Virgin Money advises keeping an eye on insurance at Christmas

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Virgin Money advises keeping an eye on insurance at Christmas

Virgin Money is advising homeowners to check their household contents insurance policies in the run up to Christmas, to see if presents will be covered.

According to Virgin Money, the UK is expected to spend £82.3 billion in the three months up until January 1st, which could mean that many households' contents are significantly more valuable then they were when their owners purchased insurance policies.

Grant Bather, spokesman for Virgin Money, said that despite the credit crunch, people would still be celebrating over the Christmas period.

However, he warned: "Of course, just because it's Christmas it doesn't mean that burglars stop working and that accidents do not happen. [Christmas] means potentially thousands of pounds worth of extra goodies in homes."

Last week Abbey Home Insurance warned that the oncoming recession was likely to cause an increase in the number of domestic burglaries.

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