VR insurance claims rise 31% as the metaverse becomes more popular

VR insurance claims rise 31% as the metaverse becomes more popular

The metaverse is upon us and it is already destroying people’s lives and property, leading to an increase in metaverse insurance claims.

The first commercially available virtual reality (VR) headsets were released back in 2010 with Oculus Rift, HTC Vive, and the PlayStation VR, and the technology has only become better since.

It has allowed for people to perform their music in VR venues, to showcase art installations, or experience their favourite pop cultural worlds in a whole new way.

Now, in the last year, there has been a lot of relatively empty hype around the metaverse and what it is going to be. I think the possibilities are endless.

Regardless, VR technology is accessible to more users which has seen an interesting, and kind of funny, upwards trend in insurance claims.

During an interview with the Guardian, insurance company Aviva said that there has been a 31% increase in VR/metaverse insurance claims in relation to damages sustained while immersed and a 68% increase since 2016 overall. It’s clear from the video above that this is a real issue.

In the interview, Aviva’s UK property claims director Kelly Whittington said “As new games and gadgets become popular, we often see this playing through in the claims made by our customers,”.

“In the past we’ve seen similar trends involving consoles with handsets, fitness games and even the likes of rogue fidget spinners.” Whittington told the Guardian.

Public VR experiences can sometimes result in bystanders being hurt
Image: VR fails / VR Fitness Insider

VR accessible is only going to increase as new, competitive models join the fray, and they become more affordable. Unless you’ve got a special, padded room to play in, it’s safe to assume that you’re going to be playing in a shared space.

Whether it is exploring the oceans depths, flying through space, or killing zombies, make sure you have plenty of room so that you don’t have to make your own metaverse insurance claim.