’Tis the season...to review insurance

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Families are being warned to review their home contents insurance after research found that the value of their possessions increases by around £700 over Christmas.

The average household spent around £502 on Christmas gifts last year and snapped up a further £210 worth of goods in the post-Christmas sales, Sainsbury’s Home Insurance (SHI) found.

Jewellery, watches, designer clothing, laptops and cameras were among the most popular items, with more than two million households reckoned to have received these items in December 2011.

The research also found that last Christmas, almost eight out of 10 households did not review their home contents insurance after the holiday season.

A spokesman for SHI said: “Last year over £9bn was spent on gifts and a further £3.8bn was spent on post-Christmas purchases.

“After Christmas is not just a good time to take advantage of the sales but also time to reflect on the year ahead.”

He said people should tell their insurer about any new high-value item and added: “It’s always a good idea to keep receipts for any new items you may have, or have bought for someone else, as this can help with any home insurance claims you may need to make.”

More than 2,000 people took part in the study.