Home insurance less expensive in low crime areas
Published: 17-Apr-2008
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Home buyers, including buy-to-let landlords, will find that house insurance tends to be cheaper in areas with good neighbourhood watch schemes in place.
That is according to Miles Shipman, commercial director at Rightmove, who said that "location has always been particularly important" when buying a property.
He maintained that in areas with good neighbourhood watch schemes, it is likely that the number of insurance claims are lower and as a result, the cost of home insurance in these areas is cheaper.
However, Mr Shipman went on to say that a low crime level was a more important factor when investing in a property.
He commented: "Cheaper house insurance is one reason to buy in an area but the main driver is that people would know that it's probably a low-crime and more traditional area."
Neighbourhood watch schemes are valued by 74 per cent of people, according to recent research from Yorkshire Bank.
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