Daily Insurance Industry News
Daily Insurance Industry News
Wednesday 16th of January 2019
February 21, 2008

CCTV is no route to lower premiums

by Gill Montia

Story link: CCTV is no route to lower premiums

Norwich Union is warning its customers that installing CCTV at domestic premises will not necessarily result in lower insurance premiums.

While CCVT is still regarded as something of a niche product in the domestic market, demand for the security systems is increasing.

Electrical retailer, Maplin, has reported a 70% increase in its sales of domestic security cameras in the past year.

Over 90 different security cameras and CCTV kits are now available and one of the most popular items is a camera that allows users to view their property anywhere in the world, via the Internet

However, according to Alison Palmer, a household underwriting consultant with Norwich Union, there is insufficient evidence as to whether CCTV systems actually deter criminals.

The insurer does not therefore, take CCTV into account when calculating premiums.

Instead, Norwich Union suggests lower insurance premiums can be secured by fitting a burglar alarm and locks that have been pre-approved by the insurer.

In addition, a small discount is available to customers who are active members of a Neighbourhood Watch scheme.


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