Insurance claims down despite rise in burglaries

The firm warns this could be a sign fewer people are taking out home insurance policies.

Research undertaken earlier this year by Sainsbury’s Home Insurance revealed that in the last 12 months, nearly an estimated million (946,000) people either cancelled their home contents insurance or reduced the amount of cover they have as a direct consequence of their financial situation.

According to Sainsbury’s Home Insurance, theft currently accounts for around 15% of all home insurance claims.

Ben Tyte, Sainsbury’s Home Insurance Manager, said: "A rise in burglaries may not be a surprise during a recession but what is alarming is the decrease in theft-related claims over the same period which we fear may indicate that fewer people have adequate home contents cover in place. A significant proportion of all home insurance claims relate to theft, and we would urge homeowners to make sure their home security is up to scratch and that they have adequate home contents cover.

"The average home insurance claim for theft is currently around £1370 and in many cases is much higher, which goes to show that if you are not insured, becoming a burglary victim could severely hit your pocket."

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