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?

Exactly, would they want to be outed, stop asking so many questions.
The question I actually asked is, has a yone gone without insurance.
Answer seems no.

She said it had increased by £1.3k in the last year.

I would not. If my renewal premium was set to go up that much I'd seek lots of quotations elsewhere, since my current insurers clearly didn't want to cover me any more. If there's a low claims history (you say five years, was it a substantial claim then?) then it's likely some change in the risk.

Incidentally, I've doubled my contents sum insured because it hadn't changed in 25 years. My opinion is that the cost of replacing everything in our house - electronics, kitchen equipment, white goods, cabinetry, plus bathroom ceramics and textiles, beds, sofas, wardrobes and contents - you get the idea - have ALL gone up significantly in that time and the old SI just wouldn't cover the cost to replace it all. The difference to the premium was about £2.

Just shop around.

Stop asking so many questions
Yabvu

So you're 'aware' of shopping around but haven't actually shopped around.

Op that increase is so much.. are you sure you aren't mistaken? I don't think our annual policy is that much! We oat about £30 a month for a 4 bed house

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.

Lots left to say! You are "aware" of shopping around but have you actually done that? Or spoken to your existing insurer to ask why there is such a huge increase?

If you answer some of the relevant questions which people have asked it might provide some idea of why there is such a huge increase or posters might have ideas of how you could look at reducing the premium.

Ugh. Can’t be bothered with threads like these. OP clearly doesn’t want to engage with anyone.

Phoning the company to say you want to cancel usually results in a cheaper quote.

I wouldn't go without it, it's far far more financial risk to you not to have it.

Op. The reasons the quote is so high is probably because you haven't changed your insurer for years and they think you're a mug plus probably some claims in your area make it seem like you have a high risk (floods, etc). It's clear that the answer to your question is yes it is unreasonable not to insure your house but it will probably cost nowhere near the amount you were quoted.

No, I've not gone without house insurance.

Why is your insurance so expensive? What was it last year? Is it thatched, or something? Help us out here.

I’ll ask the same question again just for a laugh. What kind of house do you live in where the building insurance costs more than £1.3k? I’m around £250 for a decent sized house. You have no mortgage and low income. Are you living in a mansion?

If you can't afford the increase of £1300 when paying no mortgage for your building's insurance (and that's genuinely the cheapest you can get) then you can't afford your house and should sell up and move somewhere cheaper.

I paid £92.70 for my buildings and contents insurance this year.

We live in an area dedicated as a flood risk despite having no flood in the 30 + years we’ve lived here and so I feel your pain. Our quote was in a similar ball park but I managed to get it down to 900 ish by going through a broker. (I used Adrain Flux). Could that be worth trying?

If you can’t afford to insure your house, you can’t afford to live in it.

You need to sell up and downsize.

dunno, but I've just done a new quote because it's up for renewal anyway, and the cheapest was £81 (went through topcashback which gives £36 back so if I went for that one it would be £45 for the year!)

combo of small house, no prior claims, high excess, low contents amount, and not choosing any of the added extras, maybe?

No I would never go without insurance for my house or for my possessions or for my holidays.

As you aren't answering questions it's hard to gauge £1300 increase

No, people don't tend to go without insurance for property they own because most people don't have the ready cash to just pay for rebuild or damage repair not just to their property but to anyone else's property affected.

I'm also going to assume that as much as you've said you're aware of comparison sites that you haven't actually sought quotes to compare your renewal to. So probably do that.

Absolutely not, you'd have to be insane.

I have been without it by mistake for a few months and felt sick when I realised. Too big a risk.

However, I HAVE received ridiculous quotes before. Shopping around brought it down dramatically.

The only people I know with such high premiums live in a 16th century listed building, or on a flood plain which has flooded them multiple times.

I don't understand how it can be so expensive. Our house is "valued" at £900k and we pay £350 per year home insurance. SW London

I know of some people who've only insured the building not the contents, simply because it's been so expensive.

Unless you can afford to rebuild youe entire house and replace the contents, I would not be without insurance. We do live in a big house and ours also went by above £1K this year but we are sucking it up as it’s an essential

Previous large claim?
complex property in a complex area?
loads of reasons. Lots of people won’t just be able to go on go compare and suddenly find it’s only £400 after all.

No. I have claimed when the kitchen caught fire and required everything from a new roof, to a tea strainer.

I've read about people who don't buy buildings insurance- usually trying to raise funds from the likes of just giving when they are in a similar position.

Don't do it.