Jewelry claims bumped electronics out of the No. 1 ranking position in value and volume for property insurance claims made in 2011, according to new data.

The annual Contents Claims Index (CCI) by property insurance software and service provider Enservio found that the number of jewelry items claimed grew 57 percent compared to 15 percent growth in the electronics category for the same year. The average price per piece of jewelry claimed increased by 11 percent with jewelry claims more prevalent on the West Coast of the United States.

“Jewelry is a high-dollar item, very small and you don’t have to substantiate it when you lose it as long as it’s not scheduled,” said Keith Pequeno, SVP of market place and corporate marking with Enservio. “It’s a high-value, easy-to-claim item depending on an insurance policy. It’s also an item that is the most claimed and the least replaced. So this should lead to more scrutiny of these types of claims and the items they contain.”

Jewelry topped the list at 17 percent of replacement cost value (RCV) followed closely by electronics at 13 percent, according to the 2011 CCI. Apparel and furniture tied for the number three spot at 11 percent, followed by home goods at 9 percent.

“The economy is playing a part here as well,” Pequeno told Insurance Networking News. “People are hesitant about going out and splurging on the big screen TV. Even though we see the sticker prices on these big ticket items actually lowering, it seems that consumer confidence is still a bit stuck in neutral. We could see this shift as we look at next year’s index. Remember it may look like a decrease but it really is a 15-percent increase year over year.”

The full CCI list and each item’s RCV is as follows:

1. Jewelry – 17 percent

2. Electronics – 13 percent

3. Apparel – 11 percent

4. Furniture – 11 percent

5. Home goods – 9 percent

6. Tools – 4 percent

7. Appliances – 4 percent

8. Sporting goods – 3 percent

9. Books and magazines – 3 percent

10. Bed and mattress – 2 percent

Within the electronics category, TV, laptops and desktop computers have maintained their top ranking as the most claimed items year-over-year.

“Going into 2013, we know we will see similarities but we should also start to see newer subcategories rising like tablets, e-readers and smart phones being claimed,” Pequeno said.

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