Product Promotion Network

Bank

Revealed: the home insurers offering a festive cover boost this Christmas

Christmas is a time for celebration – but if disaster struck, could you claim back presents or bottles of bubbly on your home insurance? Research by home insurer Privilege estimates that 545 million presents will be bought in the UK over Christmas, with the average household spending around GBP500. If these items are not detailed on your home insurance policy, will they be covered?

Which? reveals the providers who offer additional cover for your contents over the festive period.

Protecting your Christmas contents

Your home insurance[1] will provide protection for contents already specified on your policy. However, the purchase of festive goods over the Christmas period may cause the value of your home contents to increase.

Aside from presents, every day spending also jumps up over the holiday period. According to the Bank of England, a typical UK household spends over GBP2,000 each month. By contrast, in December households spend on average an extra GBP500, with the purchase of food increasing by 20%, alcohol by 30% and books by 80%

To provide coverage for presents and extra purchases, many – but not all – home insurance policies will temporarily increase the level of protection at Christmas. Out of 341 home contents insurance policies listed on Defaqto – an independent financial researcher – 86% of providers offered extra cover over the holidays, according to research by GoCompare. This additional protection can also apply to other religious holidays and special events such as weddings.

How much extra cover will I get?

The amount of additional temporary cover offered varies between providers and some do not offer extra protection at all.

Insurers spreading festive cheer include NFU Mutual – offering cover for claims up to GBP30,000 – as well as John Lewis and Sainsbury’s, which both offer a GBP7,500 increase in the sum of contents insured. The AA, meanwhile, offers a 20% increase in the sum of contents insured. But the additional cover over Christmas may not kick in automatically, so be sure to contact your provider to check.

Fixed sum increase

The following insurers offer a temporary fixed sum increase for claims over the festive period.

Insurer Amount of cover Time period NFU Mutual Cover for claims up to GBP30,000 30 days before and 30 days after Christmas John Lewis GBP7,500 increase in the sum of contents insured One month before and one month after Christmas Sainsbury’s GBP7,500 increase in the sum of contents insured The month of December Zurich GBP5,000 increase in the sum of contents insured One month before and one month after Christmas Halifax GBP3,000 increase in the sum of contents insured The month of December Aviva GBP3,000 increase in the sum of contents insured The month of December

Percentage increase cover

These insurers offer a temporary increase in the percentage of the sum of contents insured over the holidays.

Insurer Amount of cover Time period AA 20% increase in the sum of contents insured 30 days before and the 30 days after Christmas Esure 15% increase in the sum of contents insured 4 weeks before and 4 weeks after Christmas Legal & General 10% increase of the sum of contents insured One month before and one month after Christmas Churchill 10% increase of the sum of contents insured 30 days before and 30 days after Christmas. Direct Line 10% increase of the sum of contents insured 30 days before and 30 days after LV 10% increase of the sum of contents insured One month before and one month after Christmas MoreThan 10% increase of the sum of contents insured One month before and one month after Christmas NatWest 10% increase of the sum of contents insured 30 days before and 30 days after Post Office 10% increase of the sum of contents insured One month before and one month after Christmas Privilege 10% increase of the sum of contents insured 30 days before and 30 days after The Co-operative 10% increase of the sum of contents insured 30 days before and 30 days after Castle Cover 10% increase of the sum of contents insured One month before and one month after Christmas Age UK 10% increase of the sum of contents insured The month of December Rias 10% increase of the sum of contents insured The month of December Saga 10% increase of the sum of contents insured The month of December

Specified claim limit

These providers offer a temporary increase over the festive period for a sum that is specified in each household’s policy.

Insurer Amount of cover Time period AXA Specified claim limit 30 days before and 30 days after Christmas Insure4Retirement Specified claim limit One month before and one month after Christmas Nationwide Specified claim limit 30 days before and 30 days after Christmas Swiftcover Specified claim limit 30 days before and 30 days after Christmas Lloyds Bank Specified claim limit The month of December Tesco Bank Specified claim limit The month of December

No festive cover boost

Barclays, M&S and Santander do not provide additional cover during the festive period.

