It wasn’t too long ago we were celebrating the end of 2021 and Christmas when the urge to spend money on loved ones is at an all-time high.
The last quarter of the year often proves to be an economically fruitful one – businesses often thrive: commissions increase, and that’s not forgetting those year-end bonuses. When you’ve got a little extra brass in your pocket, you can’t help but spend it, be it on yourself or someone else!
With the atmosphere so merry and bright, many often forget about the associated risks of either losing or damaging these newly acquired or received items, especially those that might have cost you a pretty penny.
Here are some insurance tips to give your festive spoils a much-needed boost of protection:
- Ensure those high-tech accessories such as AirPods or Garmin Sports Watches are added to the All-Risk section of your policy for the replacement value of the item, so they are fully covered wherever you take them.
- Remember to have your children’s new iPads or laptops for school insured, so the devices are comprehensively covered when taken to and from school. If a device is replacing an older version, don’t forget to remove the old device from your policy to avoid paying unnecessary costs.
- It’s clear that today’s society is lost without their phones. Not only does a cellular phone keep people personally connected, but they have become critical business tools. As such, the value of cellphones has skyrocketed, and losing yours - especially a new one purchased over the festive period - is an unenviable situation to be in. Insure your device as soon as possible, or update your existing cell phone cover.
- Use this time to reassess and update your insurance inventory checklist. Add new valuables and remove old ones from your policy. This ensures that you’re paying for the cover you require and are not over or under-insured in various areas.
- Take this time as an opportunity to familiarise yourself with your current policy and corresponding excess amounts and all the necessary details.