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Ensure your contents cover is up to date in the New Year

10 January 2023

Ensure your contents cover is up to date in the New Year

The Christmas and holiday season sees an increase in our spending, as we purchase new products to exchange gifts with loved ones, but as a new year begins it is important to ensure those gifts you received are covered by checking, and if needed, updating  your contents cover in the New Year.

Here are three tips to ensure your new possessions are covered:

 

1. Know the value

Christmas, as well as other special occasions (weddings, birthdays), sees an influx of new possessions into your home, often including everything from jewellery and watches, to artwork and other expensive items.

The value of your possessions is used to calculate your home contents cover, so if you receive gifts that increase the value of your possessions this can affect your insurance cover.

The good news is many high value home insurers do include cover for gifts, new purchases and acquisitions during the seasonal period, however you many need to inform them and update your cover to ensure they are covered going forward.

 

2. Check your policy

Once you know the value of your additional items, it’s a good idea to check your policy documents or speak to your insurer or broker to check if you have this temporary cover.

If you do, you’ll need to make a note of when the temporary cover ends to increase your sums insured if required. If not, or if you need to increase the value of cover for your home contents straight away, then it’s important to contact your insurer or broker as soon as you know the value.

If you have received expensive gifts, such as jewellery, then this is especially important as these may cost more to replace than the single item limit (the maximum amount you will receive for a single insured item if you need to make a claim) on your policy. If you are not sure what your single item limit is, please check your policy documents with your insurer or broker.

If you’d like to discuss your cover with us, please contact your Client Manager or email us at: allcis@classicinsuranceservices.com

 

3. Know if your new contents are covered away from home

We often take these expensive items when we travel, whether it’s jewellery or gadgets, so it’s good to have peace of mind that these are also covered when you’re away from home.

The good news is all policies arranged by Classic Insurance Services automatically insure all the contents worldwide. This means that the policy will cover any loss or damage to the contents wherever you are in the world.

 

Get a Quote Today

To find out more about our household and contents insurance or to get a quote, please speak to our Household Team today.

Call 07837 704 711 or email gareth.stanley@classicinsuranceservices.com

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