Beating The Rica

Archive for July, 2011

If you are a landlord or rental property owner, why should you bother about home contents insurance for tenants? Find out how it affects you and whether you should encourage your tenants to buy it.

What Exactly is Home Contents Insurance for Tenants?

Whether it’s due to an accident or act of carelessness, your tenants are exposed to a wide range of possible financial losses. As the name suggests, tenant home contents insurance protects them by compensating for these painful mistakes.

The range and amount of insurance coverage depends largely on the insurance plan and how much premiums your tenants are forking out every month.

Basic tenant contents insurance will cover any losses to your tenant’s belongings due to burglary or fire outbreaks. If your tenant’s possessions are damaged or destroyed, the insurance company will usually replace them with new ones.

The basic home contents insurance for tenants will usually cover their legal expenses as well if it is due to their legal liabilities as a renter.

Just like all other insurance policies, your tenants can also go for additional protection if they are willing to pay more. For example your tenants can choose to be covered for accidental damage to the landlord’s belongings and property. That way the insurance company will be the one footing the repair bills for them.

Your tenants may want to go for the optional cover for home emergencies as well if you live far away from them or you are unavailable to help them out with repairs all the time. For example if the electricity supply is suddenly cut off, your tenant will have someone to help them around the clock.

Why You Should Encourage Your Tenants to Buy Contents Insurance

If you are a landlord, you should definitely encourage your tenants to buy home contents insurance for themselves. Why is that so?

As a rental property owner, rent from your tenants is naturally a vital income source for you. That’s why you have to take steps to make sure that your tenant are able to pay their rent on time, every time.

Major accidents such as a fire outbreak can wipe out your tenant’s savings and toss them into financial hardship. This will negatively affect your rental income and home contents insurance for tenants will be your most effective safety net.

A good number of tenant do not even realise that there is such an insurance policy that is catered for them. That’s why you should take the time to highlight the benefits of buying a home contents insurance when you get the chance.

In fact, some landlords go as far as lowering the rent slightly just to encourage their renters to take on home contents insurance.

Furthermore home contents insurance for tenants are usually highly affordable and cost $12 to $30 every month depending on the amount insured and whether your tenant opted for any additional add-ons.

You can call it an aftermath of the financial crisis that hit the Unites States and the rest of the world or you can simply call it a joke. But believe it or not, Visa debit cards are increasingly becoming popular these days. And ordinary folks are not the only ones taking notice of this trend, as more and more financial companies are starting to include this type of debit card in the list of products or solutions they offer to consumers.

The ever-increasing switch to Visa debit cards can be directly associated to the fact that more people are now literally tearing up their credit cards in an attempt to minimize unnecessary spending. But instead of going back to the Stone Age custom of carrying wads of cash in the wallet, people are opting for Internet debit cards, which functions just the same as ordinary credit cards, except that debit cards do not bring about the same spending temptations as credit cards do. By not using credit, debit card users have a definite limit as to how much they can spend. Therefore, users can have a better self-control when buying things.

This type of Visa debit cards has been around for several years, but it is only now that consumers begin to really consider the advantages that it has over ordinary credit cards. By effectively eliminating the urge to use credit or debt even for online purchases, consumers can put a stop to senseless spending and save more money in the process. Thanks to this type of debit cards, consumers can now do everything they can do with credit cards without the horrible consequence that comes in the form of monthly billing statements.

When choosing Visa debit cards for online use, you should look for virtual cards that offer applicants the convenience of not undergoing credit checks. And if you plan to get this type of card, it would be great if you can automatically get a free good credit rating. Also, if the card you apply for is virtual, you should not experience the drawback of having to wait for days just to receive an actual card. A good virtual card allows users to easily transfer funds into their account and start their online shopping in just a few moments and not weeks. CleverCash.Com is one example of the most recent card payment solutions that offer these conveniences to users.

In a straight comparison of like for like drivers, the fairer sex can expect anything up to

The fact that online money transfer has simplified our lives largely cannot be denied at all. When online money transfer first came into light, it eliminated the need to make cheques and send it to another part of the world through postal services, couriers, etc. On the contrary, users were allowed to perform online money transfer worldwide directly from their bank accounts…that too without having to visit the bank personally.

