Free purchase protection a "bonus"

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Free purchase protection a "bonus"

Christmas shoppers could reap the benefits should they make purchases on their credit cards as free insurance is being offered on over half of all cards, according to price comparison website MoneyExpert.

A total of 57 per cent of credit card providers have been found to offer purchase protection to their customers, covering them for theft, loss and accidental damage.

The free insurance offered is worth an average of £1,533 but Sean Gardner, chief executive of MoneyExpert has warned people not to expect that they are automatically covered and described purchase protection as a "nice bonus" rather than a given.

Mr Gardner said: "Many homeowners will have covered their belongings through their home contents insurance, but the added protection is certainly not to be sneered at - there are always loopholes in insurance policies so you can never be over-protected". ."

"If you've got more than one card, it might be prudent at Christmas to use the one with the purchase protection to avoid any nasty surprises if things go wrong."

Research by Direct Line shows that one in ten robberies occur while people are holidaying and therefore stressed the need to secure expensive items in the home.

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