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Co-op Insurance urges Brits to check Christmas present policies

Research from the insurer revealed that almost one in five (18%) UK adults who celebrate Christmas will spend over £500 on gifts in their household and almost one in ten (9%) will spend over £750

Co-op Insurance is urging Brits to check their home and contents insurance policies as new YouGov data revealed that one in two (52%) UK adults who celebrate Christmas don’t know if expensive presents are covered under their current policy.

Research from the insurer revealed that almost one in five (18%) UK adults who celebrate Christmas will spend over £500 on gifts in their household and almost one in ten (9%) will spend over £750.

Co-op Insurance is also urging people to be “extra cautious” as it predicts a possible rise in thieves trying to steal parcels from under the Christmas tree this festive period.

Its own claims data shows that there was an almost 40% dip in the frequency of home theft claims during the five week festive period in 2020 (December and first week of January) compared with the same period in 2019.

To offer its customers and members extra protection, Co-op Insurance automatically increases its customer’s contents cover by 10% at Christmas time.

The sum insured on contents goes up 30 days before and 30 days after 25th December when the value of contents is increased due to gifts or purchases, to allow for additional valuables in the home.

Andrew Nevitt, head of home insurance, said: “It’s surprising to see that Brits are going to spend large sums of money this year on presents but aren’t always aware whether those gifts are covered by their home insurance should they get stolen or broken.

“Making sure that the correct home and contents cover is in place over the festive season will allow revellers to focus on the festivities with their family and friends instead of worrying that something may get stolen or broken.”

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