There has been a 23% increase in the take up of personal possession cover over the last 12 months, figures from Paymentshield have revealed.
With the number of muggings on British streets up by 8% from last year, Paymentshields figures show that people are really taking action to cover themselves for theft of their personal belongings. But with only 50% of all B&C policies now including this cover option, a large proportion of the market remains unprotected.
Paymentshield is calling on intermediaries to help ensure that people are fully informed about the different cover options available as part of their B&C policy.
Chris Traynor, sales and marketing director at Paymentshield, says: It is good to see that more and more people take up a personal possessions cover as part of their B&C policy. The increase in muggings clearly highlights how important it is to make sure your personal belongings are covered outside the home.
Most people never really realise how much they carry around in their handbags and pockets until they have to count their losses it is not simply a question of keys and a wallet anymore. Items such as iPods, mobile phones, designer sun glasses and handheld computers all add up.
We are pleased to see that more and more intermediaries are advising on and selling this valuable cover to their customers. For as little as 1 a month their customers can make sure they are fully covered should the worst happen.