Burglary risk 70% higher for renters
Claims data from RACV Insurance shows rented properties are 70% more likely to be burgled than owner-occupied homes, highlighting the risk to uninsured tenants.
RACV Insurance GM Susan Allen attributes the trend to “lower security levels in many properties and the concentration of rental property in inner-city locations”.
Despite the lighter security protection of some rental homes, a survey by personal lines insurer AAMI last year found just 57% of tenants have home and contents cover compared to 98% of homeowners.
Statistics from RACV Insurance reveal 37% of tenants claim they can’t afford contents cover while 31% say they don’t have anything worth insuring. A further 31% say they don’t buy cover because insurance is too hard to organise within a shared household.
An honest 18% of those polled say they can afford to buy cover but prefer to spend their cash elsewhere.
RACV Insurance GM Susan Allen attributes the trend to “lower security levels in many properties and the concentration of rental property in inner-city locations”.
Despite the lighter security protection of some rental homes, a survey by personal lines insurer AAMI last year found just 57% of tenants have home and contents cover compared to 98% of homeowners.
Statistics from RACV Insurance reveal 37% of tenants claim they can’t afford contents cover while 31% say they don’t have anything worth insuring. A further 31% say they don’t buy cover because insurance is too hard to organise within a shared household.
An honest 18% of those polled say they can afford to buy cover but prefer to spend their cash elsewhere.