New electronics purchases 'need insuring'
Personal insurance
29th January 2010
With a raft of electronics items and high-end goods proving popular with shoppers this Christmas, recipients are being advised by Giles Insurance Brokers Ltd to make sure that they are fully insured against loss, damage or theft of gifts.
Leading gifts for Christmas 2009 included lightweight netbooks, the Nintendo Wii smartphones, portable camcorders and high definition electronics such as televisions and media players.
Additionally, there will be many new purchases made during 2010, many of which should be listed separately on home contents policies in case of loss, theft and damage. These are likely to include the Apple iPhone and iPod Touch, tablet PCs, Amazon's Kindle, 4G mobile phones, upgraded Nintendo DS and Sony PSP, colour e-readers, hydrogen-powered phones, the Microsoft Xbox and the Canova dual touch screen laptop.
Retail figures for Christmas 2009 published by the British Retail Consortium (BRC) were described as "stronger than we dared hope". The organisation's Retail Sales Monitor - published with KPMG - indicated that sales rose by 4.2 per cent on a like-for-like basis in December compared with the same month of 2008. Additionally, Experian recently reported that the number of people attending the Boxing Day sales rose by 18.6 per cent year-on-year last month to around 12 million shoppers.
With purchases rising over the festive period, it is likely that the value of items in many homes is now much higher than it was previously and Giles Insurance Brokers Ltd is suggesting that consumers check their policies carefully to ensure that items are not accidentally being left unprotected and they have the right cover to suit their needs. A host of new electronic gadgets are due for release this year and it is important to ensure that they are properly insured by purchasers.
Households can guard their possessions against theft and reduce their insurance premiums by implementing measures recently recommended by the Home Office such as putting items such as laptops, bank statements and car keys out of sight, ensuring doors and windows are locked, installing alarm systems and putting in security lighting to deter burglars.
A recent study by Nottingham Building Society warned that one in four UK households has no home and contents cover at all, while many other people are unaware of what they are actually insured for in case something happens to their property and belongings.
Susan Young, group personal lines director of Giles Insurance, advised: "In the current climate, with budgets tighter than ever, it is important that any significant purchases made are properly insured. Homeowners should be aware of exactly what their policies cover and how much they provide for each item to avoid being caught out when they make a claim.
"With large sums often spent on Christmas gifts, these should be added to home contents policies to guard against loss, theft or damage. In order to make the most of their resources, consumers can turn to an insurance broker to help them select exactly the level of cover they require at a competitive price."
Established in 1967, Giles Insurance has a dedicated personal lines team who can search the market on your behalf. It can source insurance for your motor, home (buildings and contents), travel and keys, as well as specialist policies for high-net-worth individuals. 
