There’s no place like home this New Year’s Eve

The UK is set to shun bars and clubs this New Year’s Eve with almost two thirds of the population (63 per cent) preferring to spend the night in with friends and family, reveals the fourth Post Office Home Insurance New Year survey.

After a year of tightening credit and job insecurity, the majority of adults would rather see off the year without the traditional ‘big night out’. Instead, New Year’s Eve has become another victim of the credit crunch with eight in 10 adults (79 per cent) affected staying in this year because of money worries.

One in seven (14 per cent) people feel that the credit crunch has directly impacted their plans, of which an unfortunate one in 10 (10 per cent) are no longer in work after being made redundant.

With only one in eight adults (12 per cent) planning to go to a bar or club, venues could face further financial woes with less revellers going out this year. Those most willing to throw caution to the wind and splash their cash this New Year’s Eve are 18 to 24 year olds, with one in four (26 per cent) hitting bars, clubs and restaurants.

As many people feel the financial strain it seems family values are taking precedence over partying, with almost half (45 per cent) of people putting loved ones first when making their plans.

Emma Baunach, Post Office home insurance manager, said: “It’s no surprise that people are opting to stay in this New Year’s Eve. It’s been a tough year financially for many and the expense of going out, coupled with icy temperatures and transport chaos, make a night in with loved ones a very appealing option for seeing out 2008.”

“The half of the population who will be spending the night in front of their television or hosting a party at home should check that their home insurance covers against any party mishaps with accidental damage cover. Carpets and furniture can be easily ruined by red wine stains or cigarette burns. Unprotected homeowners could find that staying in on New Year’s Eve is more expensive than going out if they have to pay out afterwards.”

New customers can now claim £50 cashback when taking out a combined Post Office Buildings and Contents Insurance policy in branch until 31 March 2009.

For more details on what the Post Office has to offer for home insurance, visit postoffice.co.uk