Thefts push up home insurance claims

Thefts push up home insurance claims

As the dark nights draw in our homes are at great danger from opportunist thieves, but it seems some are more are prone to burglaries than others.

Research into the areas of the UK most likely to make a claim on their home insurance as a result of a theft or burglary has revealed that Doncaster in South Yorkshire is most at threat with 5.94 per cent of homes having made a claim in the last 12 months. It is closely followed by Bristol with 5.68 per cent of homes having made a burglary or theft claim on their home insurance, and Canvey Island in Essex with 5.36 per cent.

Unsurprisingly, the top 20 is dominated by some of the UK’s largest cities and towns. Postcodes in areas such as Birmingham and Leeds make the list, while four London postcodes and one South West London postcode are also included.

What does this mean for home insurance premiums?

Home insurance companies assess their premiums on risk – the more likely you are to make a claim, the higher your premiums will be. This can be based on a number of factors. For example, if you live in a flood-risk area then your premiums will be high due to the risk that insurers may have to offer a payout for flood damage or subsidence.

If your property is classified as being in a ‘high-risk’ area for crime, then you’re also likely to be punished. Of course there are no strict rules and homes in affluent areas with relatively low levels of crime could still suffer high premiums because their homes contain expensive goods.

Though common sense would suggest home insurers should take their premiums on a case by case basis, the reality is that many cities and towns risk being blacklisted if they are shown to have consistently high levels of crime.

To make matters worse, this risk is heightened over the coming weeks and months. With daylight saving time having adjusted to Greenwich Mean Time in the UK on October 26, burglaries typically increase by around 20 per cent according to research by Halifax home insurance. With the average cost of a burglary in the UK reaching £2,000 last year, it’s vital homeowners do all they can to keep their properties safe.

How to reduce the risk of making a home insurance claim

The good news for homeowners is that many home insurance providers will offer discounts if you take steps to reduce your risk. In the case of theft and burglary, there are numerous actions that can be taken.

Firstly, invest in a good burglar alarm. Though a burglar alarm won’t stop a theft taking place it can act as a deterrent. Consult your insurer before you go out and buy a model, as some will offer discounts in the region of 10 per cent if you install an alarm that the insurer itself has approved.

There are many high-tech home security systems available, although they can be expensive. It can be just as effective to install visible and high quality locks on the windows and doors along with security lighting outside the property as burglars don’t like to work where they are easily spotted. CCTV cameras can be a good deterrent, and time-switch lights are useful particularly if you’re planning to go away for a period of time, to give any potential thieves the impression that you are at home.

If you are planning to get away over the winter months ask a neighbour or friend you trust to collect your post for you and remember to cancel your milk delivery. If there’s someone you are comfortable with, it may even be possible for them to enter your home each day and open and draw curtains so the appearance is that the home is occupied.

Remember to take care of items in the garden too. Keep ladders and bins out of sight as they can be used to gain access to a property. Consider fitting high-rise fences as this can remove an escape route and plant thorny and prickly hedges around the windows.

Of course even the most thorough preparation might not deter the most adamant of thieves, so ensure you’re well prepared in case a claim is necessary. Keep hold of receipts, take photographs of valuable items and lock your most expensive possessions in a safe if you have one at home – or at least out of sight.

Check your home insurance policy is up to date and includes your most recent purchases. If you feel your cover is inadequate compare home insurance online for a more suitable policy.

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