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Consumers feeling the pinch

Tuesday, June 14th, 2011

Homeowners across the UK are feeling their financial purse strings gradually tightening as inflationary pressures continue to mount. The pursuit of cheaper home insurance, bargain buys at the supermarket, and cut price holiday offers are becoming ever more important for those who don’t want to see a drop in their standard of living.

Retail giants seeing sales slow dramatically

With new inflation figures set to be released by the Office of National Statistics (ONS) today, sales figures released by two of the UK’s biggest retail giants, Argos and Tesco recently, show just how difficult consumers are now finding the struggle to maintain their spending power.

Public buying less food so they can feed their car

Tesco announced this morning that for the second quarter in succession they have missed their sales targets on UK based stores. The underlying trend for stores in the UK that have been open for more than a year came in at -0.1%, this follows a -0.7% drop in the previous quarter and is considerably less than the 0.6% increase they anticipated. Tesco analysts believe that shoppers at their stores have cut back on food items, particularly fresh produce, to counter balance the extra cash they are forking out to fill up their cars at Tesco Fuel Stations. It is becoming more obvious daily that the austerity measures introduced by the government coupled with inflation fuelled price rises are impacting heavily on the general public.

Electrical goods losing their spark

Retail stores that rely on the discretionary spending power of consumers are being even harder hit. The Home Retail Group, owners of Argos, recently reported a drop of almost 10% in like for like sales on the first quarter of 2011 compared to the previous year. The collapse in sales of high value electronic items such as TVs and game consoles was the main factor according to the group’s chief executive.

DIY projects seen as money savers

Perhaps another indication of how the downturn is affecting the general public came from the figures released by the same group. While Argos stores took a beating over the quarter, Homebase DIY another part of the group actually showed an increase in like for like sales of 1.6%. A comment perhaps that homeowners are turning to DIY solutions for upgrading their properties safe in the knowledge they are covered by home insurance rather than bringing in tradesmen to do the jobs for them.

Tags: cheaper home insurance, retail giants, Saving Money, supermarkets
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Disappointing inflation figures set the scene for interest hike

Thursday, May 19th, 2011

After last month’s pleasantly surprising drop in the UK Consumer Price Index (CPI) to 4%, homeowners were once more given cause for concern about a rise in interest rates when the figures for April showed an increase of 0.05% to 4.5%. The figure was just as surprising as the March ones really but altogether more unpleasant.

Worrying times

The prospect of a hike in interest rates has once more been raised and consumers already paying over the odds for fuel, home insurance products and energy will be more than a little concerned.

Economists rewriting their scripts

The drop in last month’s figures coupled with the gloomy recovery predictions from Mervyn King, the Governor of the Bank of England (BoE) had led pundits to believe that the record low Base Rate of interest would remain the same for the rest of this year. They are now revising their forecasts once again with economists appearing in front of TV screens seemingly every day, voicing their opinions.

Been wrong before

November is now reckoned to be the time when interest rates will start to go up but city forecasters have been wrong before and just for an example of how wrong they can be the long term forecast for interest rates in May 2011 by a leading economist in August 2009 was actually 3.5%. That is some way out, and remember in August 2009 we already had rates of 0.05%.

5% the tipping point

Of course if inflation is at 4.5% now, then the predicted increases in energy costs in the autumn may well take them over what many see as the pivotal figure of 5%. Inflation over 5% would really point to the BoE as having lost its grip on the economy and would probably result in an interest rate increase.

Getting house in order now may pay dividends

How many homeowners will try and organise their finances around an interest rate hike is anyone’s guess, but the time may be right for consumers to get a new home insurance quotation if their policy is due for renewal and the same could apply in regard to their energy and home loan providers. Making sure one can manage the essential bills over a period of a few years can take a great deal of stress from the financial management of any household.

Tags: Home Insurance, Homeowners, Interest rates, Saving Money, UK Consumer Price Index
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A cast iron certainty to improve a bathroom

Wednesday, July 28th, 2010

Early plumbing systems for a bath have been documented as far back as far as 3300 BC with the finding of copper water pipes underneath a palace in the Indus Valley Civilization of ancient India. The Roman Empire of over 2000 years ago was famous for its love of bathing. Around 500BC all Roman citizens were encouraged to visit the many public baths on a daily basis. The Romans used marble for the bath tubs with bronze and lead for the pipes, they also created a very complex sewage system for sanitation. In fact the Romans set the bar high for personal hygiene. Bathing was still very popular until shortly after the Renaissance, when it was replaced by the heavy use of sweat bathing and perfume, because it was thought at the time that water may carry disease and infections into the body through the skin.

