Households could be left "drastically out of pocket" if they do not review their home contents insurance over Christmas, warns RIAS.
The over-50s insurer claims that those who do not check their presents and food are covered under their existing policy risk unnecessary problems if they are targeted by thieves or affected by accidental damage.
"The threat of burglary along with the potential for accidental damage during the Christmas period cannot be ignored," said managing director for the firm Janet Connor.
However, unlike car insurance, people review their home contents insurance less regularly, she added.
The insurance provider advises that households take extra precaution to lock the doors and windows of homes and cars, hide presents out of view and also adding any new gifts to their policy.
UK payments association Apacs have predicted that spending throughout December will reach £53 billion.
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