Be Sure To Understand How To Obtain Insurance Correctly
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Make sure there is no compulsory purchase of an associated product such as buildings and contents insurance or mortgage payment protection insurance. 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. Other expenses which can be claimed against tax, include:
A) Utility Bills – such as water rates B) Advertising Fees – incurred when trying to find appropriate tenants C) Letting Fees – such as those incurred by the use of a letting agency D) Insurance – such as buildings insurance, house insurance and contents insurance E) Maintenance Costs – such as gardening and cleaning costs F) Repairs – such as general maintenance repairs.
Maybe this would be a good time to check that you’re not paying too much for car or contents insurance. 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 neighborhood, so you may also want to check and see if this has gone up or down also). Home contents insurance covers almost everything else you would take with you if you moved house. 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. You will now need to swap over names on water and electricity bills and get yourself some building and contents insurance. If you have home contents insurance then you are insuring your personal property for the replacement cost of buying the same thing new.
Security is an important part of saving money. Legal problems, late fees, and hookup fees are all unnecessary expenses. Therefore you should also make sure that your property taxes, water bill, and such are all paid up. Look into building insurance as well as home contents insurance to protect your property’s physical construction. Spending a little money on insurance now can save a lot of money later if you find your property has developed a serious structural problem.
Most companies will have office and contents insurance, employer and public liability insurance. TIP: Consider separate buildings & contents insurance if you need both buildings and contents insurance, get quotes for separate policies for maximum potential savings. It would also be wise to get home and contents insurance too. Don’t forget to organize property and contents insurance. Lenders will offer better discounts, fixed rates or cash backs if you are prepared to take the lenders building and contents insurance. You will also be protected in the event of a claim on your home and contents insurance, knowing that your maintenance is up to standard.
Common bills are council tax, maintenance, buildings and contents insurance, amenities (to include electric, gas, water and telephone). CeMAP training also covers the different types of insurance that the borrower may need, for example life cover, critical illness cover, or even buildings and contents insurance. Most insurance companies will give you up to 10% off your contents insurance if you have these kinds of locks fitted.
Insurance policies like buildings and contents, life and mortgage payment protection to include some. HINT 2: Just pay for as much home insurance you must have by figuring out a correct amount for buildings and contents insurance value is confusing, which is the reason most of homeowners either are under insured or pay for too much insurance. A good thing to do is put your cell phone on your home contents insurance policy .
Susan Reynolds is the content coordinator for a leading South African Insurance Provider who specialises in Household Insurance Options.
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