Stolen James Bond Aston Martin DB5 acts as stark reminder of the importance of insurance

The theft of the iconic James Bond Aston Martin DB5, and its subsequent sighting in the Middle East serves as a stark reminder of why insurance is so important if you are a high-net-worth individual. More information about the theft of the car can be found here.

We also offer some tips on how to adopt a pragmatic approach to the prevention of theft and burglary of your valuable assets.

• Install strong physical locks on all external doors and fit key-operated window locks on all ground floor windows.
• Put in place security alarms that will alert both you and the police if an intruder is detected.
• Before selecting an alarm, check that the supplier is approved by the National Security Inspectorate (NSI) or Security Systems and Alarm Inspection Board (SSAIB).
• Consider installing movement detection devices. Alarms can be set so that you can allow for areas of movement around the home without setting the alarm off, e.g. upstairs when you go to bed.
• Remember to turn on your burglar alarms when leaving the house unattended. Lock all doors and ground floor windows, even when leaving the house for only a few minutes. Burglaries are sometimes opportunistic and take only a matter of minutes to commit.
• Consider using laminated glass on ground floor windows. This will make it more challenging for a thief to enter your property undetected. There’s a good chance the thief will simply give up due to the amount of commotion their entry would cause.
• Keep your keys out of site. Some burglars have managed to acquire keys through letter boxes. Put your keys securely in a draw away from any potential entry points.
• Put timer switches throughout your home so the lights turn on when you’re out at night. Having the appearance of being indoors is usually enough to deter most criminals.
• Installing motion sensor lighting at the front and back of your property acts as an effective deterrent to burglars, highlighting their presence.
• Consider installing external cameras.
• Don’t forget to secure your garage and shed with strong locks. Both will contain valuable items such as bikes and garden equipment.
• Resist the urge to post holiday pictures on social media whilst you are away. This is advertising the fact that you are not at home.

Having the right sum-insured

A pro-active approach towards home security goes a long way towards reducing the risk of burglary. Having adequate home and contents cover will give you added peace of mind that the monetary value of your possessions is covered in a worst-case scenario. To ensure this level of cover is maintained, we would recommend having a three-yearly valuation carried out on jewellery and fine art, as these will often increase in value over time. Most high-net-worth policies will have an extended replacement cost –  this means that the insurer will allow for an increase in cover if a claim is made within three years of your last valuation.

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