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Insurance payouts for the cost of crime

Burglary, vandalism, and vehicle-related crime - committed against ordinary New Zealanders homes and cars resulted in insurance claims of more than a billion dollars since 1999.

Insurance Council figures reveal that insured New Zealanders claim nearly $20 million dollars a month to compensate them for the activities of criminals.

The Insurance Council has obtained the figures from the Insurance Claims Register, which is a database recording claims and why they were made.

The figures dramatically illustrate the impact criminals are having on people in their own homes.

"The cost of crime is measured in the hundreds of millions of dollars and New Zealanders must begin looking for solutions," said Chris Ryan Chief Executive of the Insurance Council.

The figures only show the cost of crime on those people who have insurance and don't include those not insured or the many cases where claims are not made, therefore they are very conservative. The cost of crime is far greater.

Insurers are working on initiatives with the New Zealand Police to address the high incidence of crime against personal property in homes and private cars.

 

 

 

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