But they do offer policies which allow households to claim an unlimited sum at any point during the year.

Ark Insurance, Instasure and Neos also do not increase cover during the Christmas period.

References

  1. ^ home insurance (www.which.co.uk)

MATCH WEIGHT EVO – 3 IN 1 Digital Fishing Electronic Weighing Scales In Retail Packaging , Weigh Bar & Torch – Weigh In lbs. Ounces & Kilograms – Top Reduction

Introducing the Ultimate Angling® 3 IN 1 Fishing Scale Weighing Bar With Flashlight

The Ultimate Angling® 3 IN 1 Fishing Scale is a unique mix of fishing scale, weighing bar and 8 LED flashlight.

Why Should You Buy The Ultimate Angling 3 in 1 Over Other Fishing Scales ?✔ Our Scales Are Dedicated Fishing Scales Not Luggage Scales ✔ Produced Under Licence For Us To Maintain Quality Unlike Cheaper Chinese Scales. ✔ The Only 3 IN 1 Fishing Scale In The UK

Make Fishing Simple !We go fishing to relieve stress not to generate more. Buy fishing tackle to make your life easier.

What To Do Next Time You Go Fishing – Once You Have the Fish Netted, Shine the Flashlight In Its Mouth To See Where To De Hook It. – Put The Fish In Your Sing Or Weighing Container. – Lift With Ease With The Excellent Design Of The Weigh Bar. – Once The Weight Is Stable The Scale Will Save The Weight

Its Really That Simple !We are so certain that you’ll be overjoyed with this product , and you will get results from using it, that you will love it in fact.

That we are now offering a FREE 365 day guarantee with every purchase ! If it breaks within 12 months of your purchase simply contact us and we will replace it for FREE !!

Not only this we offer 30 day cooling off period so if you change your mind within 30 days of purchase.

Simply return it to us, as long as its the same as when you purchased we will issue a full refund no questions asked.

Get Yours Now Go To The Top Of Then Page And Hit Add To Basket

  • ✔ SAY GOODBYE TO FISHING SCALES THAT CRUSH YOUR HANDS – Two-handed grip allows for easily measuring a sling up to 110 Lbs, with 0.01lbs. precision
  • ✔ USER FRIENDLY, DAY & NIGHT – Use the attached LED torch to find crucial items hidden in your tackle box or on the bank.
  • ✔ WEIGHT IQ TECHNOLOGY – The Backlit LCD screen with Data Lock, Tare Function and Overload Indication instantly measures in lbs./Oz./kg./gr. with unparalleled precision.
  • ✔ BUILT TO LAST- Durable and lighter than your phone, the compact size conveniently fits in your tackle box.
  • ✔ FREE 12 MONTH WARRANTY – We are so confident in the quality of our products that we are now offering a FREE no questions asked warranty for the first 12 months. If It breaks simply return it to us and get a brand new item sent out the next working day.

Bumper Bargains: Sale Category

Ask an Expert: are prepaid cards the best option for spending overseas?

Each week, the Which? Money experts answer your financial queries. You can submit your questions to money-letters@which.co.uk[1], or via our Facebook[2] or Twitter[3] pages.

Q: I’ll be going on holiday soon and would like to know the best ways to spend while I’m abroad. I’ve used prepaid currency cards in the past, but have found that they’re not always practical as I wasn’t able to use them everywhere. For example, several petrol stations refused to accept them.

Submitted via Which? Money Magazine[4]. A: Many of us look forward to visiting loved ones or escaping the cold this Christmas – but working out how to manage day-to-day expenses abroad can be challenging.

Unexpected circumstances often pop up when travelling, so make sure you have a range of payment options – including a small amount of cash, as well as a credit or prepaid card. Which? explains the best way to manage your money when planning a trip, including prepaid, credit cards and debit cards, as well as buying currency.

