Over 1.5 million homes in the UK are dependent on heating oil, the majority of which are in rural areas. Theft rates of such tanks are rising due to the elevated costs of oil.
The cost of the fuel has risen by 70% in recent months, encouraging thieves to use new extreme tactics to successfully steal from isolated homes. Police have advised homeowners to fit padlocks on their tanks and consider installing alarms.
Not all insurers will cover theft of petrol, diesel or heating oil as not all sheds and outbuildings are covered, to prevent theft happening in the first place neighbourhood watch advises to:
A standard 1000 litre tank of domestic heating oil costs around £600 and is easy for thieves to shift. Chancellor George Osborne is considering cancelling the increased fuel duty that is expected to activate in April of this year. Considering that oil prices and VAT have increased it is more important than ever to protect your oil store.