Hike in Home Cover Claims on New Years Day

HSBC have reported that home insurance claims rise by a staggering 165% on New Years Day, perhaps attributable to accidental damage and loss claims from typical New Year celebrations.

Many householders could be waking up in the New Year with more than just a hangover to worry about with typical damage including broken glass, mirrors and windows as well as a number of theft and loss claims.

A single client of HSBC home insurance made a six figure claim following a fire due to an unattended candle.

David Wells, head of insurance propositions at HSBC, said: "At this time of the year, many people will be attending various New Year's gatherings or hosting parties of their own, which invariably mean wine spilt on expensive carpets, broken glasses or even an unplanned bonfire in your living room."

HSBC suggests that to avoid such losses, householders should consider moving valuable possessions before a party, keeping private party details off social networking sites, maintaining good firework safety standards and ensuring good home insurance cover is in place.

Mr Wells added: "New Year should be a fun time of the year and while householders can take practical measures to help prevent these mishaps, accidents do happen. It's therefore important to make sure you have adequate home insurance so that you can enjoy the festivities in the knowledge that the contents of your home are protected, should the worst happen."