UK Money News

Money News

29th November 2007

Festive big spenders 'should consider their insurance'

Consumers expecting to revel in Christmas to the full extent this year should bear in mind the impact that high-end gifts can have on the value of their home, it has been suggested.

Personal finance provider NFU Mutual has stated that around one in five people will spend in excess of £500 on gifts this year - meaning that the value of property in the average home is likely to rise significantly.

Should an unfortunate accident or theft occur, such consumers could experience a personal finance disaster unless they are appropriately covered, the firm states.

Laura Wood, spokesperson for the insurer, remarks: "People do not consider the cumulative value of the gifts which they store or bring into their home during the festive season and it is vital that they remember that the value of these presents will impact on their home contents insurance."

In related money news, Abbey recently released research suggesting that Scottish consumers were the most expansive spenders at Christmas time compared to buyers in the rest of the UK.

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