Should we share increased insurance costs?

Sensible_Jess

I have a dilemma and I'd like the thoughts of the wise folks on here.

It's home insurance renewal time again, and being MSE and as our current insurer has hiked the premium from last year, I'm shopping around.
We have the perennial problem of having to tick the 'less than 400m away from a river' box, but this is not what I want advice on.

My OH has an item of high value, which we have to specify and also sports equipment of high risk/high value which have to be itemized and insured separately.

This year it's been hard to get quotes and the best premium is over double what we would pay without these items on the insurance. I'm getting fed up with the rigmarole every year, not to mention the additional cost that I'm paying half of!:mad:

I've looked into specialist insurance companies for the sports equipment, but that's even more astronomical than adding the items to the house insurance.
Our budget will be squeezed this year as I lost my well paid job and my new job will pay half what I earn now (but with good prospects) so I'm looking to save money where I can.

Would I be unreasonable / mean to ask my OH to pay the extra premium costs that come from having his sports equipment on the house insurance? Is it something I should accept as part of being a couple?

mummyroysof3

Depends how you divide up all household bills IMO. If everything is shared from same account then no issue but if you pay half each and you are going to struggle due to wages cut then I don't think it's unreasonable to suggest he pay more towards it

Georgiegirl256

I guess it all depends on your financial set up? Ours just comes out of my husbands account, always has. We don't have any 50/50 set up, all the main bills come out of his account, because he has always been the main earner, and earns about 4 times what I did when I was working.

If you split things 50/50 and it's increased because of his sports equipment, then no, I guess I don't think it's unreasonable to ask him to pay more, but then again, I guess it all depends on his earnings, and if he could manage to pay more.

74jax

My hubby kite surfs and our insurance went up too. We pool all our bills and so I have had to take the increased premium. One of the downfalls:rotfl:but there's many plus's too:beer:

persa

In our relationship, we have shared costs, which are essentially cost of living expenses, and any kind of shared entertainment.

We also have individual costs, which we pay for individually - basically things that benefit just one of us, rather than us as a couple. My OH doesn't contribute to me having a girlie meal out, I don't contribute to him going to the pub with his mates. If there's an overlap and we go out together, then it comes out of our shared spends, but we like to do a lot separately.

If my OH had an expensive hobby (e.g. skiing) which I didn't share, he'd have to pay for that himself. It goes both ways, I'd never dream of making him subsidise something that was just 'for me' and not 'for us'.

maman

persa wrote: »

In our relationship, we have shared costs, which are essentially cost of living expenses, and any kind of shared entertainment.

We also have individual costs, which we pay for individually - basically things that benefit just one of us, rather than us as a couple. My OH doesn't contribute to me having a girlie meal out, I don't contribute to him going to the pub with his mates. If there's an overlap and we go out together, then it comes out of our shared spends, but we like to do a lot separately.

If my OH had an expensive hobby (e.g. skiing) which I didn't share, he'd have to pay for that himself. It goes both ways, I'd never dream of making him subsidise something that was just 'for me' and not 'for us'.

My DH and I operate in much the same way. He pays for all his hobbies out of his own money. One hobby is collecting antiquarian maps but fortunately none of them are of a high enough individual value to up our premiums. When we've had cars of different values/engine capacity in the past we've shared the insurance premiums. I suppose as it's sports equipment that's costing the money then OP's partner could pay for it but I'm not sure I'd want to fall out over it. DH and I never argue about money so I'd want to avoid that even if I had to be 'generous' on this occasion.;)

silvercar

Would I be unreasonable / mean to ask my OH to pay the extra premium costs that come from having his sports equipment on the house insurance? Is it something I should accept as part of being a couple?

Where would this money otherwise go? Into savings/ holidays/ socialising/ debt repayments

If it is going to mean you paying out more on other stuff then there is no point making an issue over it.

ladymarmalade

As other posters have suggested, it depends how you already divide up your income. My husband was made redundant last week, so it's a bit crazy at the minute until he gets a new job (fingers crossed), but when things are running usually we pay everything together ie:

Our wages get paid into one main account....we then remove everything for mortgage, household bills, regular personal bills like contact lenses, my teaching union fees etc and that goes into a seperate bills account. This is where all our insurance comes from as well. We then send a set amount of money to our own personal account which is our own 'pocket money' so to speak. We do with this what we like. Then we use a cashback credit card to pay for fuel and food etc and then pay that out of the main account at the end of every month. What is left in the main account aftr all that goes into our savings account.

So basically anything that is not new clothes, my make-up cheeky bottle of brandy etc coses from a shared pot. This will only work though if the person who earns the most is happy to perhaps pay a slightly bigger share.

We both have named 'big items' on our household insurance (him 2, me 3), but it has never even occured to us to sit down how that works out. We just pay it..but that is how all our finances work! I think for the answer to your question you need to ask yourself how your finances are normally shared, and would you agree if it was the other way around.

Hope that helps!

globetraveller

we pool our salaries as well. He does have a gym membership which is paid by dd. But then I spend far more on things like getting my hair coloured so it kind of balances out. We do put a monthly amount into dd account and then we have a savings account. After that we a set amount of "pocket money" which we each take. Then of course we have what is left for food/household, joint activities etc. It works for us. However, if we were in a position where one of us had lost a job then it would all be rethought- less or no pocket money, gym membership( as he tends to ignore the gym for months on end and then go demented in it!). Doesn't sound as if you would have much option with the insurance though.

maman

globetraveller wrote: »

we pool our salaries as well. He does have a gym membership which is paid by dd. But then I spend far more on things like getting my hair coloured so it kind of balances out. We do put a monthly amount into dd account and then we have a savings account. After that we a set amount of "pocket money" which we each take. Then of course we have what is left for food/household, joint activities etc. It works for us. However, if we were in a position where one of us had lost a job then it would all be rethought- less or no pocket money, gym membership( as he tends to ignore the gym for months on end and then go demented in it!). Doesn't sound as if you would have much option with the insurance though.

I think if one or the other didn't have an income I wouldn't hesitate about picking up all the bills (or vice versa). If I was the one who was being 'kept' though I'd think very carefully about every penny I spent. I couldn't be extravagant if it wasn't my own money IYSWIM. I'm used to having my own money and I know I'd find it very hard indeed. DH and I have a system where we each pay an equivalent (similar incomes) into an account to pay for all DDs. All shopping and fuel goes on a CC and gets paid off IN FULL:money:each month. We even have a cash kitty that we use for incidental expenditure (cash shopping in markets etc). Holidays we pay 50:50. Everything else we keep and we have separate saving accounts as the interest is better that way (2 lots of ISAs, 2 lots of current accounts that pay interest etc). We don't have a set amount of 'pocket money' but as we're both sensible with money it works out fine. It would be different if either us was blowing all our spare cash.


So to answer OP's question. If her DH is paying his way and trustworthy with finances in general terms I'd share the premium. If she's bugged by how much he's spending then I can see how she might feel.

Tigsteroonie

Sensible_Jess wrote: »

Would I be unreasonable / mean to ask my OH to pay the extra premium costs that come from having his sports equipment on the house insurance? Is it something I should accept as part of being a couple?

Would it be unreasonable for him to ask you to contribute more towards the electricity bill because his hair is short and dries naturally, whereas yours is long and you use the hairdryer every day for 10-15 minutes? [For example]

I'm sorry, but surely insurance comes under the heading of 'joint household expenditure' ... :cool: