At this time of year the latest digital cameras, iPods, TVs, laptops, Play stations and jewellery are all at top of the post Christmas thief's wish list.
Not only are they at risk of being stolen but they are also liable to accidental damage. By remembering to review your home contents insurance and check whether you have cover for accidental damage could save you more that a few pounds if disaster strikes.
Many policy holders assume that their home contents insurance will automatically cover any new valuable items. However making such an assumption could leave you underinsured and costing you more than you had bargained for in the event of a claim.
To avoid being caught out it pays to regularly review and update the value of your home contents, rather than face disappointment in the event of a claim later on. Remember to take in to account all you new Christmas acquisitions. While your home insurer may have increased the level of cover over Christmas this is only for a limited period only.
Insurers will usually have a limit on the value of a single item them will insure. Typically this is £1,500 but can be as low as £600. The limits do vary enormously from insurer to insurer so if you have high value items seek advice on what you should do.
It is usually worth insuring expensive, valuable, easy to lose or damage items separately (laptops, cameras, handheld devices) and some insurers actually require you to do this. That way if you make a claim, your no-claims status on your overall home contents insurance is not affected.
If you are taking portable gadgets out of the home and want to know they are insured wherever you are, make sure that you have opted for personal possessions or 'all risk' cover on your existing policy.
Security check
Make sure that you have adequate security measures in place to protect your home from the unwanted burglar. Home insurers will usually require the following:
- Five-lever mortice lock on external doors
- Key operated locks fitted to ground floor and all accessible windows
- That the property is not left unoccupied for over 30 days
If you are out and about keep a close eye on your belongings, don't leave your bags unattended and watch out for pick pockets who have spied you using your new device...
It is better to be safe and double check your insurance terms and conditions than to end up out of pocket this New Year.
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