After a break-in occurs, there are various details that need to be sorted out. How did the burglar enter the home? Have the police been notified? Have you installed home security to combat a future break-in? Are you properly coping with the trauma of the event?
Among the details that need to be covered following a break-in, is how much money worth of home items was taken. Hopefully you have an inventory list to properly track what was taken, but stolen items aren’t the only cost to your home. Here’s what else you need to know.
What the Burglary Stats Tell Us
The FBI Uniform Crime Report tells us that a burglary occurs every 18 seconds. This leaves ample opportunity for any of us to be a victim. The FBI also reports that in 2014, burglary victims lost a total of $3.9 billion. That’s a lot of property.
Aside from the physical items that have been stolen? What other costs can homeowners expect following a break-in?
Home Insurance Deductible
Many home insurance companies provide discounted rates for homeowners who have installed home security equipment. The discounts range from 5 to 20 percent depending on the provider.
If a break-in occurs, however, homeowners will likely have to pay the deductible. This ranges anywhere from $250 to $1,000, and it is also possible that insurance premiums increase following the event. This would mean an added permanent increase after the burglary. Everything will depend on location, policy coverage, and deductible amount.
Pay Out of Pocket
If you don’t have an insurance plan that covers the cost of stolen items, you’ll have to pay out of pocket to replace them.
Even if the home insurance company does cover the cost, they often replace items for the price they are valued at now. The television that you bought in 2009 might have been worth $600 then, but if it’s price has dropped to $150 in the current market, you’ll only get the dropped down price.
This marked down price likely won’t cover the cost of new items. Also remember that the burden of proof is on you as a homeowner. You must be able to prove that you owned the items that were taken. This can be done with an inventory or other property tracking system.
How did the burglar enter the home? Did he use the front door? Were any windows or doors broken? Does the home have any damages?
These damages that occurred during the break-in will have to be payed for. Homeowners will have to repair broken doors, replace windows, and cover any other costs that occurred during the break-in.
Personal Injury and Time
It’s common for homeowners to have to take off work to square away the details and problems that arise following a break-in. For many victims, taking off work means losing out on money they need to cover the home.
Other personal needs may be costly as well. If any injury or trauma occurred, medical expenses will need to be covered as well.
Secure the Home to Avoid these Issues
While these issues may seem alarming, it’s worthwhile to know what kind of problems and costs may arise following a break-in.
The best way to prevent a break-in is to stop it before it ever happens. Burglars are 60% percent more likely to avoid a home that they know has home security equipment. The first step toward prevention is protecting your home.