New Year’s Day sees a 165 per cent increase in home insurance claims, following parties that get out of control and lead to damage or theft, according to statistics from HSBC. The day after the night before will leave many householders with more than a headache, with typical post New Year’s Eve home insurance claims consisting of smashed mirrors, broken windows, and stolen possessions. One HSBC home insurance customer had to make a claim for £127,000 after an unattended candle led to a house fire.

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Several years ago when internet was not as popular as today, when people tried to buy insurance they would have to make a phone call to an insurance agent or take a visit to a local insurance office, but how if they would make some rate or coverage comparison between one policy to another ? in order to do that, they would have to collect a lot of agents phone numbers and call them one by one, or they would have to visit several different insurance offices before they can get the right quote with suitable rate and cover to buy.

That was certainly not an effective way to get quote, it wasted a lot of time and energy, and the worst is they could not always expect the best result.

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More than 10 per cent of parents admit they will probably have to throw away at least one brand new toy on Christmas Day due to breakage, research from esure home insurance has found. One in seven new toys will not last out the day, parents have said, which means an estimated £1.1billion worth of new toys will get broken and discarded this Christmas Day. Broken or damaged toys not only waste money, but also threaten Christmas cheer, the research found, with half of parents saying that a ruined toy means a ruined Christmas; 72 per cent of children are likely to cry or throw a tantrum before the day is out.

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AA car insurance claims are up 40 per cent for December, the insurer has reported, due to the bad weather conditions and a lack of goodwill amongst drivers on the UK’s icy roads. Recent snow fall and freezing conditions have left many of Britain’s roads resembling an ice rink, and many drivers who have been forced to abandon their vehicles are having to make a claim on their car insurance because of damage done to them by other drivers. Many car owners are finding that their cars have been damaged or even broken into, returning to pick up their cars to find them wrecked or scratched by other drivers or stolen by opportunistic thieves.

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AXA home insurance is warning homeowners that Christmas could be a wash out if their pipes burst while they are away from home. With 35 per cent of Brits set to be away from home for a few days this Christmas, AXA home insurance urges them to be wary of the fact that burst pipes could pose an even bigger financial threat than burglary. Only 38 per cent of households will leave the heating on low while they are away to prevent their pipes from freezing, while 71 per cent will lock the windows to keep out burglars. But last winter, AXA home insurance saw one in 1,000 homes make a claim for water damage resulting from burst pipes, with the averaging reaching the £15,000 mark.

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The British Insurance Brokers’ Association (BIBA) is warning travellers who are affected by travel related strikes or financial failure over the Christmas period that not all travel insurance policies are the same. The group is advising travellers to contact their insurance provider to clarify their specific policy coverage, if they have booked independently of a travel agent or tour operator .

BIBA has said that all policies underwritten by Tokio Marine and those purchased from a BIBA broker are protected by the association. Read more…

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