Australians living alone is, according to the Australian Bureau of Statistics (ABS), the most rapidly increasing of all household types. This changing face of Australian demography is increasing the demand for a simple and affordable solution for managing the challenges of home ownership. Home Owner Cover provides assistance for home owners who for any number of reasons are living alone, reducing their capacity to deal with home maintenance and emergency situations.
More than one quarter of Australia’s 8.6 million households are home to only one person. Furthermore, the percentage of Australian’s living alone is estimated to increase to 91% of the total households by 2031 (ABS). The ABS attributes this expected increase to a number of changing demographics. These include the aging population as life expectancy increases and baby boomers get older. As well as, changing patterns of partnering including delayed marriage, delayed childbearing, increased divorce and the increase in financially independent women.
“When you live alone you have no immediate support network to call on in both an emergency and many maintenance situations. There is less access to knowledge about how to manage the situation and a smaller skills pool to deal with it,” said Pia Vogel, joint managing director of PropertyCover, supplier of unique insurance products for the home.
“It’s extremely stressful when the added responsibility for home maintenance falls wholly on the shoulders of a person who lives alone, particularly if they are also working fulltime.
“People shouldn’t feel isolated when a problem arises in their home. Home Owner Cover is an innovative insurance product which insures the homes major systems, (including electrical, plumbing and locks), and appliances against emergency repairs and maintenance.”
Home Buyer Cover provides up to $1000 per claim, $5000 per year on simple repair or replacement when a covered appliance (up to 8 years old) breaks down. PropertyCover also take care of finding and managing the contractors on the behalf of the home owner. Home Owner Cover is the first of its kind in Australia. However, this kind of home warranty was reported by the Home Warranty Association of California to have come with 90% of houses sold in California USA in 2011. Home Owner Cover is just one phone number for Australian home owner’s to call when a system or appliance breakdown arises.
“Whatever the reasons for living alone, you want to be able to revel in the positives: increased privacy and freedom. You would not want to be preoccupied by your ability to deal with time consuming maintenance issues and unforeseen emergency situations and their associated costs. For sole residencies, Home Owner Cover means a support network, time and money saved as well as the confidence in knowing you are able to manage your own home,” Ms Vogel said.
For more information about PropertyCover’
PropertyCover Pty Ltd ABN 49 127 074 837 is fully owned subsidiary of HomeSource Ltd, and a Distributor of National Underwriting Agencies Pty Ltd ABN 60 089 657 849 AFSL 246229. PropertyCover Pty Ltd provides a range of new generation insurance products for both property owners and investors.