Research reveals that 38% of British homes have installed some type of smart home tech security to deter intruders. The average value is estimated at £341 per household, and the most popular devices used are smart surveillance cameras (38%), closely followed by video doorbells (33%).

The research, conducted among 1,000 individuals by Pirnar, also revealed that 15% of households use keyless tools as an access to the home such as keypads, apps, fobs and virtual keys.

About one in four of British homeowners (24%) intend to purchase smart home security in the next 12 months. The main factor behind such an investment appears to be related to improving security, as mentioned by 74%, whereas 26% of households highlighted that of convenience.

Conversely, two thirds are adamant they would still resort to traditional deadlocks as well.

A final point to be taken from the research is that no less than 42% fear that having too much security technology in display might actually have the opposite effect of attracting burglars.

Another fundamental cause arguably is the increasing economic importance of cyber insurance. The Department for Digital, Culture, Media and Sport published a report in April 2019 showing that 11% of UK businesses and 6% charities have a cyber security insurance policy.

John Lewis revealed in May that it will cover insured customers for cyber crime losses up to a value of £50,000. The policy focuses on frauds such as push payment. Home insurance does not currently appear to cover potential risks related specifically to smart home security tech.

Cyber in the home insurance sector gets very little mention by the Association of British Insurers. Similarly, cyber is recognised as a ‘current issue’ by British Insurance Brokers' Association, but with a much greater focus placed on commercial rather than personal lines.

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