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Organise insurance well before settling your home

The days of organising your insurance on the day of settling your home purchase are now a thing of the past. Insurance companies are becoming stricter. They may, for example, insist on an electrician’s certificate, to ensure that the wiring is up to standard. More time is now involved in filling out insurance forms. Full replacement policies are gone – you now have to provide specific details on such things as the size of the house and the likely cost of a total rebuild.   You may have to meet with your insurance broker or company.  It pays to get on with organising your insurance as early as possible. It may also be a good idea to talk to the Vendor and find out who insures the property now as the company knows the home and may be the most likely one to issue new cover.

In accordance with the Financial Advisers Act 2008 (“the Act”) this Mortgage Commentary is a “Class Service” and any advice or recommendation contained in it, or on the Capital Concepts website is not a “Personalised Service” as defined by the Act. This means the Mortgage Commentary does not take into account an investor’s particular financial position, financial needs, financial goals, risk profile or asset allocation. Investors who require a “Personalised Service” should contact an Authorised Financial Adviser (AFA).

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