To not have home insurance.

[PiperIsOrange]

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.

Id get some basic cover if I was you, its really cheap.

We have 4 dc so would never be able to replace everything if there was a fire.

Ds3 spilt baby oil all over the hall carpet the other day, if we hadnt managed to get it out there is no way I could have afforded to replace the ll carpet without.

Ive also privately rented places that have refused to hand over keys until theyve seen proof of content and accidental damage cover

I've got buildings and content insurance, when I renewed it recently they make you realise the value of everything you own in each room, it certainly adds up. Plus I did it through the comparison site and got a free meerkat!

The house behind be burnt down in a fire, it went from smoke to roof caved in destroying the lot in less than 20 mins. Having seen that i'd always find the money for insurance.

Actually Woolly that reminds me partly why I haven't bothered for years. Paid insurance of £42 a month for contents including the freezer contents, the works. This was 15+ years ago. We were burgled and the hassle of getting anything out of the insurance company was a pain. It took forever and they didn't give new for old. They wanted receipts for everything - I keep things now, didn't think to then.

I renewed mine recently. Didn't think I had that much.

Everything, including wallpaper/flooring, appliances etc....£50k almost.
For 2 adults, an almost teenager, 2 dogs and a small 2 bedroomed house.
The gadgets add up bloody quick too. TV, 2 X boxes, laptops, Gaming PC, iPad, Kindle...

Just over £11 for £50k of contents cover, new for old, accidental damage (for stroppy Autism teenager) and legal cover.

Worth paying I think.

I'm more concerned about the irreplaceable things - photos, knick knacks, little notes when DC small. The rest I don't care about. Things like wallpaper I just think every few years you'd wallpaper new anyway or replace the carpets etc. Clothes I'd buy the basics and just add as we went along. I might get a very basic cover for £6 a month but I've nothing really worth stealing, not many gadgets and those we have are old.

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

what? that's cheap. we pay 40 a month.

When i was renting I didn't have contents insurance, but i am not sure that was the right decision.

people here are correct that you probably own a surprising amount of stuff. but I disagree with people that you necessarily need it. however, it might be worth it if you can get it cheap (like 10 a month),

depends.

It is well worth it. Although I've never had a major claim I have claimed enough in bits and bobs to make it worth while.

A friend of mine lost everything in a house fire when she was younger and living at home. They came home to find the house gone, all they had was the clothes they were stood in. Not only did they have the cost of replacing everything covered but also the cost of finding an alternative place to stay.

It covers your mobile phone too.

I'd recommend not going through a price comparison site as you rarely get the best deal.
Also, when the renewal comes round never ever just take the price they quote, always get another quote, chances are it will be cheaper.

£65.72 a year the cheapest I found, going to phone them tomorrow to ask what is covered.

You should insure against risks you can't afford to cover yourself.

For example, it was going to be £150 to insure my bike for the year. My bike is probably not even worth much more than £300. I can afford a new one if it gets stolen and I don't expect it to be stolen more than once every two years. So it makes sense to not insure.

My car, well that I can't afford to replace if I total it. So I do insure that for £500 a year. I think my car would be about £5k so that assumes in going to total a car once every ten years. Insurance company is still winning... But probably not quite as much as on the bike.

My mum never had insurance. Her opinion was that she didn't have anything worth insuring and of course that no one would burgle her house because she didnt have anything.

She was burgled. They took all of her jewellery, my grans wedding ring, an opal ring she was keeping for me. Now, money wouldn't have replaced the sentimental stuff, but it would have replaced other stuff.

She STILL doesn't have insurance. Now she really doesn't have anything worth stealing.

Please get contents insurance. We had cover for 30 years and never claimed, then the house burned down. We were lucky to get out alive as one of the stud walls fell over and wedged against our bedroom door. We lost everything, and I mean everything, think toothbrushes, toothpaste, washing up cloth. If you turned your house upside down and shook it, everything that fell out would need replacing. Make sure you do it tomorrow. :-)

We didn't have contents insurance for a few years as we just couldn't afford it. I hated not having it, despite never having claimed. But if our house burned down no way could we afford new kitchen/bathroom, redecorating the whole house, beds for 7 of us, all the other furniture, clothes for 7 of us et etc.

Ours is about £8 per month, definitely worth it should the worst happen. Or even for something like a leak that means we have to replace flooring.

I'm justifying not getting it to myself too Woolly. If I can get it for less than £10 I may get it.

Definitely worth having. I pay £19 per month for both buildings and contents.

whois your car insurance is not so much for your car, but for the damage you could do with it. (No reflection on you personally)

the cost of car insurance does not relate to the value of the car.

awsomer Good point. I'm in the UK now but lived in the US for quite a while so I've probably been corrupted when it comes to that sort of thing!

My car, well that I can't afford to replace if I total it. So I do insure that for £500 a year. I think my car would be about £5k so that assumes in going to total a car once every ten years. Insurance company is still winning... But probably not quite as much as on the bike.

car insurance you need because, well, you have to have it.

but unless you have a really expensive car, the main point of the insurance is not to cover your rust bucket, but to pay for all the damage you might cause in an accident (you might hit a really expensive car).

that being said, you are right. you should get insurance for costs you don't want to bear. in this case, i don't really think theft is big issue (at least for us it isn't, we don't have a lot of easy to carry items worth a lot). it's the fire and flood. for example, if you have a lot of specialized books, you could easily have a huge amount just in books.

but back to your point about insurance and cost, I think many people over insure. for example, i think insurance for a smartphone is in that category.

but the OP said she got a quote for 65 a year? unless you really don't own much, that sounds really good.

out of curiosity, do any people here with ultra cheap buildings + contents insurance live in london?

please get contents insurance OP! Its worth it for the peace of mind. Its like the people who refuse to buy holiday insurance and then up abroad having suffered a tragic life changing accident and reliant on family and friends to fund raise for their care and getting them back home.

DH colleague had a house fire this summer. Friend had a ceiling collapse and stuff ruined due to a leaking shower.

Insurance saves your sanity when something goes wrong.

i think maybe people under estimate how much they might lose in the case of a flood or fire. its not just the immediate area - even if a fire is contained and put out quite quickly, there may be smoke damaged stuff, water damaged stuff, everything from decorating and new carpets and new furniture and clothes and electrical devices to be replaced. It all adds up.
In our house we have a separate policy for the piano and 6 other instruments. It's still only about £40 a year for that and includes theft from car and damage outside of the home too!