Home and Contents Insurance

[morag-janet-of-the-hill-family]

What does your insurance cover? We have contents insurance but there is very very little likelihood we will need it as our home is pretty safe from internal fire, earthquake or flooding but the reason we keep it is because it is a lot lower than full home insurance and it also reduces our rates for car insurance as we have a package deal. We figure if we ever need contents insurance, it will help us to get the materials we need to fix the problem ourselves, but it is so minimal that the expense of it is not a great financial burden. If it becomes a financial burden we’ll probably cease to have it. We have used car insurance for glass cover and towing which have been really handy when we were in accidents or break down situations.

[Bonez]

I guess mine only covers the basics except for flooding and accidental damages.
I think I saw just over 300k for the home and about 28k for contents as far as cover goes, I’ve always felt like insurance was a scam because Im paying all this money and nothing will happen, ill never need to use it so I’ve just given my hard earned money to an insurance company for no reason.

[morag-janet-of-the-hill-family]

Yes the premiums are really high now and sometimes they won’t pay out and people have to fight to get their just payments. However I had a friend who was about to stop his insurance and his house burnt down. He got it replaced. However his previous home was an accident waiting to happen. He routinely had chimney fires and he used to get on the roof and throw water down the chimney which caused the chimney to crack. Then he kept lots of petrol in the house all over the place. We used to warn him about that. But with his new house he is far better off. I don’t know how he managed to get insurance cover in the first place as his home had a lot of things in it that would stop one getting insurance and it was about 100 years old. So if you can assess your risk and work out whether investing in insurance is the right thing to do or not and then make a decision from there.