Does Your Home Insurance Increase Coverage For Christmas?

Many home insurance policies automatically increase their coverage for Christmas, do you know though if yours does and what increase you get?

According to Defaqto, an independent financial research company, 90% of home contents insurance policies automatically increase their coverage limit for Christmas.

If you were burgled though, or had a domestic disaster do you know whether your home insurance cover provides for this additional cover and if so does it increase by

• a specified monetary amount – if so the range is usually from £1,000 up to £25,000 or
• a percentage increase in the overall contents limit – if so increase usually ranges from 5% up to 25%.

The duration of the increase can vary, often it’s for the 30 days before Christmas and the 30 days after.

Mike Powell, Defaqto’s general insurance analyst, said “Many home contents insurers have responded to their customers’ needs by increasing coverage limits for specific events or religious occasions.

This caters for the increase in the overall value of the property’s contents in the form of potentially expensive presents or gifts and helps protect people from the possibility of being underinsured.”

MoneyHighStreet comment: Do make sure you check the value of your increased contents and ensure your home insurance covers you adequately over the Christmas period. The cover offered really will vary between policies.

If you are concerned or know that you have high value items that are not covered by a standard policy you may need to consider a high net worth home insurance policy.

This will provide you with the same insurance as you would expect from a standard home insurance policy but will have enhanced benefits and will include any high value specialist items you have. The exact cover will be provided to meet your specific needs.