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Your children leaving the nest can be a time that leaves you feeling exhilarated or sad. Life, as you know it, will change considerably. Whilst understandably this period brings mixed emotions, it may also bring new opportunities.

The change in situation will probably alter your personal insurance needs, such as home insurance. Here are some examples of how your needs may change:

Discounts - If your kids are away at university you may be eligible for a student discount on your home insurance. On the other hand, you may be entitled to some senior discounts, and it is always worth checking what is available in your circumstances.

Re-assess the price of your possessions - Antiques, heirlooms or art may have amplified in value since you purchased them, and so it may be appropriate to get them re-valued. Possessions you have worked hard for deserve to have the right level of protection.

You may need extra cover - Studies by Datamonitor established that so-called 'early empty nesters' have more disposable income than previous generations and are able to treat themselves to more luxuries and home renovations. Empty nesters in these conditions may therefore require and extra level home contents cover.

Downsizing - If you are downsizing from a large family home to one which better suits your scaled-back lifestyle, your home and buildings insurance needs will undoubtedly change. Re-assess your policy to ensure you are not paying more than you should be.

You might require more cover - Research by Datamonitor found that so-called 'early empty nesters' have more disposable income than previously and are able to treat themselves to more luxuries and home improvements. Empty nesters in these circumstances may therefore require and extra level home contents cover to take into account their new belongings.