Cast iron has been used in the manufacture of baths for hundreds of years. A cast iron bath was once very common in the bathroom of a home before being replaced over time by man-made materials. Having a cast iron bath is now very much sought after in bathrooms of home-owners trying to create a contemporary home. Cast iron baths are the original roll top bath, named because of the way the top of the bath curves over. They are similar to a steel bath because they are both immensely strong and very rigid, both are coated with porcelain enamel, and both are very easy to clean and have a long life. The bath is cast from iron in a mould, then after forming the bath shape it is chemically cleaned, this ensures the surface is spotless before applying the enamel coat. A porcelain enamel coating will then be sprayed onto the bath and the entire bath is then fired in a large kiln to give a very strong chemical bond between the enamel and the cast iron.

The bath will not need a cradle or a frame as its strength will allow feet to be cast or bolted onto the body of the iron bath. The feet of the cast iron bath are not normally adjustable because the bath itself is extremely heavy. Because of this, it is important that a cast iron bath is only put on a very solid and level floor. It is very important that checks are made to make sure the floor is strong enough, or the bath may end up in the living room and a claim on the cheap home insurance policy ensues. The clawed foot is one of the most popular types of foot for a cast iron bath. A cast iron bath that has clawed feet is not normally enclosed and is often featured in the middle of the room. This allows the householder to apply some decoration on the underside of the bath and it is possible to get some very attractive designs to highlight the clawed foot bath.

Tags: Advice, Advice for Tenants, Home Insurance, household insurance, Saving Money, tenants
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A tasty way to start saving the planet

Wednesday, July 21st, 2010

Growing your own food is one of the easiest ways of reducing a carbon footprint. There are not many better feelings than snapping off some leeks, pulling a handful of new potatoes or harvesting green beans from the garden. With money still tight for most people, home gardening is a great way to eat affordable and healthy food, as well as connect with nature and have the joy of watching them grow. Leeks are a very easy vegetable to grow and also one of the mildest tasting vegetables in the onion family. Leeks are known for their long stems and are great when used in soups, stews and casseroles, while lettuce is another easy vegetable to grow, and is very popular with gardeners old and new because within 6 weeks of planting, they can be harvested.

Not since The Good Life was on television has the United Kingdom been planting, sowing and harvesting in such numbers. Many people are very worried about food miles while others want to eat more wholesome organic produce, whatever the reason more and more are choosing to grow their own. It is not surprising then, that sales of vegetable seeds have now overtaken sales of flowers. An important job of being in the garden more is making sure the home is secure; make sure all doors and windows are secure in case any opportunist thieves are in the area. Also if you bring anything valuable out into the garden with you while working, contact your household insurance company to check theft from the garden is covered on the policy.

The good news is that anyone can grow vegetables. It does not matter how big or small the plot size; it can be a window sill or a massive garden. Many are doing organic gardening as a hobby that helps them relax. The organic garden has increased in popularity over the last few years, and even though organic food is very easy to get at all supermarkets, gardeners would rather do it themselves. Organic gardening is very satisfying and is done with the use of no chemical fertilizers no pesticides and no artificial supplements during the growing process. Making the compost is so much more fulfilling than grabbing a bag of chemical fertilizer. It is simply using up garden and kitchen waste material. Use potato and other vegetable peelings; add some rose cuttings which will help with the texture.

Organic gardening can give a good sense of pride even if the only space available is a small patch of land. It is even possible to get the children involved in organic gardening, by encouraging them to have an interest in how the food is made. They are sure to have some fun helping with the making of the compost, planting seeds and trying to think up ideas on how to remove any bugs. But most of all, they will love eating all the delicious food that has come from the organic garden. “

Tags: Garden, Garden Insurance, Growing vegetables, Home Insurance, Home Security, household insurance, Saving Money
Posted in Advice for Tenants, Contents Insurance, Garden, Home Insurance, Home Security, Possessions Insurance, Saving Money | No Comments »

Beware the rogue builder

Monday, July 19th, 2010

Finding out that a rogue builder has been hired for a job in the home is a terrible feeling. Months of planning and putting away hard earned cash in readiness for the realisation of a dream, decimated by the actions of a conman.

Thousands of people fall victim to rogue builders every year, they are not just the scourge of households but of the construction industry as well. It is true that they only make up a small minority of those working in the building trade, but that is of no comfort to anyone who falls victim to them. Television shows abound with stories of rogue builders, and not just in the United Kingdom, television shows made in the USA and Canada show the problem is worldwide.

Whatever the job it pays to know how to spot and avoid the nightmare a bad tradesman can bring about. Large building alterations usually mean a large investment, and the dream of a brand new extension or a loft conversion can very quickly turn into a bad dream if a quality contractor to carry out the work is not chosen. Remember this as well, no job is too small for the rogue builder! Even removing a radiator can cause massive problems and if everything that could go wrong, does go wrong, the heating could be down for days, not to mention flooding, which could lead to a claim on the household insurance.

What is the best answer to the question how can I avoid employing poor tradesmen? Spend as much time and energy on finding a tradesman as you can and do not just plump for the first one. Make sure you get at least three quotes, if there is a big discrepancy in them then ask yourself why before you commit to anything.

