There's No Place Like Home This New Year's Eve

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Almost seven million adults' plans affected by lack of cash*

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It's no surprise that people are opting to stay in this New Year's Eve. It's been a tough year financially for many and the expense of going out, coupled with icy temperatures and transport chaos, make a night in with loved ones a very appealing option for seeing out 2008.

The UK is set to shun bars and clubs this New Year's Eve with almost two thirds of the population (63 per cent) preferring to spend the night in with friends and family, reveals the fourth Post Office® Home Insurance New Year survey.**

After a year of tightening credit and job insecurity, the majority of adults would rather see off the year without the traditional 'big night out'. Instead, New Year's Eve has become another victim of the credit crunch with eight in 10 adults (79 per cent) affected staying in this year because of money worries.

One in seven (14 per cent) people feel that the credit crunch has directly impacted their plans, of which an unfortunate one in 10 (10 per cent) are no longer in work after being made redundant.

With only one in eight adults (12 per cent) planning to go to a bar or club, venues could face further financial woes with less revellers going out this year. Those most willing to throw caution to the wind and splash their cash this New Year's Eve are 18 to 24 year olds, with one in four (26 per cent) hitting bars, clubs and restaurants.

As many people feel the financial strain it seems family values are taking precedence over partying, with almost half (45 per cent) of people putting loved ones first when making their plans.

Emma Baunach, Post Office® house insurance manager, said: "It's no surprise that people are opting to stay in this New Year's Eve. It's been a tough year financially for many and the expense of going out, coupled with icy temperatures and transport chaos, make a night in with loved ones a very appealing option for seeing out 2008."

"The half of the population who will be spending the night in front of their television or hosting a party at home should check that their home contents insurance covers against any party mishaps with accidental damage cover. Carpets and furniture can be easily ruined by red wine stains or cigarette burns. Unprotected homeowners could find that staying in on New Year's Eve is more expensive than going out if they have to pay out afterwards."

New customers can now claim £50 cashback when taking out a combined Post Office® Buildings and Contents Insurance policy in branch until 31 March 2009.***

For more details on what the Post Office® has to offer for home insurance, visit your local branch, go to postoffice.co.uk or call 0800 169 6500.

Notes to Editors

Post Office® offers a range of insurance services including, home, travel, life and car insurance.

*Of the 48.315m adults 14% (6.7641m) stated their plans have been affected by the credit crunch
**YouGov interviewed a random sample of 2,160 adults between 5th - 8th December 2008.
***Offer expires 31 March 2009. Customers will receive £50 cashback for a combined buildings & contents policy when purchased in branch only.

About Post Office® Home and Contents Insurance

  •     Launched in November 2004 it uses a panel of insurers through Junction, which shops around on behalf of the customer and can save homeowners to up to £173 on their existing home insurance
  •     Customers can buy home and contents cover separately or combined. Also covers garden contents up to the value of £500
  •     At Christmas and other religious festivals or during family weddings customers automatically receive an 10% increase on their cover at no extra cost
  •     Included in the policy is Home Assistance, which provides 24-hour assistance for emergencies such as burst pipes or blocked drains.
  •     Optional extras to supplement the policy:

1. Building insurance offers a minimum cover of £35,000 and a maximum cover of £750,000, with a maximum no claims discount of 35%
2. Contents insurance offers a minimum cover of £15,000 and a maximum cover of £99,000, with a maximum no claims discount of 35%. Minimum 'all risks' cover is £2000
3. New customers can claim £50 cashback on combined home and contents insurance when purchased in branch*

For more information please contact:

Halina Flannery/ Stuart Lerman
020 7566 9720/ 020 7294 3674

Hayley Fowell
Royal Mail
Press Office
020 7250 2417
148 Old Street
London
EC1V 9HQ

Post Office Ltd. Registered in England and Wales no: 2154540. Registered Office: 80-86 Old Street, London, EC1V 9NN.
The Post Office and the Post Office symbol are registered trade marks of Post Office Ltd.

Post Office Ltd is an appointed representative of The Governor and Company of the Bank of Ireland, which is authorised by the Irish Financial Regulator and the Financial Services Authority; regulated by the Financial Services Authority for the conduct of UK business. Bank of Ireland, incorporated in the Republic of Ireland with limited liability. Registered in England and Wales with branch number BR000459.

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