Burglars’ activity rife during recession

On the back of the recent huge robbery at a London Jewellery store, where £40 million worth of loot was taken, industry officials are now warning consumers to be on their guard. Read more

Tags: GBP, hassle, theft, August, company, burglary, Insurance

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. Read more

Tags: burglary, recent reports, growth, budget, phone call

‘Common room valuables’ may not be covered

As the academic year gets underway for thousands of students, one organisation is warning them to keep an eye on their belongings or risk losing out financially.

Graeme Trudgill, technical services manager for the British Insurance Brokers’ Association, said that items left in communal areas like the kitchen or living room may not be included in some insurance policies.

“Don’t leave valuable items where they’re visible through windows, and they need to keep their laptops and things in their locked room when they go out,” he advised. “If it’s stolen from a communal area, it may not be covered.”

According to the London Student Housing Guide, the average cost of a student burglary is £900 – and what’s more they are more at risk than other Britons.

“Students are three times more likely than the average homeowner to be burgled,” Mr Trudgill said. “One in three students fall victim to crime each year.”

A separate report from Abbey revealed recently that each student will have on average £3,300 worth of possessions with them at university.

Tags: victim, burglary, the London Student Housing Guide, technical services manager, Common room valuables, home insurance

Protect your expensive wedding gifts

A new report has highlighted the importance of home insurance for newly weds, citing the cost of ever extravagant wedding gifts as the main reason for needing to get home insurance cover pretty much right away following the wedding.

According to reports wedding gifts are getting more and more extravagant, and with gifts as expensive and luxurious as plasma screen TVs and the like being purchased as wedding gifts in some cases, home insurance cover is more important than ever for newly weds with thousands of pounds worth of presents.

Research was carried out by NFU Mutual, which showed that under ten percent of newlywed couples actually check their insurance policies immediately after the wedding, which means that millions of pounds worth of extravagant wedding gifts could be at risk, as it could be left in the new homes of newlyweds as they jet off to enjoy their honeymoon still caught up in the excitement of the wedding.

Research also showed that many newlyweds couldn’t remember whether they had checked their policies or not following the wedding. Officials reports that millions of pounds are spent on wedding gifts each year in the UK, and those gifts could be at risk from damage or theft – particularly if they are being left in the house whilst the couple go on honeymoon – which could mean huge financial losses for the newlyweds just as they embark upon their married life together.

One official from NFU Mutual stated: “There is a great deal of excitement in the run up to a wedding and naturally, the practicalities of checking your home insurance can sometimes be forgotten.”

Tom Smith
31st May 2007

Tags: honeymoon, break, gifts, increase, value, house, wedding

Content insurance claims due to rocket in January

Barclays Home Insurance experts have warned that the level and cost of contents insurance claims in January is likely to rocket compared to claims made over the rest of the year, following a similar trend to recent years. Barclays state that this is due to the increase in thefts and burglaries in homes over the festive period, where thieves target homes because of potential rich pickings in the way of gifts, as well as the increased likelihood of homes being empty due to homeowners being out at parties or visiting relations.

According to Barclays Insurance the number of claims during the month of January can rise by around fourteen percent, and based on last year’s figures the cost of claims could shoot up again this year. In January 2006 there was a rise of fifteen hundred pounds compared to the amount claimed throughout the rest of 2005. Barclays experts state that consumers need to take care to minimize the chances of theft.

Barclays also advise customers to ensure that they have adequate cover in place in order to protect themselves during this higher risk period.

One official stated: “The least you can do to make sure your Christmas doesn’t get spoilt by burglars, is to ensure you have sufficient cover in place as part of your home insurance policy. While your insurance won’t be able to compensate you for the distress a burglary can cause, it will allow you to replace all of your stolen items, so that your Christmas doesn’t have to end in a bitter disappointment.”

Consumers are also advised not to leave present on show, and to ensure that there is someone to look after the home in the event that they have to go out for a long period or are away visiting relations.

The Barclays spokesperson added: “Christmas should be the time of fun and happiness but it has unfortunately also become a time of year where more thefts and burglaries are occurring. Nowadays many presents are high in value but also light and portable, such as laptops, jewellery, gadgets like iPods and BlackBerrys or the latest games console – making them ideal targets for burglars. ”

Tags: steal, theft, barclays, contents, christmas, burglary

Brits Seriously Undervaluing the Cost of Their Home Contents

New research published by Legal & General indicates that most Brits are seriously undervaluing the cost of replacing their home contents when it comes to filing a home contents insurance policy. 

The average UK homeowner currently values the possession in their home to worth a mere £14,300, whereas the actual cost of replacing most items found in an average UK home would likely cost more than £38,000.  Alone, the average UK living room now contains electrical and other goods that make the value of replacing these exceed £10,500.

With research undertaken recently by the Halifax Home Insurance showing that burglaries and house theft levels in the UK increasing by as much as 8%. During the winter months, UK home insurance providers are not only cautioning homeowners to take extra precautions to ensure the safety of their homes but are also asking policyholders to take a careful look around their home and make sure they are reflecting a true value to the value of the contents.

Moreover, with the average UK homeowner unlikely to amend their home contents insurance dramatically year-on-year, a big question remains whether UK households take into account items purchased for their homes in the previous calendar year when renewing their home contents insurance.  Given that new electronic items can be expensive, UK home contents insurance policyholders should also be taking a close look at whether or not the threshold value of home contents is being reached and whether or not new expensive items need to be reported individually when renewing a home contents insurance policy. 

Special attention should also be given to any new jewellery items you may have purchased in the last year, as these are also unlikely to be covered under any general home contents insurance policy unless they have been specifically identified.  In this regard, it is generally advised that any UK household photograph new items purchased so that they can keep a log of all of the items in their home.  Photographing home contents is also much easier when it comes to making any claim on your UK home contents insurance policy.

Reflecting this general opinion among home contents insurance providers in the UK, Andy Dawson, operations director at Legal & General, commented, “From the survey findings it would appear that insurance cover loss of property from the home could be over £20,000 below the level it should be.  We would suggest that everyone take the research findings as a prompt to review their home contents and check the insurance cover they have in place”.

Tags: Insurance, damage, steal, belongings, burglary, costs, fire