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Clever
payment cuts
The credit crunch has turned into full blown recession,
and one of the most important things you could do right now is to
make sure you cut down your outgoing cash. In times of recession,
people typically jettison payments they deem unnecessary- gym memberships
are cancelled, pet insurance may go.
But there are some payments that are essential even
in these hard times. One of the most important of these is home
insurance.
Most mortgage providers will not even give you a
mortgage without buildings insurance for your home, which reflects
just how important it is. Buildings insurance protects your home
from physical damage by fire or flooding. Contents insurance is
not compulsory by law but it is essential nonetheless. Contents
insurance protects your possessions and things like furniture
from things like theft, fire or vandalism.
One in three people in the UK will experience being
burgled in their lifetime, and it is not a pleasant feeling. In
these harsh times could you honestly afford to replace all of
your possessions? Contents insurance ensures you can have the
peace of mind to know you will not be out of pocket.
Home insurance doesn’t have to cost the world;
there are a variety of policies to choose from with varying degrees
of cover. There are three types of cover: new for old (where your
old items are replaced with brand new items), indemnity cover
(where you only receive the current value of your possessions),
and add-on cover, of which there are several types (‘all
risks’ covers you for items taken outside your home). Once
you have chosen and compared prices for your level of cover, you
could also consider putting approved locks on your doors and windows,
and installing a NACOSS standard burglar alarm. Those two measures
alone should take around 12.5% off the cost of your payments.
Don’t just go with the cheapest insurer available-
an insurer with a good reputation makes a big difference, so ask
around for the recommendation of friends and family, and check
online in forums on sites like moneysavingexpert.com, where you
can also compare the best deals online. These days there are specialised
types of insurance for everyone from students to the over fifties,
which companies like RIAS offering home insurance at excellent
discounts for more mature customers. The key to saving money is
not to abandon insurance- it is to find the best deals possible.
For competitive, ethical home
insurance policies, try the Co-Op.
Condo Living West (www.condo-living-west.com)
contains information relating to new condo developments in the
western United States. From new condominium towers to residence
hotels to luxury homes and to high end high-rises, Condo Living
West is your source for all pre-construction and new condo towers
in the western US states. Please note that this is not a solicitation
for sale. This website is not affiliated with any real estate
developer, real estate marketing team, condo development or realtor.
The content on this website may not be 100% accurate and we do
not accept any responsibility for misrepresentation or misinformation.
All website content is provided by contributing real estate investors
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