• If you own a home, you need to get it insured. Here’s how to go about it.

    Basically, there are two types of home insurance. One type covers the property and the other covers the contents of your home.

     

    1. Building Insurance 

     

    Typically, buildings insurance covers fire, flood and any other disaster that may hit your home. It takes care of any damage that may be caused to your home and the fixtures and fittings therein. The amount of buildings insurance cover you need will depend on the cost of rebuilding and renovating your home (not its current market value).

     

    When you get a mortgage, the lender will use the valuation report to determine the property’s rebuilding cost. They will then use this to determine how much building insurance you need.

     

    At times, such malicious acts as vandalism may be included in your buildings insurance. Exclusions generally include terrorism and the usual wear and tear. Therefore, you should read the small print before you get this insurance type. If you are new to the UK property market then please understand all of these facts as fully as possible.

     

    1. Contents Insurance 

     

    Contents insurance covers all the belongings in your property. These belongings include electrical appliances, furniture, works of art, kitchen equipment, among others. It also covers the items in your garden, carpets and curtains.

     

    This kind of insurance pays out if your belongings get damaged by flooding or fire or if they get lifted during a burglary. Since you have to pay extra to cover such high- risk expensive items as laptops and cameras, it may be better to insure these individually. Some contents insurance policies also limit the amount you can actually claim for single items to around £1,000. Of course, not all contents insurance policies cover accidental damage.

     

    Calculating Premiums 

     

    Most insurance companies will use your address while working out the premiums you need to pay. If you live in an area that is prone to subsistence and crime, then you may have to pay higher premiums. Similarly, if your area is prone to flooding, the insurance may charge high premiums.

     

    Cutting the Cost 

     

    To ensure you pay less for your cover, find out if you can opt for higher excesses. An excess is the amount of a claim that you have to pay on your own. You can also install a smoke alarm, increase security in and around your house and buy the contents and buildings insurance from one provider.

     

    Buying Insurance Cover 

     

    Shop around to look for the best policy available. Online comparison tools and actual brokers can help you locate good home insurance deals. Check out what different companies are charging and see if you can get a discount before settling for any given insurer.

     

    Making a Claim 

     

    Finally, always make sure that you notify your insurer the moment something goes amiss. For instance, after a burglary, tell the insurance company what happened and quote the incident number that the police assigned to you. As far as possible, ensure that the information you provide is true and accurate. Read the small print on your insurance policy to make sure that you are covered for the risk that you wish to be compensated for.

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  • Blog

    Moving To The UK? Here’s An Overview Of The Property Market

    By reading all of the latest stories in the press you get the know-how on who is selling, where prices are at their best and a better understanding of the market. There has been a increase in demand of property over certain regions across the UK for specified type of property. The Apartment market is looking to meet consumer objectives. The market for condos in the UK has gained popularity over the years and it is evident that it is not about to change. Though there has been a slight decrease in demand, they are still a considered an option by a larger target market.

    Why Apartments are gaining popularity

    - They offer a more affordable housing option.

    Apartments are more affordable as they are designed to occupy less ground space while at the same time ensuring that the numbers of rooms are more. This has led to the increase in demand as even younger individuals can afford. Whether you are opting to rent or buy a home, this option is cheaper as opposed to buying or renting a single family unit.

    - They are convenient.

    Apartments are designed to be convenient as they built to be close to all basic needs. In this, living in a Apartment in the UK will be close to health facilities, stores and retail outlets as well as education facilities. In addition, costs related to repairs and damages are shared by the estate agent in question and the tenant. In this, you are guaranteed a simple and relaxed lifestyle.

    - They provide an all in one efficiency.

    Efficiency is indicated in the building and design of each Apartment. Thje design that comes with each Apartment enables individuals the ability to access more than the basic needs within the condo. In this, you will notice social amenities and other luxury to-go-to place that are within a condo. Whether you love sports or are simply relaxing, there is no need to travel far. All these services at affordable rates yet you are still around home.

    - They offer diversity

    Apartments in the UK are diverse and they offer basic homes as well as luxury which are attracting retirees who are looking for something simple and outstanding yet they can still socialize. Many couples at this age have o dependants and their children are off with their families.

    While the property market takes a different approach into housing, Apartments are still holding strong into their market share. This is being backed up by the introduction of micro condos. These are being introduced with the aim of occupying even less ground space with more storage facilities yet at even more affordable rates. This has been made possible with the advancement in technology. While estate agents are looking to meet consumer housing objectives, the ability to purchase has to be a major factor to consider. Look out for more and better housing options in the UK without having to empty all your life savings. You can now explore the options on the provided listings online.

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