What is it?
In 2018 insurers paid out nearly £450 million in claims due to theft.
How to prevent it?
Property owners can take a variety of precautions to reduce the risk and impact of theft:
- Consider installing a home security system, such as burglar alarms or security cameras.
- Make sure your property is properly secured. Make sure all doors or windows have locks and check the locks are in good condition.
- Remove opportunities for potential thieves.
- Keep your property’s keys in a secure place. Don’t leave them somewhere that is easily accessible for potential criminals, such as under the door mat or a plant pot.
- Purchase a safe to store valuables in while away from home and provide an extra layer of security.
- Hide your valuables when away from home for an extended period of time.
- When leaving your property uninhabited for an extended period of time, such as for a holiday, do not advertise on social media, etc. Make your property look occupied to deter potential criminals.
- To reduce the impact of theft, it is important to make sure your valuables are covered. You need to be aware that most home insurance policies will include a single item limit (usually £1,500). Items valued at less than this limit will be automatically covered, but you will have to declare high value items worth more, such as laptops, jewellery and bikes.
What to do if it happens?
- Report the incident to the police. Insurers often require a police report as proof that theft has taken place.
- Make sure it’s safe to return to your property.
- Contact your insurer as soon as possible to get the claims process started. Many insurers operate 24-hour helplines and will be able to advice you on the next steps and what will happen with your claim as it goes forward.
- Document all damaged or stolen items. This can help speed up the claims process.
- Document any emergency repairs you have to make, such as repairing locks or windows, and save the receipts. Your insurance policy will usually cover you for any emergency repairs you make following an incident.