<< Most Recent Articles

Crime rate is "big factor" in insurance premiums

An area's crime statistics play a major part in deciding home insurance premiums, an industry member has stated.

Spokesperson for Liverpool Victoria Emma Holyer said that insurance companies generally use postcodes to determine the risk factor of areas - homeowners living in places with high rates of theft and burglary will usually have more expensive premiums.

People with houses in such areas should pay particular attention to their domestic security, she stated, by fitting additional locks on their doors and windows and taking other "extra security precautions".

"Your home insurance premium is rated on a number of factors - the likelihood of getting burgled is clearly a big factor in that," Ms Holyer explained.

According to a report by Liverpool Victoria, the contents of an average home in the UK are worth about £25,000.

In addition, the typical British youngster's bedroom now contains items worth a total of £1,720, research from Lloyds TSB claimed this week.

A personal loan can help homeowners to afford insurance costs.

See how much you could borrow with a home loan from Lombard Direct.
© Adfero Ltd

05/12/2007 17:08:49

Most Recent Articles