Archives for February 2012

Rise in burglaries pushing up home insurance costs

 

Burglary Infographic

 

New research by Moneysupermarket.com has identified the places in the UK where householders are most likely to claim on their home insurance policy due to being burgled or being the victim of theft.

Perhaps not surprisingly, the dubious honour of the worst burglary hotspot goes to London and the Stoke Newington area in the north of the city. The N16 postcode saw nearly 34 people in every 1000 making a theft-related insurance claim.

With statistics such as these, it’s no surprise that customers who have recently searched for a moneysupermarket contents insurance quote, will be keen to properly protect their belongings and get a cost-effective and competitive price for their premium.

In joint second place were the postcodes B71, in West Bromwich in the Midlands and BD10, which covers the upmarket Apperley Bridge area of Bradford. Both had nearly 32 claims per 1000 people. Leeds and London have the most entries in the most burglary prone postcodes, but no areas in Scotland or Wales made it into the top 20.

The research was conducted using data from three-million home insurance quotes gathered on the site and covers the period from December 2010 to November 2011.

For the insurance companies, various factors, including the burglary rate in a particular postcode, are considered when they are working out how much to charge you for your policy.

There was better news, however, for people living at the opposite end of the burglary risk scale. The survey showed seventeen places where you are least likely to be burgled. They included Heston in Cornwall, Elgin in Moray and Peterlee in County Durham, which all recorded less than one claim per 1000 people.

If the burglary hotspot research does show that you live in an at-risk area, then you may want to take measures to upgrade the security of your home. However, wherever you live it’s important to protect your property from burglars and make it as difficult as possible for them to gain access to your home (including your garden, shed or garage) and take your belongings.

A few simple measures, such as having security lights and installing effective door and window locks, can all help to deter thieves from choosing your property to break into. A Neighbourhood Watch scheme is also a good idea – you could join an established one or, if none exists in your area, set one up.

Make sure you have adequate contents cover in place by accurately calculating the value of your possessions, just in case the worst does happen and you are burgled. You may need to update the policy if you buy new high-value items and you might also need additional cover for items that are regularly taken out of the home, such as jewellery or laptops.

Savings On Classic Car Insurance

 1966 Barracuda

Having proudly acquired my first classic car I was faced with the problem of finding suitable insurance, as the needs in respect of a classic car are specific and different from mainstream vehicles.

I need not have worried, the internet came to my rescue in the form of classic car insurance comparison sites. It is less than 13 years since it was difficult to access a large number of insurance companies in a short period of time. Often, people did not go beyond searching their yellow pages directory, and the local newspaper adverts.

With the development of personal computers and access to the internet for people of all income brackets, shopping for classic car insurance has completely changed.

Advantages

Comparison sites offer a fabulous way to find suitable and reasonably priced insurance for your classic car. The main benefit is that you can compare quotes from a variety of car insurance companies simultaneously, from the comfort of your own home.

There are an overwhelming number of choices and it is helpful to narrow these down by focussing initially on websites that specialise in this type of insurance. The search can be widened to companies providing insurance for a range of vehicles, which include classic cars, if this becomes necessary.

Pointers to Finding Savings

Specialist cover is needed for classic cars and this includes elements of cover not available on a standard policy. Make sure you look for:

  1. Discounts for senior citizens if you are in that age group.
  2. Limited mileage discounts if you do not anticipate driving a high number of miles.
  3. Discounts for membership of a classic car owners club.
  4. Agreed value cover so you know the amount that will be paid in the event of a claim for total loss.
  5. Discounts for classic cars kept in a garage.

There are many benefits to using car insurance comparison sites, but you should be aware that not all insurance companies advertise on them, and consequently, carrying out a search of individual companies should not be ignored.

It is also important to compare like for like products, for example, one policy may appear cheaper than another, but on closer examination it may have a number of exclusions/restrictions, and a higher excess figure for the customer to pay than other policies.

Comparison sites are a useful tool for securing significant savings!

This guide was written by the editorial team at Classic Car Insurance. For more information – please visit our website at http://www.classic-car-insurance.co.uk

Creative Commons License photo credit: Hugo90

Euroferret.com is owned by Mediamash (NI) Limited, who are an Introducer Appointed Representative of Seopa Ltd. The quote system is owned and operated by Seopa Ltd, who are authorised and regulated by the FCA, number 313860. You can view our registration at www.fsa.gov.uk/register/firmSearchForm.do?sid=127135. We do not give financial advice on this website. If in doubt get professional advice and always read the policy information before purchasing an insurance contract.