Brits risk policies keeping cash at home

Wednesday, 29 February 2012

Many Brits are risking theft and potentially may not be reimbursed in the result of a crime because they are keeping large amounts of money at home rather than leaving it in a bank account safely.

It could be the case, in the even of a theft, that large amounts of cash which has been stashed in the home is not covered by home insurance policies.

However, the Financial Services Compensation Scheme (FSCS) said that the average Brit is actually stashing around £218 in their home, as well as the money that they carry in their wallet.

"Any cash which is kept at home receives no interest, and may not be covered by household insurance and so could be lost if the house is damaged," Mark Neale, FSCS chief executive told the Independent.

Recently, police officers have been trying to cut down crime levels in Haverhill by offering home security advice, as well as including their presence in the area, to try to deter thieves from striking homeowners in the pocket.

Posted by Noel Martin

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