ABI - Rise in burglaries makes cutting back on insurance criminal

ABI – Rise in burglaries makes cutting back on insurance criminal

ABI – Rise in burglaries makes cutting back on insurance criminal

With today’s Government figures showing a 4% rise in home burglaries in the last quarter of 2008, the ABI warns that families who are tempted to save money by cutting back on their home insurance should think again.

Nick Starling, the ABI’s Director of General Insurance and Health, said:

“Many families will be looking to trim their budgets as the recession bites, but cutting back on home insurance is a false economy. Last year, insurers paid over 6,000 claims, paying out some £7 million, every week, to burglary victims. Without insurance, becoming another crime statistic could plunge you deeper into financial trouble, from which it may take years to recover”.

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Notes for Editors

1. Enquiries to:
Jonathan French 020 7216 7392 (Mobile: 07958 330 480)
Malcolm Tarling 020 7216 7410 (Mobile: 07776 147 667)
Erfan Hussain 020 7216 7411 (Mobile: 07712 841 184)
Kelly Ostler-Coyle 020 7216 7415 (Mobile: 07968 364 302)

2. The ABI is the voice of the insurance and investment industry. Its members constitute over 90 per cent of the insurance market in the UK and 20 per cent across the EU. They control assets equivalent to a quarter of the UK’s capital. They are the risk managers of the UK’s economy and society. Through the ABI their voice is heard in Government and in public debate on insurance, savings and investment matters.

3. An ISDN line is available for broadcasts.

4. More news and information from the ABI is available on our web site, www.abi.org.uk.