Prepare for Christmas insurance risks
Personal insurance
4th December 2009
British homeowners are advised to check their cover early as the festive period can create a range of additional risks each year, according to Giles Insurance Brokers Ltd.
With many people going away over the break and leaving their homes unattended, it is more important than ever to ensure that a merry Christmas is had by all. This involves taking additional precautions - such as installing security lighting, moving expensive objects out of sight and making sure that locks and windows are secured - as well as arranging adequate insurance.
Giles Insurance recommends that policyholders check their cover before leaving the house to identify whether or not they are fully protected in the event of a break-in. With people potentially spending more than ever on gifts this Christmas, despite the current recession, there could be a rise in the value of items in UK homes.
Recent data from the Office for National Statistics indicated that retail sales strengthened in October, compared with September's totals, with most non-food sectors experiencing an monthly upturn. Commenting on the figures, economist Richard Lim of the British Retail Consortium suggested that "consumer confidence is rising" ahead of the festive period.
Most home contents policies automatically increase the amount of cover offered by a fixed amount to provide for festive purchases, but this does not apply to all insurance offerings and the level may not be enough if homeowners have been particularly generous to loved ones.
"Christmas and New Year can provide a wealth of opportunities for burglars and it is important to make sure that homes are fully secure to prevent any disappointment during the festive season," Susan Young, group personal lines director of Giles Insurance, explained.
"Additionally, homeowners should check their policies carefully if they are leaving homes unattended as the full value of gifts and items purchased in December may not be covered."
Statistics published by Norwich Union last year indicated burglaries could rise during the Christmas period as a result of the recession, which is still ongoing, while New Year's Eve was noted to be the most prolific night for such thefts, with many people out late or staying away to celebrate the event and the risk of a break-in rising by 25 per cent.
The figures showed that, although levels of crime tend to fall on Christmas Day and Boxing Day each year, the value of objects stolen in those crimes that do take place tends to be higher than usual, averaging around £1,600.
It is also important to check other insurance policies before the festive period, as inclement weather and dark evenings pose a greater risk of accidents for drivers, which can push up premiums unless precautions are taken such as protecting no claims bonuses.
Meanwhile, a recent poll by esure indicated that 50 per cent more Britons are planning to go on skiing or snowboarding breaks this season, with around 2.8 million people heading for the slopes from the UK. Travellers are advised to ensure that they have both the European Health Insurance Card and holiday insurance that makes provision for winter sports, as accidents and injuries potentially cost thousands of pounds.
As one of the UK's leading independent insurance brokers, Giles has access to some of the Britain's largest insurers and is able to search the market on behalf of clients to source the appropriate level of home, vehicle, holiday and winter sports insurance required.
