Daily Insurance Industry News
Daily Insurance Industry News
Thursday 20th of September 2018
March 6, 2012

Cost of burglaries on the rise

by Richard Kilner

Story link: Cost of burglaries on the rise

Analysis by The Co-operative Insurance has revealed that the cost of home theft claims has increased substantially over the last two years.

In 2010 the cost of theft claims increased by 8%, followed by a 9% rise in 2011, after three years of the cost remaining flat.

The average burglary claim of today costs £225 more than the average of two years ago, although the number of burglaries reported has remained unchanged over the last five years.

Head of Home Insurance at The Co-operative Lee Mooney attributed the recent rise in claims costs to burglars deliberately stealing higher value items compared to a few years ago.

Mooney went on to explain that expensive goods were heavier and more cumbersome in the past, whereas now many gadgets are light, easily portable and expensive.

Last year Home Office statistics showed a 14% spike in domestic burglary, with Ageas Managing Director Mark Cliff warning that leaving doors and windows unlocked was offering easy pickings for opportunistic criminals.


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