Is it worth getting Contents insurance?

SmlSave

I was just wondering what you guys think...shoulld I get buildings and contents insurance or only buildings and put the £75 into a savings account every year?

Any thoughts welcome

castle96

IF you know that you will NEVER have to CLAIM on contents cover, then don't buy it ! But you DON'T KNOW that do you.

£75 will probably not buy you full contents cover - personal possessions cover, accidental damage, ec. etc. If you only pay for 1/2 cover, ,you will find that when you do have a claim.... it won't be covered

jillie1974

i would have thought that the cost of contents insurance would far outway the cost of not having it.

ie-
brand new TV £400
brand new laptop- £400
digital camera -£100
etc etc

contents insurance - £30 per month...

i know we would not be able to buy things if anything happened us and we had no contents insurance

Proc

Well, people underestimate the value of their contents.

Be realistic here. If you had a flood, fire, smoke damage, or some other kind of massive loss could you afford to replace everything?

There's the obvious things like TV, Sofa, DVD player, CD player, PCs, desks, tables etc. Aswell as this, there's the unobvious things like cutlery, clothes, carpets, rugs.

Let's just look at cutlery for example. In my kitchen I've got:
3 sets of plates
3 sets of knives and forks
Spatulas
12 different bowls of various sizes
Tupperware containers x 8
Sieve
Egg whisker
3 frying pans
2 saucepan sets
Solid set of steak knives
Various cheese/sharp knives
Cheesgraters
Potato peelers
The list goes on and on. But I reckon it would be a best part of £1,000 to replace the lot. And we haven't included microwave, dishwasher, fridge, freezer, stools, vases, pictures, racks, etc etc. Then we have carpet (only for the dining half), curtains, blinds (3 sets of windows) etc. So, we're on probably best part of £5,000 and we haven't even left the kitchen.

I could go on like this, your contents will be of far greater value than you think when you sit down and calculate everything in the house. How much would it cost just to replace all the shoes in your household for example?

Let's say that 5 years down the line and you don't have contents insurance but you suffer a terrible loss. No problem? That £375 that you've managed to save might get you a bed to sleep on