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The cost of a burglary

018th April 201720th December 2018
By Oakwood Mortgage ServicesIn General

Figures have revealed that burglary costs the average homeowner over £2,800 in stolen valuables and almost £600 to pay for damage caused by the break-in.

There were 713,000 domestic burglaries in 2015, and while you may see many of these reported in local newspapers you rarely hear about the cost to victims.

Fixing the damage

The damage burglars can cause during a break-in results in costs to repair doors, broken locks and windows, and damage to furniture.

Then there’s the cost of replacing stolen items – particularly jewellery, money and wallets, which tend to be the most desirable items to burglars. But it’s not just the intrinsic cost of these items; sadly the sentimental value can never be replaced.

Computers, cameras, watches and mobile phones are also desirable to thieves. Generally speaking a flagship phone will cost between £500 and £600 to replace and a digital camera between £100 and £250. But again it can be hard to account for the emotional cost of lost pictures and videos.

Protecting your home

Adding security devices to your home will help reduce the chances of your treasured possessions being stolen and give you and your family peace of mind. Installing a burglar alarm or external lights can help deter would-be thieves and you can buy timer switches that turn internal lights on and off while you’re away.

You could also consider upgrading to more secure locks on doors, windows, garages and sheds.

Getting the right cover

According to research carried out by the Association of British Insurers (ABI), one in five households could be underinsured because they don’t know how much their home contents are worth. If you’re unlucky enough to have to make a claim, having insufficient cover could leave you facing an unnecessary bill at a time when you and your family are struggling to deal with the disruption and worry caused by a break-in.

Here’s how to calculate the value of your contents:

  • go through each room (include your attic, basement, shed and garage) and make an inventory of all your possessions
  • file your receipts, or go online to work out the cost of each item
  • tell your insurer about any expensive items you own to make sure they are covered
  • contact your insurer to make sure new purchases are covered

Review your cover

Your home and contents insurance should be sufficient to repair any damage and cover the cost of stolen items. It makes sense to review your cover, especially after Christmas or birthdays when you may have bought or received expensive items.

If you’re concerned you may not have the right type of contents cover, or you think you might be under-insured, please talk to us.

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Oakwood Mortgage Services Ltd
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Sharon Price
Sharon Price
15:30 12 Aug 20
In these current times Stuart has assisted me with a temporary solution to my mortgage issues which went very smoothly. I will be working with Stuart again very soon to change mortgage product completely. Thank you Oak wood Mortgage Services
Ben Brown
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I would like to say a huge thank you to Oakwood Mortgage Services and in particular to Richard Burley who seems capable of working miracles, particularly when dealing with the complicated applications of a sportsman. Richard’s calm manner and problem solving have been brilliant over the years and allowed both Katie and I to stay relaxed and in control during stressful house buying moments, as well as helping us to navigate the the complex buy-to-let market! We owe a huge debt of gratitude to Richard and Oakwood mortgage services ahead of moving house next week, and I would highly recommend their services. In particular I would recommend them to other sports people who have previously struggled with mortgage companies based on our short contracts and the potentially volatile nature of our work. Thanks again Richard. Ben and Katie
Gwenie Ralph
Gwenie Ralph
20:57 06 Jul 20
I gave Stuart at Oakwood Mortgage services a challenge of finding me an impossible mortgage. I knew I wouldn't get exactly what I wanted, but he came up with some nice surprises. He explained everything, not pushy at all, a friendly and professional approach. Thank you
nicky Myers
nicky Myers
19:17 25 May 20
We were first time buyers and dealt with Richard around the mortgage application. He helped us understand each process, explaining everything thoroughly and came to meet us twice where he was very personal and efficient. Dave took us through the building and contents and life insurance process, again coming to meet us in person and took us through the options, step by step. Dave was very communicative and answered any questions we had.Emma was there throughout this process and on hand with any urgent queries we had and was a delight to deal with.They managed to make it all happen, even during lockdown!Highly recommend Richard, Dave, Emma and Oakwood. We are very happy in our new home!
Daniella Castro Gouveia
Daniella Castro Gouveia
11:31 19 May 20
I have worked with a number of the Oakwood team over many years and they are all excellent and totally professional at what they do. Dave came to our family home a few years ago to discuss and advise us in terms of financial insurance. He was very knowledgeable, really easy to talk to. Sometimes discussing financial things can be quite tricky to understand, but I felt at complete ease with Dave. I would highly recommend speaking to him if you need insurance or even need a mortgage as he covers both areas. Thanks for all your support Dave. It's always good to have someone who has your back!
Richard Craven
Richard Craven
19:12 03 May 19
Stuart was excellent, helped me obtain a mortgage quickly and painlessly with minimal effort and was always ready to promptly answer any questions I had.
Andrew South
Andrew South
17:50 26 Mar 19
Stuart was very profession and friendly, He was there to help when something went wrong.Highly recommend!!
Ian L
Ian L
13:45 03 Jan 19
When we started looking for a house, we contacted Stuart based on a work colleague's recommendation. Having not bought a house in the UK before, we had a lot of questions.Stuart guided us through the process and was always available to answers questions and provide advice that was easy to understand.We had a protracted period between initial contact and purchase, in this time Stuart was patient, professional and provided us with a high level of confidence that we were in capable hands.A huge thank you to Stuart and the staff at Oakwood, we would not hesitate to recommend them.Ian and Yoosun
Claire Vince
Claire Vince
22:13 21 Dec 18
Great service. Paul talked us through everything really clearly and made the whole process very smooth and straightforward. We have recommended Oakwood to friends as a result.
Christopher Relph
Christopher Relph
23:27 29 Aug 18
The team is very friendly, professional and knowledgeable on their given subject. My situation was rather unusual and my options were very limited, if i had tried on my own i wouldn't have found the best deal for me. The information provided to me was well presented and insightful, if anything was unclear they made sure that i understood things fully. In the end they found the best deal out there that ticked all the boxes i needed and went above and beyond. To make sure i wasn't put into a position i couldn't afford to be in Stuart would go to an agent and tell them when things weren't possible, even when they were insistent on getting a deal, Stuart had my back in it!I can't recommend them enough, and will be returning to them down the line myself!
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15:35 24 Jul 18
Top notch service. Friendly, prompt and accessible no matter where you are based (I'm in the Highlands). Much better service than that experienced by local face-to-face advisers with a large portfolio of companies that ensure you can get the mortgage to suit your needs. Have happily referred to others in less than usual circumstances, all of whom have come away delighted
Michelle Ames
Michelle Ames
18:20 07 Jul 18
Highly recommend. We were first time buyers and Stuart made the process simple and efficient. We found our property and made an offer on the spot, but the agents needed to speak to Stuart before stopping further viewings, so he dropped everything whilst at a conference and the rest is history. Buying a house is an emotional time, so having the mortgage element handled by a professional, yet down to earth person like Stuart was invaluable to us. Thanks Stuart.
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