Homeowners are more afraid of being victims of a break-in, spending on average £1,266 on security, despite the fact that the majority of mortgage payments go unprotected.
These are just some of the results from a new survey by LV=, which revealed that 65 per cent of people in the UK consider burglary to be the biggest threat to their home.
In contrast, 49 per cent feel that mortgage payment problems are more of an issue.
Head of protection at LV= Chris McFarlane observed that “it’s a concern” that many are more prepared to protect “the bricks and mortar”, rather than look after the income required “to pay for their home and lifestyle”.
It was also found that 49 per cent believe their homes will be burgled at some point, while 38 per cent are concerned about redundancies and the threat of serious debt.
These results follow a study from Chelsea Building Society, which indicated that money management is not a priority for most people, with just 23 per cent admitting they undertake such tasks.
By Sarah Adie