Better Home Security for Reduced Insurance Premiums

As much as a lot of people quite justifiably hurl a lot of criticism in the way of the financial sector, a lot of the services they offer are just about as essential as the basic needs we have of providing food, shelter etc. In the modern world we’re currently living in, the dependence we have as a society on economics warrants the need for financial services such as banking and insurance, particularly insurance in that it’s virtually impossible for one person, in isolation, to otherwise fulfil all their economic needs in the event that a financial emergency befalls them.

In the specific case of household goods insurance, while a lot of your household goods derive most of their value out of offering comfort and even entertainment, this just makes up part of what it means to be safe and comfortable in the sanctuary that is your home. Your big screen TV offers more than just a bit of entertainment for instance and perhaps helps you relax better and is perhaps even a source of information for you, so there’s naturally a lot of value in household items such as that — value which couldn’t really be legitimately tied to the monetary value they are indeed tied to.

A UK home security study conducted by leading ironmongery and household hardware retailer brings into perspective how value is tied to some of the goods which are stolen by home burglars, with the average cost of a burglary in 2000 amounting to £2,300 per incident. If that figure is adjusted for inflation, it would amount to £3,600 today and these were home office goods that were stolen, discounting commonly stolen items which have seen a rise in recent times, like laptops and smartphones. So you’d probably add an average of about £180 for smartphones and £692 for laptops to the total cost of losses incurred due to a home burglary.

It’s also common knowledge that even when your household goods insurer comes to the conclusion that you qualify for a payout, due to something like a home burglary, you won’t get a payout which is equal to the value of the goods you insured. It goes beyond the fact that the value of goods depreciates the moment you pay for them and un-box them — there’s in a sense a sort of fixed payout rate you’d be eligible for which is predetermined as part of the contract you sign when you take out your household goods insurance coverage.

So keeping this in mind, securing your home to reduce your premiums all comes down to how you secure your home. It all comes down to how secure your home really is by way of the risk it carries with regards to the possibility of a burglary. So ultimately, you have to make sure to secure your home properly if you want to reduce your insurance premiums after your evaluation, which in turn comes down to the bare basics of home security, such as the strength of the locks you have installed in your doors and other ironmongery.

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