Friday, September 4, 2009

Home insurance tips for Empty Nesters

By Peter Youngwood

Children leaving the nest can be a time that leaves you feeling relieved or saddened. Life, as you know it, will change significantly. Whilst understandably this time brings mixed emotions, it may also bring fresh opportunities.

The change in circumstances will probably alter your personal insurance needs, including home insurance. Let's take a closer look at how your needs may change:

Review the value of your possessions - Heirlooms, antiques or art may have increased in value since you purchased them, and so it may be appropriate to get them re-valued. Belongings you have worked hard for merit to have the right level of security.

Re-assess the price of your possessions - Antiques, heirlooms or art may have amplified in value since you purchased them, and so it may be appropriate to get them re-valued. Possessions you have worked hard for deserve to have the right level of protection.

Eligibility for a discount - If your children are students you may be eligible for a student discount on your home insurance. Alternatively, you may be entitled to some senior discounts, and it is always worth checking what is available in your situation.

Down-sizing - If you are downsizing from a large family home to one which better suits the occupancy, your home and buildings insurance needs will indisputably alter. Re-assess your policy to make certain you are not paying more than you have to.

Re-assess the value of your possessions - Antiques, heirlooms or art may have increased in value since you purchased them, and so it may be appropriate to get them re-valued. Possessions you have worked hard for deserve to have the right level of protection.

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