Irish households have an average of €4,243 worth of jewellery in their homes, new consumer research carried out by insurance broker Gallagher shows.
The figures shows that urban households across Ireland hold jewellery worth €4,591 on average, while the estimated value of jewellery in rural homes is €3,425.
The research noted that 9% of households own jewellery worth more than €10,000.
It also reveals that 70% of Irish people have never had their jewellery professionally valued, which Gallagher said leaves people particularly financially vulnerable when it comes to insurance and possible claims.
Ben Redmond, Head of Private Clients for Gallagher in Ireland, said that most homes in Ireland have jewellery in some form – with the most common often being wedding rings and watches.
"We have seen some clients come to us with jewellery collections which are in some cases worth hundreds of thousands of euros, though of course this is not common. There have also been instances where people, who have little knowledge of jewellery, have substantially underestimated how much their items are worth," he said.
Gallagher says that findings from their survey show that many people overlook the importance of having their jewellery professionally valued, which can lead to issues if it is stolen or damaged.
There were 9,858 reported burglaries across the country in the year to the end of June 2024, according to the latest Recorded Crime Statistics from the Central Statistics Office.
Recent Garda figures show that jewellery and cash account for over 35% of the items stolen in burglaries, with thieves often targeting small, high-value items.
Gallagher recommends having jewellery valued at least every three years to ensure that it remains properly covered in the event of loss or theft.
Mr Redmond said that for anything worth €5,000 and above, he would always advise getting a professional valuation.
"Not only will a valuation provide you with documents to prove that you own the piece of jewellery in question, but it will also state the item's current value, which you can then pass on to your insurer," he said.
"In the event of a claim, the valuation is key to proving your loss. Without it, you could end up underinsured," he added.
