Home Insurance News

Halifax: Presents may necessitate home insurance revaluation - 17/12/2007

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Seasonal gifts may boost the value of home contents, necessitating a revaluation of home insurance policies, according to Halifax.

The home insurance provider asserts that consumers should be aware of the specific cover implications of this time of year, when the worth of items kept in the home can rocket as family and friends bestow expensive gifts upon each other.

"It's important to remember that the onus is on homeowners to have the correct insurance in place to cover your gifts from loss or damage, even if they are being stored away from your home," comments David Rochester, senior underwriter for Halifax Home Insurance.

Customers with Halifax are informed that the provider offers unlimited contents cover throughout the year - and while other providers may increase contents protection over Christmas, customers are warned that this extension may not last far into the new year.

Meanwhile, anyone planning to hide gifts with a friend or neighbour are informed that their contents may not be covered if stored away from their home - this is another element of home insurance policies that should be checked before seasonal festivities commence.

Previous research from Halifax Home Insurance found that 20 per cent of people do not intend to improve their home security over the Christmas period, with one-in-five planning to travel during the holiday season.

© Adfero

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