Can routine maintenance reduce monthly home insurance premiums?
12/07/2010
Topic: Insurance & protection
The social phenomenon known as Broken Windows was first outlined by criminologists James Wilson and George Kelling in the 1980s. They argued that crime is the inevitable result of disorder. If a home's window is broken and left unrepaired, any passersby would conclude that no one cares about the property - and that there is no one watching the area.
As more windows are broken and left unrepaired, it sends a signal that the area can be mistreated. Graffiti, public disorder and littering similarly invite more serious crime on a symbolic level. Repairing windows, on the other hand, tends to reverse the decline.
The theory has been put to good use in New York. City Police Commissioner Bill Bratton effectively reversed the city's crime epidemic by making use of this approach. In 1994, Bratton famously vowed to transform New York from the most dangerous city into the safest metropolis in the US. He gave his department a limit of two years and refused to increase his budget.
Within his term as Police Commissioner, murders dropped by 64.3% and total crime fell by almost 50%. National polls showed that public confidence in the NYPD leapt from 37% to 73%. Internal surveys showed job satisfaction in the police department reach an all-time high.
Given the UK's social challenges, the Broken Windows theory can be put to good use. Although 2010 police reports have shown that UK crime is stable, homeowners need to remain vigilant. Financial services news publisher Fairinvest.co.uk recently reported that 10% of UK holiday home owners do not have an insurance policy in place. It is these unoccupied homes which are most at risk from vandals.
Can keeping a street or neighbourhood clean save its homeowners money on household insurance premiums? If a well-kept neighbourhood means less crime, then yes. Homes in such areas are less likely to be vandalised or burgled, resulting in fewer home insurance claims. Average home insurance premiums for such areas will commensurately be less likely to rise.
Routine maintenance can similarly reduce the likelihood of additional property damage and the need to submit home insurance claims.
About Prudential Insurance
Prudential is a UK provider of home insurance. Their buildings insurance policies offer protection against vandalism or third party damage. Visit http://www.pru.co.uk/insurance_protection/home_insurance/ for more information or a free insurance quote.
Please note that the above article was written on behalf of Prudential and Prudential does not control and cannot guarantee its relevance, timeliness, or accuracy. The views expressed in this article are not the views of Prudential.
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