If you still believe the safest place for your cash is under your bed or at the bottom of your drawers, you are not alone. In fact a large proportion of Australian home owners still do the same.
A study conducted by financial services website, artog.com.au revealed that more than half (52%) of respondents admit to hiding their most valuable possessions at the bottom of their underwear drawers. About 11% said they keep their valuables in the freezer and 20% reported keeping it underneath their beds.
The report also highlighted Australian homeowners' relaxed attitude towards home security. About 54% revealed they could easily break into their house without a key.
Artog's general manager, Kevin Sherman said the study shows majority of Australians are not taking their home security seriously and probably making it too easy for burglars to break in and raid their valuables.
"This survey should ring alarm bells for any Australian who does not have adequate home and contents insurance," said Sherman. "If you insist on leaving your valuables in an underwear drawer, the freezer or under your bed, you are asking for trouble."
Sherman urges homeowners to be more vigilant and take precautionary measures to ensure they are adequately covered. Even with security systems in place, 56% of people in the survey have had their belongings stolen or been broken into in the last 24 months. "If the reason you don't have home and contents insurance is because you can't afford it, there are companies that offer extremely affordable policies," added Sherman.