Protecting Personal Possessions
At this time of year, everyone is sporting their expensive new watch, MP3 player, mobile phone or palmtop. However whilst out enjoying a drink in order to continue the festive spirit, many people forget to keep an eye on their new prized possessions, wallets and handbags.
Each year 2.5 million people end their evenings out making frantic calls to the police and insurance companies to report lost or stolen items. New research reveals that over £300 million worth of items went missing during big nights out last year alone.1In addition, 24 hour drinking laws may be a license for these figures to go up, as more people go out for longer.
Now is the opportune time to illustrate to your customers how important protecting their personal possessions is, as part of the B&C insurance.
Up to 87% of handbags are uninsured
A recent survey of 1,700 women found that the average handbag and its contents are estimated to be worth £577,2 yet most women believe the contents to be worth just £153.33.2
Furthermore 1 in 5 women said that they had had their handbags stolen in the past and that they would be devestated if their bag was pinched. However 70% had not insured their handbags and another 17% didn't know if theirs was covered.2
With 87% of handbags uninsured,2 your customers are probably in the market to be told about personal possessions insurance as part of their home contents and some may have unknowingly double insured their belongings by paying for two seperate policies.
So it makes sense to offer them the cheaper option of personal possessions insurance within their Paymentshield B&C, starting from as little as £1 extra a month to cover more than £1,000 worth of items. Cover protects against the loss, theft or damage of items carried both inside and outside the home, ranging from diamond rings to mountain bikes. It also covers money lost in the UK or overseas, as well as cover for mobile phones.
- HBOS, Press Release 11th March 2005
- Prudential Report, 14th September 2004