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PAGE 22, WEDNESDAY, FEBRUARY 3, 1982e WH I TBY FRE E PREýS Insure- home contents at "replacement value An excellent 'deal for homneowners and apart. ment dwellers has, corne, along in the form 1 of a new type of insurance for home furnishings and-,other household goods. Standard home-contents insurance covers each item lost in a fire only for the item's actual cash' value an amount often based on its depreciation with age. In other words, a bedrooni suite for which you paid 81,500 five years ago might now be worth only about $500 on the 'second-hand furniture market, and -ihat's what the insurer will, pay you. A brand-new, identical 'suite, however, might now cost $2,000, because of inflation. Replacement value in- surance covers you for up to four tumes the cash ývalue of each item or, in the case of the bedroomn suite, for up to $2,000 instead of for just $500. When you apply this to aIl your furnishings, floor coverings, appliances, clothing, etc., it'adds up to a very substantial differ- ence. The only other lumit is the total amount of your insurance. What is the*differenoe in csA standard home. owner insurance package, insuring a house for 360,000 and the contents for haîf that amount, or $30,000, costs- about $160. The sanie package with a replacement-value element for the contents costs about $190, or only $30 more per year for what potentially amounts to four times the coverage. It is possible to buy replacement-value cover- age for the contents alone witbout taking the over-al package,' but it is consider- ably more expensive - roughly $207 for the con- tents alone. The package, obviously, is the best deal, and a similar' package- is available to apartment dwellers. You shouldý be aware, though, that some items are' fot covered by replace- nment value home-contents insurance. These are items that increase in value of their own accord - such valuables as jewellery, works of art, antiques, etc. These you should have appraised and insured separately. For those items that are insured, however, replace- ment.-value insurance offers a good deal. Talk to your insurance broker about buying it or having it_ added to your existing policy. GARRETT'DOWKER, 576-7384 Peter Gillespie, Mana- ger of the Whitby Branch of A. E. Le- Page (OntarloIô) Ltd.- takes pleasure ln an- nounclng the appoint- ment of GARRETT DOWKER ta his staff. Garrett is weII quali- f led ta asslst you in real estate ln Whltby and surrounding area. 601 DUN DAS ST. W. WHITBY: 666-1333 TORONTO: 686-1979' Look at our RRSP 13/4%* Mutuel Lifes Accumulation Annulty off ers you these advantages: E3 interest la caicuiated and added dally CI contributions are lax Sdeductibie E no sxpense charges or administrative tees; ail your money goes to work for you immediateiy El fioating and -guaranteed Interest rates availabie El choice cf Income options at retiremeni Cal HERB TRAN 725-6564 668-5968 Mutuel LII. of Canada Three-year guaranteed Interest rate as of Monday, February 1, 1982. Rates cen change without notice. New directors for Real Estate-B.o'ard On Thursday, Jaàn-' uary 21, 1982,,the 1982 Board of Directors of the Oshawa and District Real Estate Board were installed i office by the board's founding presi- dent, Paul Ristow. George Van Dyk, Van Dyk Real Estate," became' the 1982 presi-' dent with Blair, Buch- anan ý (of Whitby)', FamilY Trust and BU More,' Royal Trust taking the positions of first and -second vice- presidents. The annual meeting of, the board was a special' occasion this year, as, it honored aill past-presi-- dents of the board with a' special cermony in presentation. Harvey Mintz, 1981 president, read the 1954 annual financial state- ment of the board. (1954: was the founding year for 'the, Real' Estate, Board.) He noted that the boardat that time hae- assets of $307. George Van Dyk spoke to the member- ship, thanking them for their 'support and pro-* mising that during his term hie will employ an open door policy with full disclosure, sound financial management and as dernocratic a process within the board, through participation of-, >committees as -is possi- ble Shop around with care for best mortagedeal With. mortgage money as expensive as it is these days, the borrower should- make sure he knows ail the ins and outs of the market. As a borrower, you should investigate ail possible sources of mort. gage money .- banka, trust companies, insurance cLmpanies, credit unions, an companies and private interet rat, the --or-e the amortization poeriod, the higher the monthly payments. On a $W,~000 mortgage at 16 per cent intereat, for example, you wiilpay a total of 8129,006 in interest and principal over 15 years as opposed to $197,862 on the sanie mort- gage amortized over 25 years. If you choose a shorter tume period, it will ha up to you to convince the leader that you can Manage to meet the higher ÇONTINUED ON. PG 23