Cost of burglary £200 million to uninsuredVictims without home insurance hit with big bills

22 May 2010

home insurance

Uninsured victims of burglary are facing a combined annual bill of £200 million, according to research from Clydesdale and Yorkshire Banks.

The research suggests that thousands of UK households burgled every year are not covered by home insurance. As a result, over 6 million homeowners are forced to foot the cost of burglary themselves.

Many UK homes still without cover

The banks analysed statistics from the Association of British Insurers to find that around one in four households in the UK are without home contents insurance, while approximately one in three have no buildings cover.

The UK insurance industry is said to pay out around £3.2bn each year on claims for damage and theft of property - including burglaries - with one in ten homes making a claim each year. The average is claim on buildings cover is roughly £1,260, while the average claim on home contents insurance is just over £1,200.

Home insurance offers peace of mind

Which? insurance expert Dan Moore commented: 'Not getting adequate home insurance is asking for trouble.

'We all have a lot of valuable possessions tied up in our homes and putting aside the emotional stress incurred through loss or damage, insurance is a small price to pay should the worst happen.'

Competitive home insurance quotes

If you're looking to reduce the price of your home insurance premium, it makes sense to put locks on your windows, install British Standard five-lever mortice locks on your doors and, if you can, fit a burglar alarm that you use at all times.

It's also vital to shop around for the best deal. While  price comparison sites can be helpful, the Which? investigation into how they work shows you should use them with caution. The Which? review of home insurers features recommended providers of home insurance, who provide high quality policies as well as receive strong customer services feedback from our members.

pound coins

Which? Money when you need it

You can follow @WhichMoney on Twitter to keep up-to-date with our Best Rates and Recommended Provider product and service reviews.

Sign up for the latest money news, best rates and recommended providers in your newsletter every Friday.

Or for money-saving tips, and news of how what's going on in the world of finance affects you, join Melanie Dowding and James Daley for the Which? Money weekly money podcast

For daily consumer news, subscribe to the Which? news RSS feed here. And to find out how we work for you on money issues, visit our personal finance campaigns pages.