Dec 21, 2021 4:39:00 PM

The Importance of Insurance at This Time of Year

Topics: Insurance, Financial Health, Health and Wellbeing, Home and Contents Insurance 0

The festive season is a busy time of year and there’s a lot to think about. Gatherings with family and friends. Holiday traditions. Christmas shopping and gift-giving. With so much going on, it’s important you take some time to check that you have the right financial protection to keep you and your family – and your possessions – safe over the festive season. Here are 3 reasons why insurance is so important at this time of year.


1. Keeping you safe on the road

While Christmas is traditionally referred to as “the most wonderful time of the year”, if you’re one of the many frazzled drivers battling the traffic, you may not agree.

This year, we can expect to see an ever bigger increase in traffic, as more Kiwis are staying home, unable to travel overseas due to closed borders. Add to this Christmas shoppers, those getting away on holiday, and endless end-of-year functions, and it’s not surprising the roads are so busy. With busier than usual road traffic, road collisions and accidents will likely increase too.

The importance of the right insurance cover can’t be stressed enough when it comes to keeping you and your family safe on the roads. Check that your car insurance policy is up to date, and discuss with your financial adviser any changes to your financial and personal situation that could impact your insurance policy and premiums.

2. Covering all the extras at home

January is the busiest time of the year for burglaries, according to claims data from the Insurance Council of New Zealand (ICNZ). And it’s not hard to see why. Many of us are away on holiday, leaving empty homes packed with Christmas spoils just ripe for opportunistic thieves!

As well as replacing any contents stolen from your home, insurance can help pay for things like broken windows and damaged locks caused by burglars trying to gain access. And while insurance may not replace those sentimental items you treasure, it can help alleviate some of the financial loss of a burglary.

Remember to let your insurance company know if you’re going to be away for an extended period of time, or if you have someone staying in your home while you’re away. And check that your house, contents and car insurance policies are up to date and have the right amount of cover, including any extra, expensive Christmas presents.

3. Peace of mind when things go wrong

Accidental damage to property or items in the home at this time of year are not uncommon, and it’s helpful to know you have the right insurance cover to pay for those unexpected events.

Everything from a fire caused by faulty Christmas lights, through to burst water pipes, or power outages spoiling Christmas lunch. It’s a good reminder to be vigilant of our property and check that your insurance covers accidental in the home. 

A very, merry time of year

One final thought as you wrap the gifts and prepare your Christmas lunch, take time to review your insurance cover. Call your financial adviser to go over your insurance policies, and ensure you and your family are adequately covered during this holiday season.