Insurance warning regarding burglaries
While it will come as no surprise to the UK population to learn that crime, fraud and scams increase in frequency during difficult times, a forecast 50% increase in burglaries by the end of 2009 may surprise many. This is the figure being suggested by the insurance giant Norwich Union which is being used as a warning for those considering reducing their home insurance cover or those who have cancelled their cover.
Even though the need to retain assets and funds in these difficult times is paramount, a reduction in insurance premiums is a very risky solution. As more and more UK consumers consider reducing their home insurance, the cost of replacing goods and repairing potential damage from any break-in could push many over the edge. It is worth remembering that the UK home insurance market is very competitive and there are deals and offers available both online and off-line which could significantly cut your current premiums while retaining a similar level of cover.
This goes for all other areas of insurance with news that more and more drivers are travelling on UK roads without valid insurance. It would appear that the potential fines incurred if caught by the police is insignificant for many, compared to the savings they could make, even though it is illegal.
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