| |
4 Things To Remember When Renewing Your Home Contents And Home Buildings Insurance By Joseph Kenny Each year when our renewal notices come through the post for our home contents insurance and/or home buildings insurance, most of us automatically sign the form and send it back to the insurance company – after all, we already know how much the premiums are going to be. Big financial mistake, and here are 4 reasons why:
Did You Buy Anything New In The Last Year?
If you bought anything new in the last year, say a new television or video recorder, then the value of this new purchase will not be included in the renewal notice you just sent off to the insurance company. Likewise, if you sold anything of value over the last year, and have not informed the insurance company, then you are paying home contents insurance for something you no longer own. Either way, your not paying the right amount of insurance premiums.
Did The Costs Stay Static?
If you have home contents insurance then you are insuring your personal property for the replacement cost of buying the same thing new. On the other hand, part of your home buildings insurance should cover the cost of labour and materials. Now ask yourself, would the cost of replacing the picture hanging in your living room be the same today as it was last year? If the answer is that it would cost you more, tough luck, you’ll only get paid out what you said the cost of replacing it would be! The same can be said of your friendly builder, would he charge you the same for an hour of his time and for his materials today as he would have done last year? If the answer here is no, then you should be expecting to pay him the difference.
Did The Value Of Your Home Stay The Same?
Similar to the above, with your home buildings insurance
Coming soon to a private blog near you... I have made the decision to go private with my blog. This will be the last public entry. I have... How I spent my Memorial Day weekend Frank is working tomorrow and we were so looking forward to the perfect Sunday. The coffee and paper on the... He did it! Frank graduated today from the Yale School of Nursing with his MSN. We are all so proud of him.... Hail! It was hailing today in my town...and I mean the sky is falling down hail. I haven't seen it... My First Mother's Day Happy. Lucky. Ecstatic. Blessed. Happy Mother's Day to my Mom. To my friends who are new Moms. To my friends... Been a busy week! We are finally back into the swing of things, post-holiday. Frank finished classes on Monday. He just has a few... What a week! Thanks to all of you for your well wishes to Frank. He is fine and not having any side effects... 35-year-old white male presents to the ED following MVA car vs. Peterbuilt That was Frank today. Yes, my husband had an accident with a Peterbuilt truck. You know. Just to stir things... A request for prayers Some of you are of the praying kind. I have an online friend whose son is really, really, really ill.... Julia's First Passover Passover has been my favorite holiday since childhood. And I have always looked forward to the day that I could... How to procrastinate when you don't want to clean for Passover, but you have to anyway.... Scammed from Wonder Mom... Accent -- Rochester, NY. The a's and the o's are very crass. Like Eeapple for Apple.... Eight Months Old Julia turned 8 months yesterday. She is just the best little girl in the world. She has started standing next... Spring Fever! Now that the colds are gone it seems as though we have been infected with Spring Fever around here. After... Second colds Or maybe this should be titled subsequent colds. You see, Frank and I now have the cold. It was only... First cold Julia has her first cold. It is a big bummer. Poor, poor little baby. If we all got about three...
you need to be asking yourself whether or not the value of your home stayed the same this year as it was last year? You need to be asking yourself this question even if you didn’t do any work to the house – such as building an extension – that would naturally automatically add value to your home.
Is Your House Any Safer Today?
Here the question is, have you done anything to your house over the last year that would mean your home would be considered safer today than last year? For example, did you add any deadlocks to your doors or windows? If so, then there’s a very good chance your home contents insurance premium would be reduced, as the security in your house is a major consideration in assessing your premium (along with the crime rate in your neighbourhood, so you may also want to check and see if this has gone up or down also).
Keep in mind that time stands still for no man. As such, you need to read your home contents insurance and/or home buildings insurance renewal notices very carefully to make sure that they reflect, as accurately as possible, your life today and not your life of yester-year. Joe Kenny writes for the UK Loans Store where you will can compare loans and offer more information on secured loans and other loan topics available on site. Visit Today: www.ukpersonalloanstore.co.uk
|
|