New year offers new insurance opportunity

Posted : 22-12-2005

Once the festive period passes, many people should look into updating their insurance policies, it has been claimed.

Cornhill Direct is advising homeowners to check their policies once the Christmas celebrations have passed and the decorations are down, to ensure that they have adequate cover for the year ahead.

Many large and expensive presents are bought for loved ones over Christmas and as such it can be crucial to update home insurance details so that those treasured gifts are covered should they be lost, stolen or damaged during 2006.

While it has been advised that many people should consider reviewing their home insurance policies in the run-up to Christmas, when people often store presents that will be given away on the day itself, Cornhill points out that a longer-term assessment is required in the new year because of the presents that will be received.

"Over time, people can lose track of just how much the value of the contents in their home has increased so perhaps a 'must do' in the New Year is to check with their insurers that they are adequately covered," explained Cornhill Direct's operational underwriting manager, Ian Firth.

He added: "It has been calculated that Britons will spend £14.7 billion on presents this year which means that the value of additional goods we receive at Christmas averages out at around £600 per household."


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