To think what is the point of insurance at times?

[girlfriend44]

You have insurance for the house and Contents and the car etc. What is the point there's is always an access to pay and it keeps going up every year anyway?

"If I had my way, I would write the word 'insure' over every door of every cottage and upon the blotting pad of every public man, because I am convinced that, for sacrifice that are conceivably small, families can be secured against catastrophes which otherwise would smash them forever." - Winston Churchill

I hope this doesn't bite you on the arse.

Of course you can! You ask for proof of no claims when you move provider.

Well, obviously, we all do lose money on insurance across the board - so insurers make money. It's only worth buying if you can't cover the risk without it. So for us buildings insurance is a must have. Contents insurance, less so. Never bother with the extras on car hire insurance, etc.

This really is a silly post from a grown adult . Remember the summer wild fires ? the houses completely gutted , nothing left but a shell . Would you think those homeowners are wondering what the buildings and contents insurance is for .
I imagine their insurance companies have been extremely helpful with finding them temporary accommodation .

I hit a deer in February. The total bill was £3,900. My excess was £150. That's why you pay insurance.

My parents house burnt down in the early nineties. I think They were extremely glad they’d paid the premiums as I’ve no idea where they’d have found the money to rebuild a 3 bed Victorian Terrace. It was totally destroyed upstairs and the ground floor was very badly smoke damaged. We couldn’t even live in the house for 6 months but the insurance covered everything, apart from a small excess.

Posts like this are the whole reason that it's illegal not to have home insurance if you take out a mortgage, and not to have car insurance if you drive.

It's not illegal (as in a crime) not to have home insurance. It's only a contractual requirement under your mortgage to protect the bank's investment.

It's only a crime not to have motor insurance.

I haven't even bothered to shop around with our house insurance as the renewal quote is usually within a couple of pounds of the original price. It's been £150 for the past 6 years.

of course you can, you can change every year.

the point of insurance is to pay for something you hope you will never need.

Of course you can shop around when it's due for renewal, your no claims bonus transfers between insurers !

Of course you can (and should) shop around for your car insurance (with full no claims cover of course ) (and house insurance) every year. I do this every year without fail, as soon as the renewal notice comes in.

All UK insurers share the same database of client information. So if you insure with X, A Band C can all see your claims history, any additional risk factors, and your current premium. I pick and choose the best insurer; they pick and choose the most desirable customers.If like us you are careful people who cultivate good security AND have a very long no-claims history, insurers are desperate to get our business. As a result our premiums are very modest and have barely changed for at least a decade.

Use a comparison site; they do the leg work for you, all I do is pick the best. (I am particular about the level and range of cover; and the proven service reputation of the insurer).

When a bus reversed into my car and caused £2.5K worth of damage, I didn't have to pay a penny or deal with any of it, as my insurance company dealt with it all including getting back the £250 excess as it wasn't my fault.

When my shed fell down during a storm, the insurance paid out £700 for a new one.

When a ridge tile blew off and smashed 12 slates on my roof, the insurance paid for the repairs.

When my laptop died after my toddler knocked a glass of squash into it, I got a better upgraded model for only the £25 excess.

When the TV was dropped when we moved, we got a brand new one for the £25 excess.

5 various incidents in around 20 years that made it well worth paying the insurance.

That's absolutely true. I suppose with home insurance, I meant illegal as in "you will open yourself up to liability and a probable court case if you don't have it".

Friend decided she'drather have a holiday instead of paying contents insurance (rented from HA). Then her house flooded and she had to cancel the holiday as she needed the money to replace all her downstairs furniture and appliances.

When my kitchen ceiling corner collapsed due to a water leak in the bathroom it cost 2k to sort out, this was a decade ago.

When a double glazing pane got broken in a freak accident the window was replaced, car written off by someone’s car rear ending in to me totally replaced.