Home tips for Chinese New Year & how to save on property insurance

For tips on boosting luck and fortune in the Year of the Ox, you may want to hear what feng shui masters have to say. But some matters can certainly be taken into your own hands, such as your home. With the pandemic changing the way we work, many of us are spending more time at home than before. The New Year is a great opportunity to give your home a deep clean and makeover. Whether you believe in feng shui or not, you’re sure to be happier when you have a tidy and comfortable living environment!

Décor

• Lucky charms: Common auspicious decorations for the home include gourd-shaped charms (葫蘆), vases, and bagua (八卦) charms.

• Paintings: If you’re thinking about adding an art piece or two to your walls, you may want to choose paintings of pine or sunflowers, which are considered lucky and auspicious.

• Plants: The pandemic has also sparked a plant frenzy, with many people discovering the benefits of having greenery at home. Plants are also good for feng shui, adding more life and vibrancy to your living space. However, if you have pets at home, you should read up on pet-safe plants as many common houseplants are toxic for dogs and cats*.

• Spring cleaning: An annual deep cleaning is a Chinese New Year tradition, and it makes good sense. Take this time to declutter your home and get rid of things that don’t spark joy. Instead of tossing everything in the trash, think about how you can discard of old items responsibly, such as recycling or donating them to those in need.

How to Save More in the New Year

We all hope luck will turn in the new year, and the pandemic will be behind us. While we wait for the economy to recover, many of us are looking for ways to save and cut unnecessary expenses. For homeowners, taking stock of your home insurance^ policies is a good place to start.

When applying for a mortgage, your lender bank will require your property to be covered by a fire insurance policy (also known as buildings insurance). Most fire insurance plans available are quite similar in what they cover, which generally are damages to your home’s structure caused by fire, lightning, typhoon, windstorms, or flooding. For convenience, many homeowners choose to buy fire coverage through their lender banks, which can cost them up to 0.15% of their sum insured every year.

There are a lot of expenses that come with owning property, but that also means there are many areas where savings can be made. OneDegree Fire Insurance, for instance, offers the same coverage as other plans on the market but policyholders will only have to pay 0.03% of sum insured. If you have a HKD 4,000,000 mortgage, you’d be paying up to HKD 4,800 less every year with OneDegree than with another insurer. That will add up to significant savings a few years down the road, which can be spent on something more worthwhile.

Out with the old, in with the new. Start the new year with OneDegree Fire Insurance and let us help you put more money back in your pocket.

^For more about different types of home insurance: What kind of property insurance do I need for my home?
*If you have pets at home: Decorating your home with plants? Make sure they’re safe for your pets