Monday, November 16, 2009
Category:
Home Improvements
According to Sainsbury’s Finance, the thirteen percent drop in claims for theft, may reveal a possible under insurance problem. This comes at the same time as an increase in burglaries and thefts.
Sainsbury’s Home Insurance is alerting homeowners to the fact that they should take improved precautions in order to protect their assets against burglary and theft. Domestic burglaries in the second quarter of 2009 increased by 2.8% in comparison with the same period last year. In contrast, the number of claims for theft, which includes domestic burglaries and theft of items including bicycles, has reduced by 13 percent.
Sainsbury’s Insurance warn that this could be a sign that fewer people are investing in insurance policies for their homes. In fact, they undertook research earlier this year which showed that almost a million individuals cancelled their home contents insurance, or reduced their insurance due to their financial situation.
Ben Tyte, Sainsbury's Home Insurance Manager, said: "A rise in burglaries may not be a surprise during a recession but what is alarming is the decrease in theft-related claims over the same period which we fear may indicate that fewer people have adequate home contents cover in place. A significant proportion of all home insurance claims relate to theft, and we would urge homeowners to make sure their home security is up to scratch and that they have adequate home contents cover.
"The average home insurance claim for theft is currently around £1,370 and in many cases is much higher, which goes to show that if you are not insured, becoming a burglary victim could severely hit your pocket."
Sainsbury’s Home Insurance offers some top tips for homeowners in order to help protect their property against invasion. Windows which have visible locks will help provide a deterrent whilst keys should be removed from locked doors and windows. Exterior security lights which are activated by movement should be purchased, as should burglar alarms which are clearly visible. When leaving a property unattended, the burglar alarm should be activated, and keys should not be left in obvious places.
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Homeowners who would like to make home improvements in order to increase security in and around their property, and who are looking for the funds to do so, could consider a secured loan for
home improvements. A secured loan for home improvements could allow homeowners to add locks to their windows, as well as installing closed circuit television and stronger perimeter fences around the outside of their properties. Older windows and doors could also be replaced with newer, stronger UPVC versions, also funded by a secured loan for home improvements.
