AMI data warns of spike in insurance claims over festive period
The report found that insurance claims typically spike two to six times the yearly average from Boxing Day to the end of January, with contents claims increasing approximately two to three times more than the annual average. In 2021-22, daily contents claim rates for the week following New Year’s Eve were six times higher than at any other time of the year.
“There’s clearly a seasonal spike over summer,” said Wayne Tippet, executive general manager claims at AMI. “It’s likely because that’s when people finally relax after all the bustle of Christmas and are out and about on the roads. And I expect that last year was so high because of the loosening of extended COVID restrictions and lockdowns.”
Christmas tree claims
AMI said it typically received around 36 claims related to Christmas trees every year. Claims relate to damage caused while the tree is in transit, either on the road or passed down from the attic, damage caused by pets, hitting the TV, or stained carpets from liquid glitter.
Beach claims
AMI found that beach-related claims accounted for 5.3% of all claims in January 2022. The top items claimed for are:
Phones, iPads, laptops, and other electronics (33%);
Jewellery (23%);
Spectacles and glasses (22%);
BBQs (10%);
Hearing aids (6%); and
Dentures (2%).
Boat claims
AMI found that daily insurance claims involving boats last summer jumped by 97% between Christmas Eve and January 31. During the year, the insurer received around 4.1 claims for boats per day.
Christmas dinner claims
Tippet said AMI does not receive many claims related to Christmas cooking. However, for those opting for chicken dinner, the risk remains about the same as any other time of the year – approximately one claim every three days:
32% of chicken claims are for frozen food spoilage;
20% are for dentures;
14% are for stains; and
12% are for damage to hobs/cooktops/ovens, usually from dropping the frozen chook.
Mobile phone claims
Mobile phones show an interesting trend during the festive season, with daily claim numbers dropping by 15% between Christmas Eve and New Year’s Eve. However, from New Year’s Eve and the week afterwards, mobile phone claims soar, with average daily claim rated up 47% more than the previous week.
Bike claims
AMI warned that 54% of all bicycle claims are for theft, even for bikes secured with a lock at home. During a road trip, common bike-related accidents include falling off racks, damage from tail pipe heat, and damage from reversing into structures while the bike is on the back of the car and driving under low-lying structures while the bike is on the roof.
“At this time of the year, no one wants to be out of pocket, so it’s a good idea to put an insurance review on your Christmas list,” Tippet said. “And if you need to make a claim, we’ll have people working throughout the festive season to get you back on your feet as quickly as possible.”
