Home Burglary - The Hidden Cost!

Being burgled could be one of the most devastating things that any homeowner will ever have to go through and it’s not just due to the loss of valuables, there is also the aftermath to deal with. Even when you have home insurance there are many hidden costs which many people would not even consider, unless they too have been through this trauma themselves.

So what should you expect after a home invasion that you may not have considered previously?

Insurance

• Excess - Depending on how much your excess is this could be a substantial amount of money, which you will have to pay yourself.

• The following year’s premiums are highly likely to increase substantially following a home break-in and will increase each year incrementally.

Replacement Goods

• You may not be as insured as you think you are – most companies deduct the value of items remaining from your insured amount. Frequently the figure left is not sufficient to cover the items lost, usually because the homeowner never fully realises exactly what the value of their contents is.

• Unless you have specified valuable items separately in your insurance policy, it is unlikely that you will recover the full replacement amount for expensive individual goods.

Window and Doors

• It’s possible that your insurance company will not want to pay for the best quality replacement windows, doors and locks – in order to feel secure in the future, you may find you have to top-up the insurance allowances from your own pocket.

Time off work

• Sorting and identifying what you have lost and making police statements could mean time off from work.

• Clearing up your home after a burglary could take you a good deal of time, as some thieves take pride in how much devastation they can leave behind.

• Someone has to supervise the workman fitting the replacements – more time off work.

• You may have to make court appearances if the perpetrator is caught or spend time at the police station checking recovered goods.

Cleaning costs

• You may find you have to get a specialist cleaning company in – most people have absolutely no idea what a burglar is capable of doing to their home!

Identity theft

• Unfortunately, burglars are often as equally interested in your paperwork as they are in your valuables – never leave passports, passcodes or credit card numbers lying around. You may think that your credit card company will reimburse you – it’s unlikely that you will recoup all losses.

• You may spend a great deal of time notifying relevant banks and authorities of your losses.

• The repercussions of identity theft can come way after the original incident – you may be taken totally unawares and have the hassle of dealing with the authorities all over again.

Psychological

• Never underestimate the trauma of a break in. Dependent on circumstances you could find yourself needing time off work to recover or even have the cost of counselling to deal with.

Sentimental value

• Some things are simply irreplaceable – you may not be able to put a price on some things which are treasured memories of past times. The cost is still there emotionally but it can never be recovered.

Future cost of protection

• Until you decide how much future security you require, in order to feel safe in your own home, you won’t know the cost of protecting yourself.

In real terms, much of the above can potentially be avoided by making sure that your home is as safe and secure as is possible, right from the start. Fitting superior quality doors, windows and locks is the first thing any new home owner should do.