Are millennials protecting their homes against burglary? New statistics conducted by leading price comparison website MoneySuperMarket revealed the top locations which best-covered robbery.
The study which ranked insurance policy and burglary gaps across the UK, found Swansea as the top city, followed by Newcastle upon Tyne and Portsmouth.
At the bottom of the pile was Bradford, which the study shows the highest policy/theft gap, with the data showing a low number of policies being taken out by millennials against a backdrop of a high theft rate.
Colchester had the highest claim rate averaging value pay-out of £2,005, while the lowest pay-out was in Plymouth at £800.
The table below shows the average claims per city and the ratio of policy to burglary gap.
Rachel Wait, the Consumer Affairs spokesperson at MoneySuperMarket, commented: “We all try to protect our homes the best we can, but unfortunately burglaries do happen, and they can be a very stressful experience.
“While there’s no way to guarantee your belongings are protected, contents insurance can at least provide some peace of mind that you won’t suffer financially in the event of a break-in.
“It’s good to see that young people in Swansea are aware of how important insurance can be. But those in cities like Colchester, where the value of an average claim is high, and Bradford, where there are comparatively few policies, should consider reviewing the insurance options available to them.
“It’s important to shop around when taking out or renewing your contents insurance, to find the cover that best suits your needs. Check a variety of different insurers and make yourself a new customer every year to see what new savings are available – for example, by comparing through MoneySuperMarket you could save up to 43% on your home insurance.”