As the year winds down and we shift into holiday mode, it’s easy to focus on travel plans, family gatherings, and festive celebrations. But before you switch off for the year, there’s one important task that deserves your attention — checking your insurance cover.
Whether it’s your home, car, travel, or business, making sure you’re adequately protected could save you a lot of stress, money, and heartache if things go wrong over the holidays.
The end of the year is an ideal time to review your policies. Not only does it align with the summer break and peak travel season, but it’s also a good opportunity to ensure your coverage still fits your current lifestyle, assets, and business operations.
Why Year-End Insurance Checks Matter
During the holiday season, risks naturally increase. Many Australians hit the road for long drives, leave their homes unattended, or operate businesses with reduced staff and changed trading hours. Thieves know this, and so do insurers.
Imagine returning from a well-deserved break to find your home has been broken into, only to realise your contents policy hasn’t been updated since you bought that new entertainment system. Or worse — being involved in an accident and discovering your car insurance doesn’t fully cover the costs because of outdated policy details.
The good news? A quick review now can help avoid these headaches later.
Top 5 Tips for Home and Business Insurance Before the Holidays
- Review Your Coverage Levels
Your insurance should reflect your current situation, not last year’s. For homeowners, that means checking your building and contents values. Renovations, new furniture, or technology upgrades can easily push your total replacement cost higher. For businesses, review your asset registers and ensure stock, equipment, and property values are accurate — underinsurance can lead to costly shortfalls in a claim. - Check Your Policy Exclusions and Conditions
Not all insurance policies are created equal. Many have exclusions for unoccupied homes, holiday closures, or certain natural disasters. Some home policies, for example, require someone to check the property every few days if you’re away for extended periods. Businesses may need specific endorsements if operating under altered conditions during the break. Know the fine print before you head off. - Assess Your Risk if Travelling or Closing Up
If you’re going away, take practical steps to reduce risks: secure your home, set timers for lights, suspend deliveries, and ask a neighbour to keep an eye out. For business owners, make sure security systems are working, data is backed up, and emergency contacts are updated. These small actions support your insurer’s risk expectations and could make a difference at claim time. - Review Liability and Cyber Coverage
For businesses, public liability and cyber protection are often overlooked until something goes wrong. End-of-year events, online sales, and remote work all increase exposure. Ensure your policies cover modern risks, including data breaches or online fraud — issues that can be financially devastating and reputationally damaging. - Seek Professional Advice
Insurance can be complex, and the right cover depends on your personal or business circumstances. A qualified insurance broker or adviser can review your policies across all areas — home, motor, travel, life, income protection, and business — to ensure there are no gaps or overlaps. They can also help you understand policy wording, claim limits, and the best structure for your needs and budget.
The Importance of Professional Advice
A short conversation with a broker or adviser could be the difference between full coverage and a nasty surprise. Life changes — whether you’ve moved house, taken out a loan, bought new assets, or hired more staff — can all affect your insurance needs. Brokers or advisers take a holistic look at your situation, explain options in plain English, and advocate for you if you need to make a claim.
As we wrap up the year, take an hour to pause and check your insurances. It’s a simple but powerful step to protect your home, your livelihood, and your peace of mind — so you can truly relax and enjoy the holidays knowing you’re covered.
If this article has inspired you to think about your unique situation and, more importantly, what you and your family are going through right now, please get in touch with your advice professional.
This information does not consider any person’s objectives, financial situation, or needs. Before making a decision, you should consider whether it is appropriate in light of your particular objectives, financial situation, or needs.
(Feedsy Exclusive)
