Home security becomes top priority for pet owners, willing to pay extra for burglar-proofing

According to a report by the Centre for Economics and Business Research (CEBR), householders in the UK would be willing to invest an average of £95 over the next 12 months to ensure their homes are burglar-proof.

Interestingly, the younger demographic, specifically those aged 18 to 24, are willing to spend more on home security, with an average willingness to pay of £238, compared to just £45 for those over 65.

In addition, pet owners value home security even more, with an average willingness to pay of £113, compared to £55 for non-pet owners.

On the lookout: Pet owners would pay more to make their home burglar-proof – they would fork out £113 on average, compared to £55 for those without pets

The willingness to pay for home security varies based on regional burglary rates. Households in high-risk areas such as London and the North East would pay an average of £113, while those in low-risk areas like Northern Ireland, the South West, and Scotland would pay £75, as per a research conducted for home security system firm Ring.

Owen Good, head of economic advisory at the CEBR, remarked that UK households would collectively spend £2.7 billion per year to ensure the security of their homes.

‘Interestingly, it’s the younger age demographic who are willing to pay the most, potentially as a result of the higher perceived likelihood of burglaries within this group,’ he said.

Last year, an average of 527 homes were burgled each day in England and Wales, with more than half of the burglaries occurring while occupants were present. The average value of stolen items was £1,368, according to data released by insurer Churchill.