The house is probably the most expensive item a person will own and so a trustworthy builder should be top of the list when looking for home improvements. Every builder will tell you the best way to get work is through “word of mouth”. This can also apply to the customer and in this era of information at the click of a mouse there are quite a few websites that list both the builder and a rating from the householder.

A good builder will not knock on the front door and say they are working in the area and have a lorry load of tarmac. If they do, be polite and thank them and ask for a business card with contact details. Good trade’s people are always busy so if a builder says he can start tomorrow the chances are that he has got no other work to do.

A rogue builder will probably only have a mobile phone to be contacted on, and no land line number could be the first sign to set alarm bells ringing. Good tradesmen may work from home but they will not be scared to give their number and address out to potential customers. Rogue builders may suggest that paying them in cash will cut the bill. Yes it will, but it also means that there is no proof that they ever did the job. Always insist on a receipt issued on company headed paper.

Tags: Home Insurance, household insurance, Rogue builders, Saving Money
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Top Tips for Home Insurance

Thursday, May 28th, 2009

Do you need to reduce your home insurance premium? Take a peek at our top tips below!

Shop around
- Make sure you get a number of quotes to make sure you’re not paying more than you should be.
- Don’t accept the first quote you get; and don’t think you have to get your home insurance from your mortgage lender – you’re not obliged to!
- Using a site like HomeQuoteDirect enables you to shop around quickly and easily, as you get a number of quotes from different insurers and there’s only one form to fill in!

Only Pay for the Cover You Need
- For buildings insurance you only need to insure your property for the cost to rebuild – not the market value. There can be a vast difference!
- Similarly for contents insurance – only insure up to the value of your possessions and be as accurate as you can be.

Limit the Risk
- If insurers perceive your home to be less of a risk, then the cost of your home insurance is likely to reduce –
  - Consider installing smoke alarms and fire extinguishers to reduce the risk of fire damage
  - Make sure your home is as secure as possible – consider by installing a NACOSS or SSAIB approved alarm system; fit deadlocks to doors etc

Don’t Make Unnecessary Claims
- Think before you claim – many companies now incorporate no claims bonuses into their home insurance (just like they do for car insurance). You may find that it’s works out cheaper to pay for any repairs yourself than suffer a rise in your home insurance premium

Tags: Advice, Contents Insurance, Home Insurance, Insurance for Renters, Saving Money, Tips
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Top Tips to Save Money on Your Home Insurance

Tuesday, April 21st, 2009

Ultimately, when purchasing home insurance, the price you pay will depend on your circumstances (i.e. where your property is situated, your claims history) and the amount of cover you need. It’s also really important that you do not compromise on your home insurance cover just to get a cheaper premium – if the worst happens, you don’t want to find that you’re not covered.

That said, there are a number of ways to save money on your home insurance premium, and within this post we’ll take a look at some of these:

All home insurers provide quotes based on the ‘risk’. Essentially this means they evaluate the likelihood of you making a claim. You can therefore reduce your home insurance premiums by presenting yourself to the insurer as lower risk – examples of how to do this are detailed below:
Reduce the risk of burglary – increased security measures reduce your risk of burglary, and insurers will respond by reducing the cost of your premium, examples include: fitting a burglar alarm, installing high security locks, lighting and so on.
Reduce the risk of fire – fit and maintain smoke alarms.
Increase your policy excess – your excess is the amount that you are willing pay in the event of a claim. If you increase your excess your home insurance premium will be reduced accordingly.
Don’t claim unless you really have to -as with car insurance, many home insurance providers are now also offering no claims discounts for ‘careful’ policy holders (i.e. those who do not make claims). Now clearly there are circumstances under which you may have no choice other than to claim, however we would recommend that you consider the potential increase in premiums prior to claiming; and weigh up the pros and cons. Ultimately, you may find that it’s cheaper to pay for small repairs yourself, rather than claiming on your insurance.Pay only for the Insurance Cover you need…

This may sounds obvious, but make sure that you are only paying for the cover you need. For example, if your are renting a property, you will only need to pay for contents insurance, as your landlord will be responsible for ensuring that the building is covered.

Similarly, if you live in a block of flats or other dwelling where you do not own the entire building, again you may find that the buildings insurance is covered within any service charges which you pay.

Finally, even if you do own the whole building, your buildings insurance policy should only cover you for the potential re-build cost; not the total market value of your property.

Shop around for the best deal…

Make sure you shop around. Many people make the mistake of simply renewing their home insurance with their existing provider without checking out the other deals which are available on the market.

It’s really important to shop around to make sure you get the very best deal on your home insurance. Ideally, you should get a variety of quotes. HomeQuoteDirect is an independent broker, and as such will search their panel of insurers in order to get the very best deal for you.

Tags: Advice, Home Insurance, Saving Money, Tips
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