Is Drain Blockage/Electrical/Water Pipe Insurance worth it?

Joyce99

I am paying nearly £450.00 per year to insure my drainage, electrical and water systems, plus boiler and central heating cover. Do you think it's worth it? Is it better to self insure? If it is worth it, does anyone know where I can get cheaper cover? I have looked at the comparison sites, but am already with the recommended insurer.

Thanks for your input.

docmatt

No. Nor is this stupid "The pipe between your house and the road is not covered" insurance either.

phill99

There are three types of insurance that you need in life:

Car insurance because its a legel requirement
Home / contents insurance so that you don't loose everything in an unfortunate event
Life insurance so that your loved opnes are provided for in the event of you suddenly dying.

The rest is an absolute con invented purely by the insurance industry to line their pockets and sold to vunerable and gullible people.

You do not need this type of insurance and the chances of you actually using it are virtually zero.

Innys

phill99 wrote: »

There are three types of insurance that you need in life:

Car insurance because its a legel requirement
Home / contents insurance so that you don't loose everything in an unfortunate event
Life insurance so that your loved opnes are provided for in the event of you suddenly dying.

The rest is an absolute con invented purely by the insurance industry to line their pockets and sold to vunerable and gullible people.

You do not need this type of insurance and the chances of you actually using it are virtually zero.

This is absolutely correct - and I used to work in the insurance industry.

ormus

dixons used to make larger profits out of warranty sales, than the profit on the products they were selling.

pimento

Hm. I quite like the ability to be able to call British Gas when my toilet wasn't emptying properly and then my kitchen sink was slow draining and we had tried to sort it out without sucess. Dyno Rod came within the hour (literally) and fixed it.
I also like the idea of a Gas Safe Engineer coming to service my boiler every year to make sure we're not all being slowly poisoned in our beds.

I particularly enjoyed being able to phone British Gas on Christmas Eve in my last house when the boiler stopped working and having a man come out within two hours to fix it.

Not all of us are handy.

pimento

I did recently have an epiphany regarding my pet insurance though....

docmatt

pimento wrote: »

Hm. I quite like the ability to be able to call British Gas when my toilet wasn't emptying properly and then my kitchen sink was slow draining and we had tried to sort it out without sucess. Dyno Rod came within the hour (literally) and fixed it.
I also like the idea of a Gas Safe Engineer coming to service my boiler every year to make sure we're not all being slowly poisoned in our beds.

I particularly enjoyed being able to phone British Gas on Christmas Eve in my last house when the boiler stopped working and having a man come out within two hours to fix it.

Not all of us are handy.

Not all of us have !!!!!! plumbing

pimento

Touch!. Seriously though, I don't think my plumbing is any worse than the next man's (oo, errr, missus!) but I do like the peace of mind that having a number to call if something goes wrong that doesn't involve the Yellow Pages, a future slot on Rogue Traders and AAAAAAAAAPlumbing brings.

Trying to find an honest plumber in my part of south Essex, is like trying to find hens teeth. Let alone trying to find one on Christmas Eve.

ultramagnetic_commuter

You need to assess the probability then weigh up the cost. Something like drains don't tend to block that often so if it happens every 3 years you're better off just paying when it fails/plays up.

The boiler one is the only one which is worth it (IMHO) because you also get your servicing so even if it doesn't fail you have at least got some benefit. It's also the thing that in the middle of winter you really can't do without!

missprice

what ultramagnetic_commuter said is correct

however it depends on your own skills (and the skills of freinds)

i live with a very handy man who can fix just about anything
now he aint great at wall building or washing machine fixing but everthing else that has come up he has fixed and of course he is gas safe registered (for commercial)
but works with domestic gas safe engineers so our bioler gets serviced for next to nowt and if it broke would be fixed for same

but when i did not have this man i got the insurance for peace of mind