How Brooks Insurance Brokers can help you this Christmas

In summary

It’s the most wonderful time

Christmas, like other religious holidays and birthdays, is a time for exchanging gifts, buying new outfits and the all-important Christmas jumper; it’s a time for taking stock of the year that’s been and making New Year's resolutions for the year to come. Christmas shopping can quickly mount up, leaving you potentially underinsured for household contents and jewellery.

Whilst the time between Christmas and New Year is often spent eating cheese and asking what day it is, we’ve prepared our top five insurance tips to help you make the most of your down time for a little ‘life admin’.

Tip 1:

When did you last assess whether your Household Contents Sum Insured remains adequate? Whilst en route to the fridge for more cheese, consider a quick walk-through of your house and calculate the replacement cost for each room. You may have got a good deal on a ‘bank holiday‘ type offer, but how much would it cost to replace them without that offer in the (hopefully unlikely) event of a fire? We have a handy checklist available – contact us if you'd like a copy.

All That Glitters...

Tip 2:

For those with jewellery on their wish list, make sure you inform your insurer if you end up on the nice list and the jewellery arrives on Christmas Day, especially high-value items. Most policies we deal with have a temporary seasonal increase, covering your new purchases for a few days after the big day (check your policy for this, it’s different for each cover, it’s only a temporary fix and not to be solely relied on). Make sure you notify your insurance company about that new treasure as soon as possible.

Your wish list might include designer handbags or a new piece of jewellery, again make sure you tell your insurance company about these if you’d like them to be covered. We can insure these as part of your household policy or on a stand-alone cover if you prefer.

Tip 3:

We recommend having your jewellery revalued and the clasps and settings checked every three years. To ensure adequate coverage in the event of a claim, you’ll need to provide proof of ownership and the correct replacement value for insurance purposes, and a valuation is the best way of doing this.

At Brooks Insurance Brokers, we also recommend photographing your prized possessions alongside purchase receipts and provenance (proof of authenticity). As your insurance premium is calculated on the items you want to cover, it's crucial you tell your insurance company the right information to make sure you’re covered in the event of a claim.

Solid foundations

Tip 4:

For homeowners and property investors, it's your responsibility to keep your buildings sum insured up to date. While many insurance companies offer a maximum sum insured, index linking or a Day One uplift, don't rely solely on these. The sum insured is different to the purchase price. This is because along with the bricks and mortar, the purchase price includes things such as desirability of the area, the local amenities/schools/transport links etc. the sum insured needs to be the cost to rebuild your property in the event of a claim so it’s important to regularly check your sums insured to ensure they remain accurate. Insurance is there to minimise disruption and inconvenience in the event of a claim, and to do this, the sum insured must be adequate. You can obtain confirmation through an independent, up-to-date survey completed by a professional surveyor, or use the following approved website for guidance: https://calculator.bcis.co.uk/

Tip 5:

Maintenance is key! This applies to your policy schedule but also to your house too. Check gutters and drains are free from debris, if you have a flat roof, make sure it’s still fit-for-purpose, if you have an intruder alarm, consider getting it serviced. All these things can lead to claims and could be part of the information requested by your insurance company.

Above all…. Happy Christmas!

We ho-ho-hope you've found these tips useful. As all insurance policies differ in their cover and terms and conditions, this information is of a general nature. For detailed information, please read your policy. We're happy to help with any queries you may have and look forward to hearing about the Christmas presents you need to add to your policy schedule.