‘Insure’ your presents are wrapped up safe this Christmas
December and January provide rich pickings for burglars. In the weeks either side of Christmas, many homes are full of expensive Christmas gifts, presenting thieves with a golden opportunity.
It’s also the time of year when burst pipes and faulty wires can play havoc, with accidents causing damage to precious possessions.
That’s why MoneySuperMarket is urging consumers to check the small print of their home contents policy to ensure gifts and valuables are covered.
’Tis the season to be jolly careful…To guard against the risk of under-insurance – when cover provided by a policy is less than required to replace the items concerned – many insurers build in ‘seasonal uplift’ for the Christmas period at no extra charge.
Analysis from the comparison site reveals insurers have different approaches to applying free automatic uplifts to home contents cover over the Christmas period, so it’s important to check whether the cover provided by your insurer is enough to protect your gifts from damage or festive thieves.
Cover uplifts can vary significantly. For example, the AA automatically increases the value of contents cover by 20 per cent of the sum insured for 30 days before and 30 days after Christmas, while John Lewis’ Plus Cover has an increase of up to £7,500 one month before and after Christmas.
Kevin Pratt, home insurance expert atMoneySuperMarket, said: “With long dark nights and preparations being made for Christmas, this is a prime opportunity for thieves to target homes. So it’s important to find out exactly what you are covered for to ensure your gifts and presents are protected.
“The festive season is also a time of year where the risk of burst pipes from the cold weather, faulty wiring on tree lights or the use of decorative candles could lead to accidents that ruin presents and belongings, so content cover uplifts could be crucial if you needed to make a claim to replace damaged items.
“It’s vital that the cover you have in place is at the right level or you could risk being underinsured. This wouldn’t just mean that you couldn’t claim for the new gifts you’ve purchased but could impact all the items within your home. For example, if you have £60,000 worth of contents in your home but are only insured for £40,000, your insurer could only pay two thirds of a claim, even if it is for less than £40,000.
“This is often referred to as the ‘condition of average’ clause.
“Another thing to be aware of is that high value possessions may need to be itemised and listed on a policy as insurers often have limits, typically of £1,500, where they won’t pay out a higher amount on claims for those individual items if they aren’t specified in your policy.
"It only takes a few minutes to check with your insurer whether your policy has an automatic uplift. If it doesn’t, it could well be necessary to increase your cover.
“But even if a seasonal uplift is applied, it is only temporary. So if the gifts you and your loved ones receive are likely to take you above your contents insurance limit, you should make it a priority to adjust your policy to avoid starting the New Year with an underinsurance hangover."
MoneySupermarket’s top tips to avoid accidental damage and theft in your home
Lock all windows and doors before leaving the house
Keep all items of value away from windows and out of sight
Regularly check the state of your locks, and where necessary replace older, weaker ones with new locks. Five-lever mortise locks are recommended for external doors while windows should ideally have two bolt locks
Install a good home security system
When leaving the house for a lengthy period of time, put a timer on your light switches and curtains to give the impression that you are at home. If you are away, remember to cancel newspaper and milk deliveries and ask someone to keep your letterbox free of leaflets
Don't leave keys in obvious places such as under a doormat. Also beware of 'hook n crook' thefts - where keys are left so close to a door that a burglar can simply hook them through a letterbox and open the door or drive off in the car
Install security lighting - illuminate your visitors for their safety as well as your own. Unwelcome visitors are less likely to loiter if they're 'in the spotlight'
Keep the heating on at a low temperature when you’re out of the house for a prolonged period, to prevent pipes from freezing.
Be sure you know where your stopcock is in the event of a burst pipe.
Don’t leave candles unattended