Keep Your Eyes on the Prize

Keep Your Eyes on the Prize

Electronics, jewellery and hearing aids top New Zealand’s lost property claims

AA Insurance has revealed the personal items we lose most often. According to claims data between June 2010 and May 2011, eyewear (spectacles and sunglasses) accounted for 30 percent of accidental loss claims, followed by jewellery, hearing aids and mobile phones. AA Insurance estimates that accidental loss of personal items costs the New Zealand insurance industry $2.9 million in claims per year.

Items that were popular in 1987 when New Zealand first hosted the Rugby World Cup, such as Filofaxes, pocket calculators and Walkmans have been eclipsed by smaller, more complex and expensive technologies like smartphones, iPads and MP3 players. And as the value of our personal items increases, so does the average cost of a claim for accidental loss or theft. In 2008-2009, the average cost of an accidental loss claim was $1,083. In 2010-2011 that has risen to $1,380.

“We expect to see a rise in accidental loss claims as a result of the Rugby World Cup due to the number of people travelling to games and other events,” said Suzanne Wolton, Head of Corporate Affairs, AA Insurance. “Whether you’re touring the country or walking to the local bar to watch the event, people should only take with them what they need. A mobile phone can be easily replaced but any data stored on the device, such as personal information and banking details, could fall into the wrong hands if you don’t look after your belongings.”

It’s not just fashion accessories or high-tech gadgets that people are prone to misplacing though. Personal health items such as hearing aids and dentures are also high on the list of items most likely to be claimed for. Surprisingly, the average claim for a lost hearing aid is $4,194, almost five times the amount for the average claim of a camera ($805).

Top Accidental Loss Claims (Source AA Insurance – June 2010 to May 2011)

1. Eyewear
2.
3. Jewellery
4.
5. Hearing aids
6.
7. Mobile phones
8.
9. Electrical goods (MP3 players, headphones)
10.
11. Personal items (items from more than one category)
12.
13. Dentures
14.
15. Cameras (including accessories)
16.
17. Laptops
18.
19. Frozen foods
20.
Hide it, lock it or risk losing it

“As people enjoy the tournament and celebratory events around it, we’ll see a higher volume of cars left unattended on side streets and in car parks,” continued Suzanne. “It’s important to be extra vigilant and remove any items on display such as car stereo faceplates, cash, CDs, bags and sunglasses, as these attract unwanted attention.”

AA Insurance claims data revealed that the most popular items stolen from vehicles are electrical goods, eyewear, laptops and tools. In 2008-2009 the average cost of a theft from a motor vehicle claim was $1,649. In 2010-2011 that had risen to $1,850.

In the 2010 AA Insurance Drivers Index, a poll of 3,500 Kiwi drivers, 28.2 percent had their vehicles broken into in a public car park. That figure has risen to 34 percent in 2011. The majority of AA Insurance customers realise their car has been broken into the morning after, which suggests break-ins occur late at night or early in the morning.

Based on theft incidence claims, Aucklanders are 49 times more likely to make a claim than those in Nelson, Marlborough and the West Coast. “This could be because people in densely populated areas spend a lot more time in their vehicles than they used to, compared to people outside metropolitan areas,” added Suzanne. “Whether you’re sitting in rush hour traffic for an hour on the way to work, or picking up the kids from school and taking them to after-school activities, we need a lot more items for the journey.”

ENDS

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