According to the National Retail Federation, consumers were expected to plunk down $18.2 billion last month on gifts for significant others, family members, friends, classmates, teachers, co-workers, and well — yes, pets. Almost one in five givers (18 percent) will buy jewelry, spending a grand $4.3 billion on sparkle, all told.
That's a lot of jewelry, and it's only a matter of time until a certain percentage of those pieces are damaged, lost or stolen, resulting in jewelry insurance claims.
The most common cause of loss?
Theft is one of the most common causes of loss for jewelry, representing four in 10 claims.
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