News Article Published:
Tuesday, 18 November 2008
Category:
Insurance
Abbey has used a suggested link between recessions and burglary rates to promote its home insurance product.
The firm said that many people will no longer buy home insurance during an economic downturn to help keep their outgoings down.
However, Abbey has used research from its insurance services arm to convince people otherwise.
It highlighted police figures that showed domestic burglaries in England and Wales rose by more than a third (33.8 per cent) during the last recession between 1990 and 1992, with a similar trend recorded by the British Crime Survey.
"When household budgets tighten and families look to cut back on financial expenditure there are the usual outgoings that people feel they can cut back on," said Abbey's insurance sales and marketing director Thierry Campet.
"Wrongly, many people believe home insurance is one of these. However during these times, protection is increasingly important and should not be overlooked."
Mr Campet added that homeowners may want to seek home insurance policies which cover an "unlimited amount".
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