Christmas and Insurance – The Secret Link

It depends on what religion you are, but if you are asked about Christmas words like “Jesus”, Santa”, or “Turkey”, it may come up. When asked about Insurance, you might be able to think of a few other words. What do Insurance and Christmas have in common?

1. While many may wish Christmas came more often, we all know that it only happens once a year. Similar to most insurance policies that have an annual renewal date. The first line of the Christmas song, “12 Days of Christmas”, could be perfect for Insurance. It is the principle of Indemnity. This means that if you lose your job, you will get back to the same financial position as before the loss.

Imagine how different the song would be if our dear friend, the Partridge in a pear tree, was replaced by:

My true love gave me the principle of indemnity on the first day of Christmas.

While the principle of indemnity can be one of the most important aspects of insurance, not everyone would like to receive it from their loved ones.

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2. Do you recognize the following story? The Christmas tree is decorated with all the gifts Santa left behind. You are hoping that the large box with your name on the front contains the latest (playstation, IPOD, perfume or brew your very own beet kits in hours, or any other gift you desired), only to find it inside a (cookie baked by your aunt, cheap aftershave, or a jumper knitted and colored by your Gran using the 2 colors of wool she left – yellow and pink – or some other gift.

This may sound familiar to your family. Insurance can sometimes provide the same feeling. It is possible that you thought your insurance policy would cover you in case of a loss, but it didn’t. What can you do to prevent this from happening? That brings us to number 3.

3. You will reap the rewards of your research. Remember all those hints that your wife/husband/children have dropped in the days, weeks and months leading up to Christmas about the present they would really like? If you have been paying attention, and taken notes during the Christmas period about what you would like to buy for your family, then you have every chance of a very Merry Christmas.

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Do your Christmas research and you will have a great time. You can do your research by contacting your insurance company.

  1. Locate an insurance broker that specializes in the type risk you are looking to cover
  2. You can get discounts if you purchase more than one type insurance from them
  3. Receive risk management advice to reduce your risk exposure and increase your insurance premium
  4. You need the right coverage. This means working with an insurance broker to find the best one for you, and listening to their expert advice before deciding what you need.

And if you do experience a loss, you will have the coverage you need to ensure that indemnity kicks into effect and you are put back in the exact same financial position you were before the loss.

4. Finally, when it comes Christmas and Insurance, Father Christmas has a beard like many others in the insurance industry!

Enjoy a Merry Christmas, and ensure your family and business get the security and peace of mind that they deserve.

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