Counting The Insurance Cost Of Christmas

11th November 2007

Christmas shoppers could get less than they bargained for if their carefully chosen gifts get stolen from the office, warn insurance experts.

Office workers often make the most of lunch hours to minimise the last minute present rush, but storing purchases in the office could be a risky idea if the company's insurance does not cover against theft of personal belongings.

Keith Scowcroft, business development executive at Caunce O'Hara insurance brokers, says employees should check their employer's workplace cover.

He added: "Lots of people store presents at work to hide them from loved ones and we would normally expect a commercial insurance policy to include personal effects of employees.

"This is usually subject to a limit of �500 per employee but some shoppers may get carried away and find themselves spending much more.

"There may or may not be a forcible and violent entry condition regarding theft so, as always, it is important to check the fine print."

Scowcroft believes prevention is the best protection against theft, and says shoppers should be aware of potential risks before splashing cash on Christmas gifts.

He added: "If the individual has a household policy then this would probably be the best way of covering this type of eventuality, but always check with your insurance broker as conditions and limits may apply.

"The bottom line is to check your insurance before, not after the event," added Scowcroft.