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Neighbourhood watch schemes could reduce cost of home insurance
March 8, 2011
By Caroline Johnson

New figures showing the growth in involvement in Neighbourhood Watch Schemes have prompted a reminder that such initiatives could help lower the cost of home insurance.

New research from GoCompare has found that the number of people involved in Neighbourhood Watch Schemes has risen by 30 per cent since January 2009. There are now 165,000 Neighbourhood Watch Schemes in the UK, with nearly 25 per cent of households being involved.

It is thought that the increase could have been be prompted in part by the fact that internet-based schemes are now available such as Online Watch Link system (OWL), which includes an online community and crime prevention updates and alerts.

Phil Paterson-Fox, GoCompare's head of home services, said that Neighbourhood Watch Schemes could make home insurance cheaper. He commented, "Insurance is there to cover you if the worst should happen but we would always advise home owners to take action to prevent and deter crime, rather than rely on their home insurance.

"Nothing can make up for the emotional stress that can be caused by burglary so if these numbers are reflective of communities increasingly pulling together to prevent crime in their area, this can only be a good thing."

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