SPECIAL FEATURE: Time to review contents cover

With Black Friday and Cyber Monday kicking off the Christmas present buying frenzy, it was estimated that British shoppers spent £1m every three minutes – or £6,000 per second – snapping up the best discounts.

There was something to put into everyone’s stocking for the tech lovers and gadget geeks among us. LeapFrog Leap TV for the younger kids and Playstations for the older ones, activity wristbands for the fitness fanatics and Kindles for the bookworms, smartwatches and convertible laptops for those who ‘must have’ the latest thing ... I could go on!

And it wasn’t just presents that savvy buyers were after. Smart TVs, smart coffee makers and other electrical appliances for the home also flew off the shelves. As if we hadn’t had enough of spending our money, the Boxing Day and January sales have lured more of us into finding just one more bargain?

So what impact does all this have on the contents cover your clients may have purchased at some point throughout the year? It may surprise you that most insurers automatically increase contents insurance during the season of good will to account for the extra valuables that many of us will temporarily have in our home – but such generosity only extends for a brief period while we are giving and receiving presents. And of course the increased cover is generally only valid for items while they’re in the home so the fitband or smartwatch wouldn’t be covered if taken outside.

While many people make New Year’s Resolutions and vow to get fit or lose weight or take up a new hobby or simply take stock of their lives, I doubt that many think about reviewing their insurance cover to make sure they have the right level of protection in place following the festive season. It might be a good idea to get in touch with your clients and get them thinking about the value of the presents they may have received or the goods they may have bought for their home in the sales.

Getting them to review the contents insurance they have in place and update their policy if they need additional cover could pay dividends for you in the future if it means that someone’s precious new bike or gadget can be replaced if stolen. Goodwill isn’t just for Christmas after all.