December 06, 2009 19:00 ET

Households Plan Big Christmas Spends this Year

MANCHESTER, UNITED KINGDOM--(Marketwire - Dec. 6, 2009) - Nearly half of British households are planning to spend the same amount on Christmas presents this year as they did in 2008.

A survey of 1,274 customers by Swinton, the UK's leading provider of home insurance, found that 49.3% of people are planning to spend the same amount of cash on presents as they did last year.

Surprisingly, almost one in ten (8%) were planning to spend more than they did last year.

However, the credit crunch is still hitting a lot of households hard, as 42.7% intended to spend less money this year.

Steve Chelton, Insurer Development Manager for Swinton, said: "Not many people are aware that at Christmas their home insurance is increased by at least 10 % for up to 30 days either side of Christmas day. This is to protect all of the additional items that can be in the home at this time of year, such as expensive presents.

"We would urge all homeowners to check that they have adequate house insurance, especially during Christmas. Many thieves prey on homes during the festive season, knowing that they are often stacked with expensive presents."

About Swinton

- With 580 branches nationwide Swinton is the UK's largest high street insurance retailer

- Unlike many other companies in the financial services industry, Swinton is committed to keeping its branches open for business, and part of the community

- Swinton provides a one-stop-shop for the insurance and related needs of its clients, offering home, car, caravan, business, holiday, motorbike and even classic car insurance

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