- 02
- Jul
While many people state that they are aware of practices that can help them to lower their home insurance policy, many are putting themselves at risk of a costly claim because they are forgetting to take basic precautions, a new study has found.
Newcastle Building Society has indicated that more than one in ten people (11 per cent) have forgotten to lock their door before leaving their house in the last year, while 58 per cent said they had left their home unattended with appliances still running. For half of all respondents to the financial service provider’s study, failing to check the batteries in their smoke alarm had been neglected. Another common practice which was said to raise the chance of a break-in was leaving expensive personal items on display by not remembering to close curtains before going out the door, with 28 per cent of people admitting to doing so in the past 12 months.
In addition, more than a quarter (26 per cent) of people said they had left the house without locking the windows, while 17 per cent of people had neglected to set the alarm. Newcastle indicated that for many respondents, these acts of forgetfulness were still prevalent despite having to make a claim on their home insurance policy in the past because of similar indiscretions. Of those interviewed, 34 per cent had claimed in the past year, with burglary identified as the most common cause, amounting to seven per cent of all applications.
For those who have found themselves short of insurance protection following a break-in, it is possible that they will have to meet the costs of replacement using savings, credit or personal loans.
Despite seeming somewhat lax about home security, many people expressed an awareness of the need to take measures to lower the costs of home insurance premiums. Commonly identified tactics to bring down the price of a policy included fitting window locks - which 76 per cent thought would help - and fitting a five-lever mortice lock on the front door, which 70 per cent of respondents believed would be beneficial. Fitting alarms (61 per cent) and joining neighbourhood watch schemes (56 per cent) were also said to lower premiums, while 11 per cent of people mistakenly believed that owning a dog would reduce the cost of cover.
For those looking to boost their home security, taking out a personal loan may prove useful in providing the funds necessary to install new locks, security lights and similar forms of protection.
Commenting on the statistics, Steven Marks, lending executive at Newcastle Building Society, said: “While it is encouraging to see that many people are aware of the measures to take to reduce their home contents insurance bill, it is worrying to see the number of people who admit to forgetful acts over a year; especially if they have made a claim in the past. It stands to reason that leaving your home without locking the doors or setting the alarm creates a risk for burglary but it can also affect your home contents cover should you come to claim. If people really want to feel the benefits of their home contents cover they shouldn’t leave their home at risk.”
Insurance provider esure has also recently advised consumers of the need to cover their possessions before heading off to a festival this summer. For those who fail to do so, costs may need to be covered using loans or credit.
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