A large proportion of property in Australia is either uninsured or severely underinsured.

“Household burglary is one of the most widespread crimes in Australia – with around 335,700 break-ins recorded in 2009-10.”

A piece of research by SR Finance discovered that almost a third (31 per cent) of homes have no insurance, while as many as 81 per cent of insured houses are exposed with half-cooked policies. On average, only 70 per cent of the cost of replacement is covered, leaving homeowners with a potentially staggering bill.

Similar sights are seen in business insurance, with commercial property often left exposed to prevalent financial risks.

Theft is certainly one of them. Landlords can often misread the threat of burglary, while home owners may blindly consider the cost of home and contents insurance too high to make it worthwhile. However, theft happens, as the Australian Institute of Criminology (AIC) explained.

“Household burglary is one of the most widespread crimes in Australia – with around 335,700 break-ins recorded in 2009-10.”

Prevention is often better than the cure. Landlords will want to secure their assets and provide tenants with a comfortable living environment, and home owners clearly agree. Here are four ways to secure your property from theft.

1) Keep valuables hidden

It’s not all that convenient to store away laptops, money and jewellery, although they are the three most commonly stolen items, according to the AIC. The NSW Bureau of Crime Statistics and Research even found that these three items made up 80 per cent of all goods stolen from homes in 2010.

2) Heed a warning

The Bureau also found that 20 per cent of all households that have been victims of a burglary were burgled more than once. The lesson here – whether you’re a landlord wanting business insurance or a homeowner – don’t make the same mistakes twice.

3) Secure doors and windows

According to Safewise, 60 per cent of burglaries are via forcible entry, with thieves targeting doors and windows most prominently. Worryingly, 30 per cent of houses are entered without force, through unlocked doors or windows.

There are a range of anti-theft devices out there, and a landlord should utilise as many as feasible. Tenants should also be educated on the need to lock up, whether they’re in the house or out of it.

4) Make friends with your neighbours

There are still few better anti-theft devices than your neighbours. Become friendly with the people immediately next to your property and you’ll have an extra pair of eyes on your precious assets, while giving them your mobile number will help you react to any concerns.

Remember, insurance is still the surest way to avoid significant financial costs of burglary. Speak to an expert at MGA today to learn more.