Homeowners. Have any of you not renewed buildings insurance cover?

[girlfriend44]

Thinking of giving it a miss this year. No choice really.

Have paid building insurance for years. Nothings ever happened.

I simply can't afford it.
Insurance is such a rip off.
Not going to be too outing but it's gone up one thousand three hundred pounds in a year. No claims in the last five years. In fact never claimed.
Simply cannot afford this, along with everything else.

An increase like that is pure greed.😡
One thousand, three hundred.in a year.
Anyone else not have it?

I’d cut everything before I cut that and I’ve never claimed. My home is the biggest asset I have.

Don't you have to have it as part of your mortgage terms?

Have you shopped around? Personally I would not risk it. If it flooded or there was a fire you would not be covered.

What will you do if your house burned down?

Could you afford it if your home burnt down or some other major disaster?

I have. Did you read one thousand 300 pounds.

I assume you've shopped around, explored having a high excess, etc

What rates did you get when you shopped around?

Do you live in a mansion? Just how big is the house for that sort of money

If you have a mortgage it's usually within the contract you have to have it insured. My parents had no claims for 18 years on a property they owned and then had a fire in it which cost 50k for the rebuild works. Thankfully they had insurance otherwise I don't know what they would have done. In the 18 years before this they had no paid anywhere near the £50k the insurance paid out.

Yes as pp said, cut everything else. No snacks, alcohol, tea, coffee, hobbies, car, clothes, shampoo, TV... All of it goes first. I would live off turnips and chicken feet.

Get a job for 3 hours a week cleaning someone's house?

I presume you have done a comparison site.

That only.
I wondered if anyone has gone without.

That sounds a huge amount of money to me.

So either you live in a hugely expensive house or they see you as a very risky proposition ?

I always have insurance but go for a hefty excess which reduces the cost a lot.
Over 1K is a gigantic premium. I pay around 350 for contents plus buildings, a 4 bed house in admittedly a safe part of the country.

NEVER

I've had to claim on house insurance after a fire. I would never not have insurance. Are you in an area prone to flooding?

That's an enormous increase. Do you live in a mansion? The buildings insurance for our block of flats (7 flats Victorian conversion) is not much more than that in total. Did you make a big claim last year? If you don't have insurance and the house is destroyed e.g. through fire, you will be left with nothing.

Why is your premium so high? Ours is literally a few hundred pounds for building and contents insurance.

What are you insuring? You do know that you insure the rebuild value ie what it would cost to build the property again, not the market resale value. Something seems wrong with your quote to cost that much.

It’s a silly risk to take. If you have a mortgage and the house burns down then you still owe the money.

For some reason they no longer want your custom. It’s not personal, maybe there have been a high number of claims in your area.

you haven’t answered the question about using a comparison site. Combining house and content is usually a better deal.

Only skip your insurance if you can genuinely afford to repair the house in case of fire, flooding or another emergency.

Can you list exactly what your quote is covering? There must be savings to be had unless you flood every year.

You do also need to shop around. Staying with 1 provider for years and years isn't the most cost effective.

No mortgage.

Jesus! No shampoo and no tea bags so that she can save up £1,300??

But if your house burns down it gets flooded how will you repair/ rebuild

Why so expensive ?You shop around every year