Crime Maps May Result in Growth of Home Insurance Premiums

Crime maps, which depict the crime level in the streets across Great Britain, have recently been launched.

They are believed to be a great tool for UK house insurance companies to check the statistics and adjust insurance premiums.

Home Office ministers for some reason believe that publication of these maps will have little or no effect on home and contents insurance premiums as well as on house prices.

Most property experts, however, agree on the opposite. In their opinion, crime maps will result in property valuations coming under increased scrutiny. Property values are already affected by neighbourhood status.

At the moment, it is still unclear to what extent British insurers will use crime maps to determine the risk factors and raise cover prices. However, the fact that this data will be used to adjust premiums is unquestionable.

Home insurance rates currently available from UK providers can be checked on online comparison sources.