Installation of CCTV does not mean cheaper insurance
Insurer Norwich Union, is warning that having CCTV cameras installed on your property will not necessarily mean lower insurance premiums.
CCTV is considered as something of a niche product in the domestic market and there is a high demand for the product.
Maplin the electrical retailer, has announced a 70% increase in its sales of security cameras for domestic use over the last 12 months.
More than 90 different security cameras and CCTV kits are now on the market. One of the most popular items is a camera that allows remote monitoring via the internet.
Alison Palmer, a household underwriting consultant with Norwich Union, said there is insufficient evidence as to whether CCTV systems actually deter criminals. Consequently, when calculating insurance premiums, the insurer does not take CCTV into account.
The insurance giant recommends fitting a burglar alarm and locks that have been pre-approved by the insurer.
Furthermore, a small discount is available to those who are active members of a Neighbourhood Watch scheme.
Norwich Union is the biggest life-insurer in the UK and has a strong position in motor insurance. It is part of the Aviva group, created by a merger of Norwich Union and CGU plc in 2000. The organisation is currently the biggest sponsor of UK athletics.