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?

£1300? Do you live in Buckingham Palace? That's extortionate. I usually pay about £350 for buildings and contents.

how on earth is it that expensive? Mine is about £100 with contents included, and I got nearly half of that back with cashback.

If it's that expensive either your house is massive, in which case you can afford insurance, or it's because it's in a high-risk area, which makes insurance even more important.

Shop around and use a cashback site and you should be able to reduce it significantly.

Have you shopped around because if you have been with the same one for years they do often put it up loads, trying their luck as always some that will pay

No.

I’m on a low income and a single parent with a mortgage. Insurance is still an absolutely essential cost.

Can you just tell us if you've bothered to use a price comparison site.

Just shop around!
Never cancel house or life insurance. It's just not worth the risk.

I pay £180 a year for buildings and contents for a 4 bed detached, admittedly in a very low theft rate area, but, still...

Nope - I own 70% of this house there’s no way I would risk my 70% equity for £1300

everyone knows the first thing you pay is the mortgage the second is the insurance after that everything else can wait

I have friends who are being quoted this. They don’t have mansions but have been told they’re now at risk of flood etc.

i think it’s quite common for ie pensioners without mortgages to see buildings insurance as a luxury but, well, it’s obviously a risk. If your house was destroyed you would only have land. If your house is attached to other dwellings you would be responsible for their rebuilds if ie your house fire damaged their houses

I hate threads like this. OP never answers the gazillions of posters asking the same question 🙄

Two choices:

1. Use an insurance broker. They are experts and will find you the best deal
2. Don't renew, then set up a Go Fund Me page when the inevitable disaster strikes, because that's generally what people who don't take out insurance do. Which is so arrogant, expecting people to bail them out.

I forgot to renew ours one year 🫣 so technically yes, I have gone without! I’m insured now though 😉

How on earth is it that cheap? Never in my 20 years of home ownership has my buildings and contents been £100 a year 😱

Exactly. Usually because it's just some sort of wind up or troll post.

Try compare the market etc

I wouldn’t risk it. Have you shopped around?

Have you shopped around different companies on money saving expert and compare.com etc?

I wouldn't risk it personally what if you flood your property with plumbing issues, electric causes a fire, something smashes your windows etc. Your roof starts leaking etc .

Yes, but yours has risen by 1300 in a year.

I don't think OP wants to answer if she has shopped around, maybe it's outing.

It's not a wind up.
It's obvious I'm aware of shopping around.
If you read my post I did ask if anyone else had gone without insurance, what else is there left to keep saying.

It's not a wind up.
It's obvious I'm aware of shopping around.
If you read my post I did ask if anyone else had gone without insurance, what else is there left to keep saying.

My home and buildings cover is £260 this year , on a large 4 bed detached in the SE , with Churchills . Unless you live in a high flood risk area , or own a castle I can’t see how you are paying £1300 .

If it had, then I’d be assuming the insurer didn’t want the business and taking myself off to price comparison sites to find a better deal. I still wouldn’t be without insurance and indeed when I did have to make a large claim due to a flood, the increase in premiums was about £4 a month.

I mean nobody is forcing you, do what you want 🤷🏻‍♀️

It will cost a lot more than that if something does happen. You’re being very foolish if you don’t renew.