The best part about money transfer worldwide is that recipient gets the money in a matter of minutes irrespective of the destination. No matter how remote the place where your friends or relatives are, or your beneficiaries are, you can send him his due in a matter of minutes. Most importantly, you need not even have a bank account to be able to transfer money online. A few online money transfer service providers have developed innovative ways to transfer money worldwide. You can simply register in their website, create an account instantly, charge your account with some money, and send the money to the beneficiary. Your beneficiary needs not have an account to access the money. The provider will take care of it.

Popularity that private players have got for online money transfer worldwide has been their rightful due. Apart from instant transfer, one thing that advocates online money transfer worldwide is security. In other words, online money transfer is considered the safest way to transfer money because in case of most operators, the money is constantly tracked via a unique ID. This ensures that not only the money is collected only by the person for whom it is meant, but also its speedy remittance.

Today, you will come across many providers of online money transfer services. With the full advent of e-commerce and spreading out of operations by multinationals across the world, online money transfer worldwide is simply inevitable. Transferring large or small sums of money is a matter of few clicks now, as customers sit in the comfort of their home and do most of their banking online.

Secured credit cards are now offering cash back rewards to their users. The users are getting a loan just like those who have the unsecured credit card. The interest rates are charged and there is a sign up fee even though there is no annual fee or service charge the customer is still charged interest for the use of the card. Many credit card companies are offering special cash back rewards as an incentive for the user to get more customers.

The secured cards are becoming popular in today’s market place with all the advantages the user has and the ability to earn rewards. The credit card companies are now offering the user a chance to earn extra money by getting new customers for them. The residuals can be a onetime offer or in some cases they are giving the customer ongoing commissions for the new customers that they bring in as a secured credit card user.

The secured card user is less of a risk because they need to deposit the amount of money that they are borrowing into a savings account which guarantee’s them the money. Since the money is already in the savings account making the loan secure then the credit card companies are assured that they will be paid. The customer needs to be careful that the amount of interest and other fees does not take most of their deposit. Earning cash back rewards and or getting commission for referrals is a good incentive to get a secured cash back card.

Most people want to compare home contents insurance to be sure that they’re getting the best deal possible. The key to making the most of your home insurance comparisons is to not only compare the price but the policy features too.

To start with, like most forms of insurance, home contents insurance will normally carry an excess. The excess is a financial amount that you would be expected to pay in the event of a claim and it’s sometimes called the ‘first part’. So to compare home contents insurance policies you may need to start by examining the respective excesses. In general terms, the higher the excess then the lower the price of the policy (usually known as the premium) – providing all other things are equal.

Taking the comparison to the next stage requires some thought as to what the different policies include.

Typically a home contents policy will, as the name suggests, cover the contents of the home. This usually includes furniture and fittings, personal belongings such as clothes and ornaments, and most forms of jewellery and electronic equipment. With some policies, individual high value items such as rare antiques, very precious jewellery and high value electronic items may need to be declared separately. Insuring these items may involve additional costs.

The policy may also cover items of furniture and equipment such as garden furniture and tools stored outside or in external sheds. It may also be possible to insure under this type of policy for the loss or damage of personal property when in use at other locations – a good example of this may be the loss of expensive spectacles at the office.

As with all insurance, many home contents insurance policies could come with exclusions and conditions. When comparing between policies, these are also factors that may help a decision.

As an example, not all policies necessarily offer new-for-old cover. In other words, if for example, a five-year-old television is destroyed in an accident, the policy may not replace it with a brand new, current model. Some policies may have value limits for individual items.

Others may exclude certain types of items or goods such as cash or commercial goods for sale that were stored at the home. Items that are someone else’s property, such as an employer’s computer in use in the house, could also face exclusions.

Something else that may require attention is the fact that not all policies view the security of the home in the same way. Some companies may insist that specialist locks and alarms are fitted to doors and windows before some categories of cover are be available. Others may charge additional amounts for properties situated in certain areas seen to be ‘high risk’ in terms of burglary etc.

There are home insurance comparison websites that can help you make the selection process easier by allowing you to not only compare the premiums but some of the major policy benefits too. This means that you can choose the policy that best fits your requirements and budget.