I live in a top floor flat. Is it worth me getting contents insurance?

Ash_Pole

The buildings insurance is sorted by the management company. I'm wondering if it's worth bothering with contents insurance.

The flat is second floor (top floor). Reasonably safe area, don't know of any burglaries here and I'd have thought being on the top floor would be the safest. I don't have a huge amount of expensive possessions. Oldish laptop, 7yo TV, new PS4. Nothing else really valuable. I do have a separate garage though with a couple of bikes and some golf clubs. Value of these probably around £1,000 total.

Other than burglary, is there anything else I'd really need the insurance for?

TSx

The three main ones that spring to mind are a fire, water damage and perhaps most importantly legal liability - if for example you were to leave a tap on and it flooded the whole building, could you afford to pay for all the repairs yourself?

El_Torro

Contents insurance for a flat is not a huge amount of money. I think you're better off having it than not. As TSx says there are things other than burglary you can use it for.

ali-t

I used to live in a top floor flat and there were often break ins in the area by people going through the shared roof space and going in through the ceiling and then out the front door with all the possessions. Definitely worth having.

Ash_Pole

It's a flat roof so no danger of that! But point taken about liability to flats below mine, didn't think about that.

Poppie68

My daughter and her partner moved into a top floor flat 6 months ago, 2 days later they got home from work to find they had been broken into.. It's a lovely modern apartment in a lovely area but due to security getting into the building it looks like it was another resident, so that's something else to bare in mind.

SailorSam

I've only had building insurance on my house for many years now.
I'm very careful about locking up so feel secure; i'm here by myself so don't worry about fires, i don't smoke and turn things off.
I know something could happen but up to now it hasn't

missbiggles1

Ash_Pole wrote: »

The buildings insurance is sorted by the management company. I'm wondering if it's worth bothering with contents insurance.

The flat is second floor (top floor). Reasonably safe area, don't know of any burglaries here and I'd have thought being on the top floor would be the safest. I don't have a huge amount of expensive possessions. Oldish laptop, 7yo TV, new PS4. Nothing else really valuable. I do have a separate garage though with a couple of bikes and some golf clubs. Value of these probably around £1,000 total.

Other than burglary, is there anything else I'd really need the insurance for?

You shouldn't be thinking in terms of what you paid for things but what they'd cost to replace new. Imagine the whole flat went up in flames and you had to start from scratch - it should be a sobering thought and will give you an idea of how much you need to insure your stuff for.

FutureGirl

I live in a top floor flat. I don't think I'll be burgled, but still have contents insurance. It's only £6pm and I am covered for Accidental Damage and have personal possessions cover away from the home as well.

If my flat went up in flames I could not afford to replace each content item, as all my contents come to £15,000 to replace.

HappyMJ

Ash_Pole wrote: »

The buildings insurance is sorted by the management company. I'm wondering if it's worth bothering with contents insurance.

The flat is second floor (top floor). Reasonably safe area, don't know of any burglaries here and I'd have thought being on the top floor would be the safest. I don't have a huge amount of expensive possessions. Oldish laptop, 7yo TV, new PS4. Nothing else really valuable. I do have a separate garage though with a couple of bikes and some golf clubs. Value of these probably around £1,000 total.

Other than burglary, is there anything else I'd really need the insurance for?

Contents insurance isn't just for burglary.

I don't have contents insurance as I self insure everything. If you can take the hit if your property burns down and you replace everything yourself including all of your clothes which is usually the biggest part of a claim then you don't have to have contents insurance if you don't want to.

If you have no way of finding at the very least £5,000 to replace those items then you might want to consider contents insurance. It doesn't cost very much.

dano17439

HappyMJ wrote: »

If you can take the hit if your property burns down and you replace everything yourself including all of your clothes which is usually the biggest part of a claim then you don't have to have contents insurance if you don't want to.

Lol and what about the property itself?? Madness