To think insurance costs are horrific???

[TheseThingsAreFunAndFunIsGood]

We're in the process of buying our first home and so obviously checking out insurance for building, contents, life to include paying off mortgage etc and on a v.modest 2 bed terrace costs are coming through at £100ish for home and contents and £15-20 for life... Like £1500 a year!! 😮 That's with £500 voluntary excess so not loads... Is this normal or am I missing something??! We'd kind of hoped our bills might decrease as home (nearly) owners but it's looking like the opposite!

Has anyone any tips on reducing costs?? I hate insurance anyway and currently we only have car so it's coming as a bit of a shock that we might be paying so much on a monthly basis just to protect against a maybe! Eek?!

Just wanted to mention, you said it was a terraced house. You have to put in the rebuild cost from your mortgage valuation not the purchase price. Insurance for a terraced house is much higher because you may have to rebuild several properties if for example you have a fire which causes damage to the whole terrace.

Enjoy your and I wouldn’t have thought you’d have to rebuild several properties if you had a fire in a terraced house. Some possible water and smoke damage, is not rebuilding. Rebuild costs are likely to be lower than the purchase price of the house.

We pay £50 for life cover per month and approx £250 for buildings and contents combined annually. Yours seems high.

I pay about £250 a year for b&c with Admiral on their platinum cover which is the highest level.
My critical illness etc is about £36 a month for the two of us.