The importance of high value item insurance at Christmas

Christmas is almost upon us, but just how prepared are we all really? Well, there’s a good chance that we’ve all made a great start on buying presents and there’s no doubt that we’ll already have our plans for food. Where we all seem to come unstuck is when it comes to insurance.

The festive period is supposed to be full of fun, so the importance of high value item insurance at Christmas may well be the last thing on your mind. However, if this is something that you usually ignore, there’s a good chance that you may regret it later. Let’s explore some of the reasons why this matters so much.

Crime rates climb in the run-up to Christmas

It’s perhaps not something that anyone wants to consider but the reality is that Christmas sees criminals getting extra busy. The importance of high value item insurance at Christmas is the fact that these criminals are doing their own shopping and this usually involves breaking into a house.

If you’re buying expensive jewellery, artwork or other high value items this Christmas, you can be sure that these are things that burglars would love to get their hands on. Yes, there are security measures that can be taken to lessen the risk, but the right insurance policy has you covered should the worst happen.

You can be safe knowing that many high value items can get covered

The importance of high value item insurance at Christmas can be seen by taking a look at a standard insurance policy. Where does your current policy stand in terms of that new piece of jewellery? How about that new piece of technology that has just cost many thousands of pounds? The reality is that many standard policies will leave you vulnerable.

With high value insurance, you can be sure that your high-value items are all covered. It could be that you’ve got presents stored in your house, ready to give out on the day, or you may be the lucky recipient of a very special gift. Either way, it’s great to have the confidence provided by knowing that you’re covered.

Claim for lost and damaged goods

We’ve already taken a look at how high value item insurance comes into play if your items are stolen. However, it may bring peace of mind to know that you’re also covered for items that become lost or damaged.

No one likes to think that it’ll be them that drops that expensive vase. No one wants to consider that the likes of house fires are a reality. However, it’s when these types of events happen that people wish that they’d had the appropriate insurance in place.

Worldwide cover

The right insurance policy will cover your personal possessions. This could include the times that you’re wearing an expensive item of jewellery. When looking at the importance of high value item insurance at Christmas it’s important to remember that many families make a trip overseas. This may be to visit friends and family or it may simply be to allow them to get away from it all.

If you’re wearing a ring or a necklace that’s worth a substantial amount of money, wouldn’t it bring you comfort to know that you’re covered? Wouldn’t it give you peace of mind to know that, regardless of where in the world you are, you’re still protected by your policy?

The need to cover all items

High value item insurance comes into play when you have a certain combined value of household items that exceed a certain level or when you have individual pieces that are of high value. Whatever insurance you have in place, it’s vital to check that your policy includes all of the items that you have.

It would be devastating to think that you have cover in place only to have a claim rejected because a certain, valuable item, wasn’t covered.

Top up coverage

The importance of high-value insurance at Christmas can be seen when you add up the value of the Christmas gifts in your home. Whether these are gifts that you’ve received or gifts that you’re due to deliver, there’s a good chance that they’ve boosted the overall value of items in your house.

When this is the case, it could easily be the case that your standard insurance policy will no longer suffice. You will need to take steps to increase the coverage that you have or turn to a specialist provider for help.

Checking that all potential risks are covered

Not all insurance policies are created equal. There are some that may just cover theft. Others may well include damage but there may be strict limitations to this in terms of how the damage is caused. Again, this is something that you need to confirm by checking the policy that you currently have in place.

Are you covered for damage from flood and/or fire? Does your cover take into account accidental damage? With high-value items, it’s simply not worth taking the risk and only discovering after the fact that your policy doesn’t suffice.

What exactly is covered by your policy?

The importance of high-value item insurance at Christmas can be highlighted by checking your current policy. What is the maximum amount that is covered in terms of all of your possessions combined? What are the limits placed on individual items? If you’ve come into possession of a new, expensive, item, there’s a good chance that it won’t be covered by your standard provider.

Final thoughts

Of course, high-value item insurance is for life, not just for Christmas. However, this time of the year is the perfect opportunity to reflect upon the value of items that are actually in our homes and to question if our current cover is still adequate.

If you’ve realised that this isn’t the case, why not get in touch and allow us to help you to get the cover that you really need?