Prepaid cards for spending abroad

Prepaid cards are a popular option for travellers.

You can choose how much to load onto your card in advance, which may help you reign in your spending, and the fees are often lower than using a debit or credit card. If you’re planning to spend euros or dollars, some prepaid cards[5] allow you to load up on that currency before you leave. This ‘locks in’ the exchange rate, so you know how much you’re likely to spend and don’t get any unpleasant surprises.

Most of these cards charge a fixed ATM fee, though some will charge you a percentage of your withdrawal. Alternatively, you can take out a ‘sterling prepaid card’,[6] which allow you to pre-load pounds. This means the exchange rate will be decided at the moment when you make a withdrawal – which could be good or bad news, depending on how the pound performs.

The market-leaders for sterling prepaid cards[7] are Monzo and Revolut. Revolut offers free withdrawals of up to GBP200 per month, then charges 2% on each transaction. Monzo currently offers free withdrawals, but plans to start charging in the new year.

Best credit cards for overseas

When using a credit card overseas, it’s important to watch for hidden charges.

Some of the most common include:

  • A foreign loading fee of up to 2.99% every time the card is used
  • Interest charges incurred from the moment the card is used, even if the balance is fully paid off
  • A cash withdrawal of around 3% when you use an ATM abroad.

You may also lose track of how much you owe, as the exchange rate tends to change from day-to-day. But some credit cards don’t charge for foreign usage – which could be an advantage for frequent travellers. Which? rates the best credit cards for foreign usage[8] here.

Using a debit card

Of all your ‘plastic’ options, a debit card[9] is likely to be the most expensive.

Like credit cards, there are a number of unexpected charges which could add up during a week away, including:

  • A foreign exchange fee of up around 2.75%-2.99%
  • A cash withdrawal charge of around 2%
  • A ‘penalty fee’, which some debit card providers levy on every transaction

If you have to use your debit card, consider making a single large withdrawal at the start of your holiday, rather than using it over-the-counter. But the percentage fees on a larger transaction may be hefty, so work out the likely fees beforehand. It’s also wise to tell your debit card provider that you’re planning to be overseas, to avoid having your card blocked for ‘unusual activity.’

If you do want to use a debit card, Starling Bank charges no fees for overseas transactions worldwide, while Metro Bank charges no fees in Europe – and a number of other providers offer reasonable deals.

Buying foreign currency

Regardless of how many cards you have with you, always carry a bit of cash. Card payments are not accepted on transport or in retailers and restaurants in many countries – including some that may surprise you. It’s also handy to have a cash reserve in case your card is stolen, goes missing or gets blocked by your bank.

When buying travel money,[10] it’s important to shop around for the best deal. Tourist hotspots – especially airports – are often likely to offer the worst exchange rates. Often currency dealers will allow you to haggle, so don’t be afraid to push back on a low offer.

A number of services allow you to buy currency online[11] before you travel. Often they offer good rates and the convenience of picking up your cash at the airport. But these services aren’t regulated by the FCA – so if they go bust, you may not get your money back and there are less safeguards against fraud.

Which? Limited is an Introducer Appointed Representative of Which? Financial Services Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 527029).

Which? Mortgage Advisers and Which? Money Compare are trading names of Which?

Financial Services Limited.

References

  1. ^ money-letters@which.co.uk (www.which.co.uk)
  2. ^ Facebook (www.facebook.com)
  3. ^ Twitter (twitter.com)
  4. ^ Which?

    Money Magazine (try.which.co.uk)

  5. ^ prepaid cards (www.which.co.uk)
  6. ^ ‘sterling prepaid card’, (www.which.co.uk)
  7. ^ sterling prepaid cards (www.which.co.uk)
  8. ^ best credit cards for foreign usage (moneycompare.which.co.uk)
  9. ^ debit card (www.which.co.uk)
  10. ^ buying travel money, (www.which.co.uk)
  11. ^ buy currency online (www.which.co.uk)

1 2 3 137