Key points

• Making sure your insurance policy is just right, before the holiday season kicks in, is important.
• That’s because thefts tend to spike at home and in retail businesses in the lead up to the holiday period.
• Being covered gives you peace of mind, and a lot of other good stuff.
• This article offers up tips for anyone looking to protect their home or retail business over the holidays. (And the best thing is, they’re not that hard!)

Why should I care about insurance before the holidays?
It may seem like the last thing you’d want to think about, but making sure you’re covered just right, before the holiday season kicks in, is a smart move. Here’s why.

• Thefts tend to spike just before the holiday period (at home and for businesses).
• Accidents are more prevalent during the holiday season, especially during busy events.
• If you receive a valuable gift, it’s a good idea to cover it in case it is stolen or lost.
• Injury claims or losses from staff mistakes are more likely, due to the holiday rush and staff fatigue.
• You get peace of mind, knowing you’re fully covered ahead of the busy holiday period.
• You’ll reduce your risk of underinsurance, because your policy is up to date and there are no gaps in your cover.
• The claims process is quicker, as up-to-date policies result in more efficient claims, which means you get reimbursed faster.

Tips for getting holiday-ready

We’ve put together some simple tips designed to protect you during the holiday season.

Safeguarding your home

Test your Christmas lights

• Faulty lighting is known to cause fires and electrical incidents in Australia.
• Always test your lights for faults before hanging them up.
• Use compliant power boards and extension cords.
• Avoid overloading sockets.
• Don’t leave cords where someone might trip on them.
• Turn off lights before bed to reduce fire risks and save power. (Use a timer if that is easier!)

Keep your home secure

• Unfortunately, break-ins tend to spike in the lead up to Christmas.
• Lock all doors and use deadbolts on windows.
• Install motion-sensor lighting.
• Do not place valuables in view of windows (this can encourage ‘smash and grabs’).
• If you’re going away, ask a neighbour to collect your mail.
• Close gates if you have them, so it’s harder for thieves to access your home.

Update your cover

• Keep a list of your valuables and assets, including a description, photo and receipt (if you have it) of the item.
• Update this list when you receive new valuables and send it to your insurer.
• Most policies cover contents up to a set amount, without specific itemisation.
• However, high-value items, such as gifts worth over $5,000 or art worth over $25,000 need to be added to your policy.
• Report all new valuables to your insurer, so your cover can be adjusted, and you are not underinsured. (Head here for more on our home insurance products.)

Safeguarding your retail business

Reduce theft

• Unfortunately, it is easier for people to shoplift when a store is busy, which tends to be the case during the holiday season.
• Ramping up security is a good way to handle this.
• Installing surveillance cameras and using anti-theft devices is a great deterrent.
• Train your staff, so they know what to look out for and what to do if they see someone shoplifting.

Manage fatigue

• Longer hours and more shoppers mean retail staff (understandably) get worn out over the holiday season.
• Fatigue is a major cause of workplace accidents, so managing it is critical.
• Consider hiring temporary staff to support your team during the busy period.
• Just make sure new hires get proper OH&S training to minimise risk and injury claims.

Protect yourself from break-ins

• Retail stores are at a higher risk of burglary during the holidays.
• There’s more stock and it’s easy for workers to get distracted when things are busy, so conditions are ripe.
• Review your retail business insurance policy to ensure it covers you for stock losses and potential business interruptions.

That sounds like a lot of work
It kind of does. But our job is to make handling the insurance part easy for you. Plus, being proactive will pay you back ten-fold, if something unforeseen were to take place. If you want support with finding a policy that matches you, or you want us to review your existing policy, please get in touch.