Make sure your contents are properly covered this Christmas!

Published ¤ 03/12/2010 13:49:12

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As Christmas draws closer, we are warning people to check that their contents insurance covers all the extras, such as Christmas presents.

Presents under the Christmas treeMike Powell, Insight Analyst for Defaqto, commented: "At this time of year many of us are buying presents for the festive season and perhaps keeping them at home while we wait for the family get together. These seasonal gifts for family and friends as well as gifts you receive yourself, all add up. High value items such as MP3 players, games consoles and designer jewellery can add hundreds of pounds to the value of your overall contents kept in the home. On top of that, the extra food that we purchase in the build-up to family meals and parties for friends means the value of the food kept in the freezer increases significantly over the festive period.
"It's worth checking the following policy features in your home contents insurance policy:
Automatic increase in contents sum insured

The majority (92%) of home contents policies provide an automatic increase in the level of your contents insurance for Christmas, but always check the timings that cover is effective from. For example, some policies provide cover for one month before and one month after Christmas, with other policies providing cover only for specific dates.
Special event increase

Many insurance policies give a 'special event increase' on their contents insurance but the details vary as below.

  • 57% of policies provide a percentage increase ranging from 5% up to 25% of the contents insurance limit.
  • 31% of policies provide an increase for a specified monetary amount with the range being from £1,000 up to £25,000.
  • 4% of policies provided an 'unlimited' sum insured and therefore any contents bought at Christmas are automatically covered."
It is essential that you have sufficient cover in place, as, not only does the value of the contents rise at this time of year, but homes are much more likely to experience a claim. Burglaries over the festive season increase dramatically, as do floods from burst pipes.
If you are unsure as to whether your policy is sufficient for your needs, call PKS today for a no obligation quote. We can offer all levels of buildings and contents insurance, including specialist insurance for high value requirements.

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