frequently lost pieces, can be particularly expensive to replace as the cost of gold has risen substantially in recent years. 


“Losing a piece of jewellery can be very distressing because the combination of sentimental and financial value makes replacing these items very difficult. However, accidents do happen, which is why it’s vital to not only have an insurance policy that covers these items, but also to regularly have them valued as fluctuations in gold and other precious metal prices mean this is likely to change. Many insurance policies limit the amount of jewellery covered outside the home and the amount any single items are covered for, so it's always worth checking that your most valuable items are fully insured so that your insurer can help you if the worst should happen."

ENDS

For further information please contact:

Claire Foster 
Direct Line
020 8285 8682 
07900 217 264 
claire.foster@directlinegroup.co.uk 

Katie Pugh
Citigate Dewe Rogerson
0207 282 2914
Katie.Pugh@citigatedr.co.uk

Notes to editors

 Study conducted by Opinium Research 10th – 13th May 2013 amongst 2009 UK adults. Results have been extrapolated up based on applying the percentage of UK adults in the nationally representative survey to the number of people in the UK (50,371,000) according to the ONS. 

2 Respondents were asked whether they had lost items of jewellery or precious stones in the past five years. An assumption has been made that each person has only lost one of each item. The phrases ‘number of people who lost items’ and ‘number of items lost’ have therefore been used interchangeably when referring to individual items and when referring to where items were lost. 


For the total of 20,484,374 lost items, the percentage of UK adults who had lost each item was used to calculate an equivalent figure in the UK population. These figures were then added together to produce the total number of items lost. Respondents were able to select more than one answer and each answer has been treated as a separate item.

About SELECT Premier Insurance

Direct Line offers SELECT Premier Insurance to cover homes, cars and valuables of high worth, as well as breakdown cover, pet and travel insurance, all covered under just one policy. When taking out SELECT Premier Insurance, Direct Line will even pay your cancellation charges from your previous policy, making it even easier and affordable to have all your policies under one roof, with one payment plan and one renewal date.

At SELECT Premier Insurance we help you stay in control by offering you a truly personal service. To begin with, one of our accredited insurance advisors will carry out a complimentary individual telephone review with you. Then they’ll give you tailored advice, based on your unique needs, for example, specialist cover for valuables such as fine art and jewellery (without needing to list individual items worth less than £10,000) or for your property portfolio, to ensure you get exactly the right level of cover.

To find out more about what Direct Line SELECT Premier can offer, go to www.directline.com/select or go straight through to an expert, not a machine, on 0800 206 2849 

Direct Line

Started in 1985, Direct Line became the first UK insurance company to use the telephone as its main channel of communication. It provides motor, home, travel and pet insurance cover direct to customers by phone or on-line. 

Direct Line general insurance policies are underwritten by U K Insurance Limited, Registered office: The Wharf, Neville Street, Leeds LS1 4AZ. Registered in England No 1179980. U K Insurance Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. 

Direct Line and UK Insurance limited are both part of Direct Line Insurance Group plc.

Customers can find out more about Direct Line products or get a quote by calling 0845 246 3761 or visiting www.directline.com