HOUSEHOLDERS in Scotland are afraid that the challenging financial climate will trigger a rise in burglaries, according to a new survey.
However, although 80% think financial challenges will cause an increase in burglaries, only 10% said they will review their home contents insurance.
Findings by leading insurance broker, Lycetts, also showed that 43% have no intention of adding to their home security measures.
“These are difficult times, which is why it’s important that homeowners check they have adequate insurance in place should the worst happen, and they become victims of burglary,” said Lycetts’ insurance expert, James Cuthbertson.
“Burglars will often target small, expensive items such as watches and jewellery as they are easyto transport and sell-on swiftly.
“A common mistake is to renew home insurance cover each year without re-calculating the value of possessions, simply giving an ‘educated guess’ of their worth.
“An item’s value for insurance purposes is how much it would cost to buy new, not what it cost when you bought it.
“Getting written, professional valuations is the safest route to being sufficiently insured. Homeowners should make a detailed inventory – item by item, room by room – and be diligent about receipt-keeping for high value items.
“Some possessions, such as expensive jewellery, collectables, family heirlooms, valuable antiques or fine art may need separate specialist cover.”
Urging vigilance, Cuthbertson stressed the importance of reviewing policies on a regular basis during unsettled periods, rather than just at annual renewal.
He also highlighted that it is the policy holder, not the insurer, who is responsible for ensuring sums insured are adequate.
“Those considering amending their policies should always seek specialist advice before making any decisions.
“There is no guarantee that you will not become a victim of burglary, but doing the utmost to ensure your property and its contents are protected by robust insurance, can at least help mitigate the trauma if you are.”
