Christmas is likely to bring an increase in the number of “costly” insurance claims, Axa has stated.
The financial services company noted that although the festive season is seen as a time of “rich pickings” for burglars, there are a number of other risks that could cause customers to make claims on their policies.
These include the threat of flood damage from burst pipes, risk of fire caused by candles and Christmas lights and breakages to toys, electrical equipment and expensive crockery.
Nel Mooy of Axa explained that the consequences of “getting carried away with the Christmas spirit” can be “costly” if accidents take place.
Homeowners who have cancelled their home insurance policies as part of a debt management plan may wish to rethink their decision following Axa’s comments.
Abbey recently warned those who keep their money at home rather than in a bank that they may be putting their finances at risk, as many home insurance policies will not cover the cash should it be stolen or damaged.
By Tom Musk