Three Things To Remember About Insurance In The Run Up To Christmas


With the festive season fast approaching, thinking about insurance is one of the last things we want to be doing. However, if disaster should befall your household this Christmas you should at least be covered for the financial hardship. This means checking your policies and keeping abreast of the latest insurance news to ensure you are prepared for any financial storm which might blow our way.

What to consider?
There are three very important aspects of insurance to consider this Christmas.

1. Home insurance: does your current home and contents policy cover the extra valuables you intend to purchase and cover any outside decorations?

2. Pet insurance: if you are buying pets this Christmas, are they covered?

3. Health insurance: what coverage should you have if you are organising/attending public events?

Home insurance
Most insurers extend their home and contents cover by 10% in December to cover the extra valuables that are likely to be purchased as a result of the festive season. This is typically authorised without an additional charge but is not guaranteed by all providers. It is important to check exactly what contents you are covered for. Even if you do have extra coverage, be sure to calculate the extent of this.

For example, a regular home and contents cover policy may cover up to £10,000 of damages. This means you may be covered for up to £1000 of extra content for Christmas gifts. If you plan to secure more than £1000 worth of gifts in your home, you may not be covered if all of them are stolen or damaged and should consider investing in additional cover.

Standard home and contents policies vary when it comes to outdoor contents such as garden contents or Christmas lighting. It is possible that certain policies may not cover you for the loss of, or accidents caused by these decorations. Once again, it is important to check your policy for the exact extent of coverage before hanging decorations outside.

Pet insurance
If you receive a pet for Christmas, be sure to insure the animal immediately. Many pet owners forget to insure new pets and if the animal becomes ill or is injured, the vet bills can be very expensive. Pet insurance can be relatively cheap and can save you a lot of money in the long run if something untoward happens.

Health insurance
Attending public events at Christmas are fun for the whole family but it can turn into a nightmare if you are injured as result of the festivities. This is why it is important to have the correct insurance policy for full accident coverage in public. Some general health insurance policies may not cover you for liability during public festive events. If this case, it is vital to ensure you seek appropriate cover whilst businesses must have appropriate liability insurance in place to protect against damages. If you intend to host your own festive event then it may be worth you considering this option too.
This is a guest post provided by Lloyds of London. A leading expert in the insurance industry, they offer the latest insurance news and plenty of advice to those looking to operate within this field.

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