Each year, uninsured burglary victims are left a massive £6million out of pocket in the UK. According to a recent insurance survey, nine out of ten households are under-insured.

The average homeowner values their possessions, including furnishings, clothes and personal belongings, at £28,000, while the value of contents in the average home is actually in the region of £30,000 - £40,000. Homeowners are risking a shortfall of at least £10,000 on their home contents. Applied nationally it results in a figure in the region of £250 billion pounds worth of un-insured household possessions.

Research into the average British homeowner’s habits shows that one in four households have no home contents insurance cover. The figure is higher for buildings cover, with one in three homes having no buildings cover. This is generally attributed to the fact that mortgage providers insist on buildings insurance cover.

The reality is that homes are at a higher risk of being burgled than suffering damage from a fire or flood. According to the research, UK insurance companies pay out approximately £3.2billion each year on claims for damage and theft of property, including burglaries.

The top five items replaced in the home after being stolen, lost or damaged are the 32“ Toshiba television, Samsung Laptop, Sony Playstation 3 Slim 120GB Console, Samsung Tocco Lite mobile and the Xbox 360 Elite Console.

The average British woman is more likely to make a household claim than her male counterpart, making a claim every 8.5 years compared to just over nine years. Both are most likely to claim for accidental damage, with the typical claim costing over £350.

The home market saw a decline for the second straight month during May 2010. According to a UK home insurance provider, the average cost of a UK home declined by 0.4% during May, following a 0.1% drop in April.

The property market has continued to slow down during the UK’s recovery from the recession that grasped the country since 2009. The dip in overall home prices was indicative of a slowing market, and all signs point towards a flattening of property prices during 2010. These figures contrast with another UK home insurance provider’s findings, which showed a 0.5% increase in property prices during May. This increase follows growth of 1.1% and 1% in April and March, respectively.

The Bank of England’s recent data concerning mortgage approvals however indicated that the property market has failed to significantly improve its position after a subdued start to 2010.  This is also bound to impact on new home insurance sales. 

Housing economist Martin Ellis stated that "the relative recovery in house prices in 2009 was driven by a boost to demand from reduced interest rates, combined with a lack of properties for sale. These factors have lost some momentum in recent months. Continuing job losses are curbing housing demand, whilst the improvement in market conditions last year has encouraged more homeowners to attempt to sell their property." 

Regardless of the monthly decline of house prices, the annual rate at which properties are growing continues to increase. Compared to 2009 home prices, property prices in 2010 were up by a staggering 6.9% during March, April and May. This is the highest rate of increase since October 2007. An average home will cost prospective buyers £167,570 which is 8.3% more than when prices bottomed out in April 2009, even though they are still 16% below the peak reached in 2007.