Hiding gifts could prove a costly mistake
It can be tempting to find hiding places for Christmas gifts outside the home, where loved ones won’t be able to take a sneaky peek.
Car and home insurance expert Ryan Fulthrope from GoCompare (gocompare.com) asks: “If your car is broken into or stolen, would your gifts be covered?”
GoCompare found that for those claiming on car insurance, out of 327 standard comprehensive car insurance products, 306 would cover personal possessions as standard – but with varying degrees of financial cover.
When there is a cash limit involved, 43 policies would cover possessions worth £400 or more, 98 offered cover between £250 and £399, 109 covered between £150 and £250, and 56 policies would cover less than £150 if personal possessions were stolen.
This would change if your windscreen or windows are broken in the process. GoCompare found 306 standard car insurance policies cover windscreens as standard, with an additional 13 policies covering for side windows smashed in a theft.
For pricier gifts, it might be worth looking at whether they would be covered by home contents insurance. When GoCompare looked at home contents policies, it found some would cover personal possessions in a car, up to certain stated amounts. But some insurance companies will only cover everyday items – and may not cover gifts hidden in a car.
GoCompare says checking the exact wording of home contents policy is important – and firms may want proof that items were hidden from view in a locked boot.
People may also be tempted to move gifts from the car to the garden shed. As well as making sure it’s locked, it’s also wise to check with your insurer whether your items would be covered there.