A rise in burglaries in the South West has prompted an insurance warning as inflation continues to increase.

A release of new figures by the Office for National Statistics has revealed that residential burglaries have risen to 11,641 in the last 12 months in the region. William McCarter of insurance broker Lycetts, is now urging householders to take stock of their insurance cover.

William said: ‘The cost of living crisis, combined with the increase in value of such items as jewellery due to inflation, risks incentivising thieves. This has been exacerbated by the onset of longer nights when police typically report spikes in burglaries, with the cover of darkness making it easier for thieves to operate.

In such a climate, people may consider cutting corners on their insurance to make savings. However, this is fraught with risk and can lead to considerable financial loss.

‘Equally ill-advisable is choosing to let your insurance lapse entirely – such a decision could adversely affect your risk profile.’

William further stressed the importance of reviewing policies on a regular basis during periods of rapid inflation, rather than just at annual renewal and highlighted that it is the policy holder, not the insurer, who is responsible for ensuring sums insured are adequate.

William added: ‘All too often, attempts to make short-term savings will result in long-term financial loss. Those considering amending their policies should always seek specialist advice before making any decisions.’