Millions of travellers will go abroad over the next week for Christmas and New Year breaks. But festive flyers must be aware that suitcases at this time of year are likely to be filled with hundreds of pounds worth of presents for those heading away for Christmas.

Many could find they are not covered for the additional value of the gifts they are travelling with if their baggage goes missing.

This is because many people underestimate the value of the belongings they are travelling with. The average travel insurance policy will cover a traveller for around £2,000 worth of belongings. This generally includes up to £300 per single item, valuables up to £300 and gadget cover up to £300.

Statistics show that the average Brit is expected to spend £596 on Christmas gifts this year. When you add up all the items the average person takes away with them, from gadgets and jewellery to clothes and shoes, this doesn’t go far. Added together with the cost of any gifts they are travelling with, and many will find themselves quite a bit over the cover limit.

Gigasure urges travellers to consider the full cost of the belongings they are taking away with them including clothing, jewellery, gadgets, computers, along with the added value of any presents they have with them to ensure they have adequate insurance cover. Underinsured presents in your suitcase could cost you £600, with holiday makers finding themselves significantly out of pocket if their baggage containing presents goes missing while flying over Christmas.

Ernesto Suarez, CEO, Gigasure, says:“The risk of baggage getting lost or being delayed significantly increases over Christmas because of the sheer volume of people travelling through the holiday period. Millions of people could find themselves under insured and out of pocket should disaster strike.

“Take time to work out the value of the items you are travelling with over Christmas as you will be surprised at how quickly items add up. Most of us travel with a smart phone, a laptop and clothing as standard which takes us pretty close to the £2,000 of cover provided by most standard travel policies. Add in the value of gifts in our suitcase and depending on the contents, travellers are likely to find themselves way over the threshold.

“For the sake of paying a few extra pounds, travellers could increase the level of baggage protection to cover the full value of their contents. This provides peace of mind that if the worst happens, they will be covered for the full value.

"It’s also sensible to take photos of the goods in your suitcase and keep hold of any receipts as these will be useful if you need to make a claim.”

Festive flyers beware - underinsured presents in your suitcase could leave you £600 out of pocket