Recession could lead to rise in burglaries
A rise in burglaries over the Christmas and New Year period is something that concerns most of us. Many burglars decide to step up the pace over the festive season because this is the time when people tend to have more expensive items in their homes, such as gifts purchased for others or gifts received from others. It is also a time when many people are out of their homes visiting relatives and friends or socialising, giving thieves more opportunity to carry out burglaries.
However, recent reports have indicated that this year could be worse than usual, and that the spate of burglary increases could last much longer than usual because of the recession. Some have suggested that burglaries could increase over the New Year and into next year, stating that burglary is set to become a growth industry in the economic downturn.
Officials have quoted figures from the last economic downturn, stating that during that last recession in the late 1980s and early 1990s the number of burglaries increased significantly before dropping back down again once the economy started to get back on its feet.
It is thought that burglaries will have risen by around 7 percent by the end of this year, and that in 2009 the levels of burglaries could rise by a further 2 percent. With this in mind consumers are being urged to be extra vigilant when it comes to their home and contents insurance cover, and to make sure that they have adequate cover in place and more importantly that their home insurance cover is up to date and has been renewed. Those that become victims of burglary stand to become victims of huge financial losses if they do not have the necessary cover in place.
One official stated that it was vital for consumers to update their insurance cover if they have received new, valuable items over the Christmas period, as the new additions may require extra insurance coverage in order to offer the necessary level of protection.
He said: ‘It only takes a phone call to your insurer to make sure new items haven’t taken you over your cover limits.’
He also added: ‘Many insurers will not insure you for more than £50,000 of contents unless you choose a provider offering unlimited cover. It’s a trade-off between perhaps paying a bit more for the peace of mind of an unlimited policy, or going for a budget option. But either way it pays to check your valuables are covered.’
A number of insurance firms will automatically increase cover for one or two months over the festive season at no extra cost to the policyholder, but it is important to ensure that you increase your level of cover on a longer term basis if you have new items of great value in your home, such as expensive gadgets, jewellery, and other items that you may have received for Christmas.
One consumers explained how she had been glad of having the right level of cover in place after she became the victim of burglary a couple of year ago, stating: ‘Things of sentimental value were stolen, including jewellery, that could not be replaced. It was extremely distressing, but knowing I had unlimited insurance removed some of the worry.’
Tags: insurance coverage, budget, recession, growth, recent reports, burglary, phone call, opportunity
