UK Home Insurance News

Tuesday, April 26, 2005

 

Burglary fears rise as one in thirty UK homes burgled

The fear of home burglary is on the rise with close to 10 million Britons expecting to be burgled in 2005, according to new research from Direct Line Home Insurance.

The findings highlight that almost half of Britons (47 per cent) are concerned about encountering an intruder in the home, although 29 per cent are unaware of what action they can legally take to protect themselves should this happen. 45 per cent say they would use physical force if they encountered an intruder, including more than a quarter (27 per cent) of women.

And these concerns are not restricted to urbanites, as 43 per cent of Britons living in rural areas expressed concern that they may interrupt an intruder, compared to 40 per cent of inner city residents.

On a more positive note, the Direct Line survey also highlights that community spirit is alive and kicking - seven in ten vigilant Britons actively look out for their neighbours' homes, with half admitting they would investigate if they saw anything untoward taking place.

Reported rising crime statistics (48 per cent) and lack of visible police on the beat (44 per cent) are among the reasons why people expect to be burgled. A further one in five surveyed blames the area they live in for the inevitability of a break-in.

Simon Ziviani from Direct Line Home Insurance comments: "Our research shows that there is growing concern about burglary among homeowners, and coming face-to-face with an intruder is a particular anxiety. However many homeowners do not have sufficient security measures in place and as a result are making themselves unnecessarily vulnerable to the threat of break-ins. Two thirds do not have a burglar alarm, and even more worrying, almost four in ten (39 per cent) do not have adequate locks on their doors and windows."

posted by UK Insurance Index  @ 5:54 PM

Monday, April 25, 2005

 

25% of homeowners without mortgage protection

A survey commissioned by Friends Provident has revealed that nearly a quarter of homeowners in the UK admit that they don't have cover to pay off their mortgage debts in the event of their death - and, among first time buyers, this shortfall is soaring.

And despite almost three quarters of property owners (72%) without adequate cover admitting that they'd lose their home in the wake of family tragedy, the average payment for term assurance is just £2.10 per week - the price of a pint.

According to the research commissioned by Friends Provident, the top reason for not having cover was a belief that it is an unnecessary expense. Nearly a third of people without life insurance (31%) said they didn't need term assurance while almost one in three (30%) revealed they would find it difficult to meet the payments. One in ten homeowners (11%) admitted they were willing to gamble with their family's financial security while 5% pleaded ignorance to the mortgage protection product.

And in spite of the capital's inflated property prices, Londoners are the least likely to have term assurance (30% not covered) while Scots are the most likely to have organized cover to pay off mortgage debts. (only 14% not covered). For those who had taken out cover, more than one in ten (11%) homeowners admitted that their term assurance was not sufficient to pay off their mortgage debt in the event of a breadwinner's death. Despite mortgages being the single biggest financial commitment of our lives, almost half of those surveyed (48%) confessed that they'd failed to seek independent financial advice to ensure that their life assurance was linked to their mortgage.

Peter Hamilton, head of protection at Friends Provident, said: "Most people are happy to insure their house, its contents, their car, travel plans or mobile phone but often give little thought to insuring the income that pays their mortgage and funds their lifestyle. Death, long term sickness and disability are subjects that most of us would rather avoid discussing. Life assurance cannot lessen the emotional impact of such events but it can soften the financial difficulties should the worst happen."

posted by UK Insurance Index  @ 4:19 PM

News items are intended for information only and should not be relied upon when making insurance decisions. Due to their nature some of the information in these news stories may no longer be current.