Sainsbury’s Home Insurance predicts spike in post-Christmas claims
Published: 31 December 2009 By MoneyHighStreet Staff Leave a Comment
Sainsbury’s Home Insurance is predicting a spike in home insurance claims this coming New Year as homeowners look to cover the cost of damage done during the festive period.
Sainsbury made the prediction based on its previous records in the first week of January 2009 when the number of claims handled by Sainsbury’s jumped 37 percent compared during a typical week. The bank estimates that the first week of January 2010 could see over £25.4 million worth of home insurance claims across the UK.
Ben Tyte, Sainsbury’s Home Insurance Manager, said, “In these challenging economic times, opportunist thieves could well be on the look out for unattended homes over the festive period, while large numbers of Christmas visitors could increase your chances of accidental damage, so the chances of having to make a yuletide claim increase dramatically. Even having the fridge and freezer very well stocked could lead to a considerable claim if there was a power cut.”
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Tyte said Sainsbury has issued an advisory to its customers leading up to Christmas to always check their home insurance policies to ensure they’ are automatically given extra Christmas cover.
According to the bank estimates, many homeowners are more likely to make costly claims in December, due to the increased value of home contents with presents as well as costly food and drink being stored for Christmas Day, Boxing Day and New Year.
In December 2008, the average home insurance claim, at just over £1,260, was 16 percent higher in December than during the rest of the year. Sainsbury’s Home Insurance offers a 10 percent automatic seasonal increase in cover for the festive period.