Christmas is coming and British children are set to receive £1.4 billion worth of presents when the festive period arrives, but what affect could this have on your home contents insurance?

Christmas is coming and British children are set to receive £1.4 billion worth of presents when the festive period arrives, but what affect could this have on your home contents insurance?

British parents are spending an average of £119 on each of their children and an additional £16 on young friends and relatives, according to Churchill Home Insurance.

Around £7.3 billion worth of toys are already sitting in children's rooms, meaning that each child has around £618 worth of possessions in their rooms. But this year's expected Christmas spending is set to boost the figure to around £750.

"The research suggests that there are millions of pounds worth of gifts in homes around Christmas time," said Martin Scott, head of home insurance at Churchill.

"It's important that once the Christmas period is over, homeowners review the value of their home contents to ensure their contents sum insured is still adequate to replace all their possessions as new."

Home insurance providers often raise the value of contents cover at Christmas, but the presents bought for the little ones still stay in the house once the period passes.