The worst 20 postcodes for burglary claims

Read on to find out where the worst postcodes for home theft insurance claims are in the UK. And find out how you can cut the cost of your cover.

People who live in London are more likely to make a claim for theft on their home insurance than any one else in the UK, research today revealed.

The capital is responsible for half of the worst 20 postcode districts in the UK for theft claims, according to research by Moneysupermarket.

Topping the list for the highest proportion of theft claims, however, was actually a postcode in Manchester, while Leeds and Bristol also fared badly, each with two postcode districts in the top 20.

The 20 worst postcodes for theft claims

Big, bad cities

It probably comes as no surprise that major cities and affluent areas are a popular target for criminals.

But unfortunately, if you live in an area with a high crime rate this means you are also likely to face a higher price for your home insurance premiums.

This is because all insurance policy prices are based on risk assessment. Insurers calculate how much risk you pose as a potential customer by looking at details such as the location in which you live, the type of property you own and how secure your home is.

Increase security

Insurers often offer significant discounts if you have certain security measures in place.

For example, fitting a burglar alarm could earn you up to a 7.5% discount, according to Moneysupermarket. Always ask your insurer what brand of alarm they recommend, and make sure it approved by the National Approval Council for Security Systems (NACOSS).

You should also replace any old, weak locks on your doors with approved five-lever mortice locks and two bolt locks on your windows. Meanwhile, joining a Neighbourhood Watch scheme, installing security lighting and keeping valuables in a safe could also help bring your insurance costs down and keep your property safe.

Get the right cover

It is important to have the right amount of insurance in place. If you underinsure yourself, your claim may not be covered, while if you overinsure yourself you will pay too much for your premiums.

You also need to think about what cover provides the best value for money for you. For example, do want a basic policy, unlimited cover, accidental damage cover, an ‘all risks’ policy (this covers valuables such as your handbag outside your home)?

Knowing exactly what protection your policy offers will prevent you from doubling up on cover and paying more than you need.

Don’t pay monthly

If you pay for your home insurance in monthly instalments your insurer will charge you interest on top for the privilege, so try to pay for your annual policy in one lump sum payment.

If you can’t afford to pay the entire sum in one go consider opting for a credit card that offers 0% on new purchases to help you spread out your payments without paying interest.

Increase your excess

Your excess is the amount of money you have to pay before your insurer will step in to cover the cost of your claim.

If you can afford to increase your excess your insurer is likely to lower you premiums. However, it is vital you ever increase your excess to a level you can’t afford or you could find yourself in serious financial difficulties should something happen.

Shop around

Finally, as with any insurance policy it pays to take the time to shop around and compare a range of prices. Using an online comparison site is one of the easiest and quickest ways to do this. Remember to check you are comparing like for like deals, and find out if it will be cheaper for you to buy your contents insurance together with your buildings insurance. It’s also worth keeping an eye out for cash back deals.