…

Protection for your Christmas purchases

With Christmas around the corner, and after the ups and downs of 2020, you may be looking forward to exchanging gifts with your loved ones. However, with valuable gifts under the tree, you may be wondering if they are insured, or if your policy will need updating.

In the majority of cases, new purchases can be included on your existing insurance policy – up to a certain percentage of the existing contents sum insured, so long as your insurer is made aware of them and you pay any additional premium required.

We would advise that you provide details of high value purchases, such as art and collections, jewellery, watches, and valuable items, to your Client Manager within 90 days of the acquisition. Different insurers may have differing terms for new acquisitions, which is why it is important to let us know as soon as it is possible to do so.  

Maintain copies of your receipts and valuations

It is important to retain copies of your receipts, particularly for high value items. We recommend making electronic copies of receipts to keep them secure. 

During the Coronavirus pandemic, lockdown restrictions can impact the process of having items valued, depending on the tier your area is in. In some cases, valuers will be able to visit you at home, or you may be required to visit a specialist for this service. Some valuers have even launched virtual valuing services, allowing the valuation to be done using video conferencing software for items including jewellery, watches, and designer accessories.

However you have items valued, be sure to maintain electronic copies of these valuations for your records. 
If you needed to make a claim for an item, your insurer may require copies of the receipt and valuation to support your claim.

Additional drivers over the festive period

We understand that your circumstances may change over the Christmas period, for example, with children returning home from school or university. If you need to add additional drivers to your motor insurance policy, please speak to your Client Manager as soon as possible.

While some insurers include automatic cover for anyone over a certain age to drive your vehicle, some require additional drivers to be named, and this may be subject to an additional premium.

Some of the information they may require includes full name, date of birth, the date they passed their driving test, type of license, and reason they are being added to the policy. If you are unclear, please speak to us.

Here if you need us

During the Christmas period, members of the Marsh Private Clients team will be available to handle any cover requests. If you need to speak to us urgently, please phone or email your Client Manager.

Tags

Read our latest articles