Income Tax Rates

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:

Discounts - If your kids are away at university you may be eligible for a student discount on your home insurance. On the other hand, you may be entitled to some senior discounts, and it is always worth checking what is available in your circumstances.

You may require a reduced amount of cover - If your children have taken their possessions (such as laptops or televisions) with them when they left, you may require less insurance cover than you did previously. You can switch to a policy that better suits your needs and save money at the same time. Review your insurance policy today and see if you could be eligible for a cheaper policy.

You may need more cover - Research by Datamonitor found that so-called 'early empty nesters' have more disposable income than previous generations and are able to treat themselves to more luxuries and home improvements. Empty nesters in these circumstances may therefore require and extra level home contents cover.

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.

You might require more cover - Research by Datamonitor found that so-called 'early empty nesters' have more disposable income than previously and are able to treat themselves to more luxuries and home improvements. Empty nesters in these circumstances may therefore require and extra level home contents cover to take into account their new belongings.