Theft claims to increase 100%
Claims for theft will double in 2009, Hiscox has warned.
The Bermuda-based insurer said economic gloom will push up theft claims 100%, following a warning from the Home Secretary that burglaries are on the rise.
Individuals have more to lose compared to previous recessions because the recent boom was so prosperous, the company said.
Consumer culture has seen individuals acquire more valuable possessions than ever before, including jewellery, watches, fine art, and digital equipment – from flat screen televisions and netbooks, to iPods and Wiis.
According to Hiscox, the average home has three times more portable valuables than a decade ago.
Furthermore, the average value of household contents have increased 20% in the last five years.
Hiscox UK managing director Steve Langan said: “The 2009 home contains a treasure trove of valuables for thieves.
“British homeowners have been in accumulation mode for the past decade.”
He added the households should make sure they have adequate protection in place.
Category: Companies News, Home Insurance News, Insurance News
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