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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To not have home insurance.

170 replies

PiperIsOrange · 02/10/2014 21:10

I am renting, so any damage on the house is covered by HA.

I just don't see the point.

My parents have just moved and asked what my insurance is like, I said I didn't have it and they read me the riot act.

OP posts:
WorraLiberty · 02/10/2014 21:11

Are you sure they didn't mean contents insurance?

chipsandpeas · 02/10/2014 21:12

you should at least get contents insurance

lest that way iof theres a flood/fire/get robbed you will get back what you would need to replace everything

Original poster
PiperIsOrange · 02/10/2014 21:12

I know they mean contents, but I just don't see the point.

OP posts:
Iwantacampervan · 02/10/2014 21:12

Were your parents referring to contents insurance rather than building insurance?

awsomer · 02/10/2014 21:12

You should still have contents insurance though. Do you have that?

Smilesandpiles · 02/10/2014 21:13

Contents insurance are usually a good idea in your situation, even if you don't have buildings.

BlinkingHeck · 02/10/2014 21:14

My house insurance for buildings and contents costs just £17 a month. It's not worth the risk at that price.

JuniperTisane · 02/10/2014 21:15

How much would it cost to replace everything you own thats in the flat? Can you afford to do that?

awsomer · 02/10/2014 21:15

I guess it's up to you. But I would consider the following;

  1. How would you feel following flood/fire/ceiling falling in on your things/burglary/etc?
  2. Is there any good reason you can think of for not getting it?
CheshireSplat · 02/10/2014 21:15

A friend of mine (late 40s) has never had contents insurance so over 25 years he reckons it's been worth it. It's a calculated risk (a couple of burglaries and he would be down) that he's happy to take. I wouldn't be but I'm not a risk taker by nature.

Would you have the savings to replace everything in one go if it was all stolen or burned?

houseofstark · 02/10/2014 21:15

It depends if you could afford to replace anything you lose through flood, fire or theft? Or can manage without any lost items?

If the answer is no, lack of insurance could be a problem. But you need to weigh up the premium cost against the risk of loss. Only you can make that judgment.

londonrach · 02/10/2014 21:15

Depends on what your stuffs worth. I phoned up the insurance people and informed them i had a bed, sofa and £ of plates, etc and wanted to pay £50 contents only. They agree. My main fear was fire or something like that.

SqueezyCheeseWeasel · 02/10/2014 21:15

You don't need it, so long as you can afford to replace all of stuff in the event of something like fire/flood/burglary etc.

Andrewofgg · 02/10/2014 21:16

Insurance is expensive when you buy it and very, very cheap when you need it. YABU.

Lonecatwithkitten · 02/10/2014 21:16

The question is can you afford to replace every single item in your house of it burnt down and you were left in the street in your nightie. If yes without difficultly then maybe YANBU, if no YABU.

Smartiepants79 · 02/10/2014 21:17

Well if you had a fire/flood and all you belongings had to be replaced how are you going to pay for the replacements?
It could and in fact does happen.

amy83firsttimer · 02/10/2014 21:17

1 - can you afford 5-20 quid a month?
2 - can you afford to replace every single last thing you own? Every pair of socks, every book, every pot, pan, glass, pillowcase, every CD and so on and so on ????

Gruntfuttock · 02/10/2014 21:18

Well, it's simple enough, if it really wouldn't be a big deal if all the contents of your home were lost in some way, and so you wouldn't care, don't bother, but if you would care you should have contents insurance, because that would finance the replacement of those items.

Original poster
PiperIsOrange · 02/10/2014 21:18

I have no savings at all and I wouldn't be able to afford to replace it all.

OP posts:
FinnsMum19 · 02/10/2014 21:18

If you can afford to replace everything you own in the event of a fire/flood/burglary then no. For around £15 a month is it worth the risk?

FinnsMum19 · 02/10/2014 21:18

If you can afford to replace everything you own in the event of a fire/flood/burglary then no. For around £15 a month is it worth the risk?

MrsTerryPratchett · 02/10/2014 21:19

I work with tenants. I just had a call today. Trashed place, crime committed, theft, no insurance. She can't pay the rent. The other week tens of tenants out of their home for ever over a year. Fire; smoke and water damage, everything ruined.

Go to your wardrobe, count how much it would cost you to replace everything. Then your kitchen; count everything.

If you can self-insure (as in Chesire's friend's case) that's great. Most people can't afford to save up and risk losing everything in the meantime.

iwantgin · 02/10/2014 21:19

your choice - but if you had a fire everything could be damaged. Carpets, furniture, personal possessions would all need to be replaced.

I recently upgraded our contents and buildings insurance as we had an extension - it is really hard to calculate/estimate how much it could cost to replace every single thing in the house.

Original poster
PiperIsOrange · 02/10/2014 21:19

I can afford it.

OP posts:
BoomBoomsCousin · 02/10/2014 21:19

You should get renters insurance. In particular you want the coverage for liability, in case someone gets hurt or their property damaged in your home and you are liable, and legal coverage incase you get sued (whether or not you are liable). These costs can by crippling. It will also cover you for burglary and normally some accidental damge to property too but the contents insurance is probably not the major reason to have it.