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Hiding presents 'could be insurance risk'

Homeowners have been urged to think carefully before hiding their Christmas gifts this year.

According to new research from Abbey, 30 per cent of British people plan to store their presents in somebody else's house until Christmas morning, while 29 per cent stash gifts in their garden shed or garage.

However, the bank warned that such places may not be covered by insurance, meaning that people could risk having an unhappy festive period by putting their presents at the mercy of burglars.

"With 2.9 million people starting their Christmas shopping as early as January, some hiding places can amass a small fortune before they are finally given out as presents," said Prasad Shastri, Abbey's head of insurance marketing.

"You may want to check with the person storing your gift that they are appropriately covered so that you don't end up losing out," he added.

Abbey recently advised people storing their Christmas presents at home to make sure that their insurance will provide cover for the additional value of the gifts. A personal loan can help homeowners to manage insurance costs.

See how much you could borrow with a Lombard Direct personal loan.
© Adfero Ltd

03/12/2007 15:39:52

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