NOW OPEN: the MSE Forum 'Ask An Expert' event. This time we'd like your questions on TRAVEL & HOLIDAY DEALS. Post by Wed and deals expert MSE Oli will answer as many as he can.

The Importance Of Buildings Insurance.

in Debt-free wannabe
25 replies 1.8K views


  • EssexHebrideanEssexHebridean Forumite
    18.4K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    fatbelly said:
    The car drivers insurance, no reason to harm the house owners no claims discount.
    Indeed, if the driver is insured in the first place. And as for the 14yr old in another story highlighted here, he can't possibly be insured.

    But there is a scheme for uninsured vehicles, not sure of the scope.
    It's time consuming, is the main issue. Generally, when someone needs urgent repairs done to a property after it being struck by a vehicle - perhaps even work to prevent risk of it collapsing and injuring others - and possibly things like alternative accommodation for a while, plus emergency provision for clothing etc which they are unable to access, they need that right now, not in a few months time when the process has been gone through. 
    🎉 MORTGAGE FREE 30/09/2016 🎉
    SOA CALCULATOR (for DFW newbies): SOA Calculator
    2023 "Gym Neutral Fund" - £89.99/£280 (Membership taken 01/2/23)🏋🏻♀️ 2023/24 Gym cost per use: at 03/05/23 £23.33 per visit! (12) 🏋🏻♀️
  • chubstachubsta Forumite
    327 Posts
    Part of the Furniture 100 Posts Name Dropper
    Judging by the amount of news reports I see, 'gofundme' has taken over as the main insurance provider for building, contents and holidays. I am amazed at the number of people who don't see insuring what they have as a priority - sure, the extra cash is nice every month and insurance is basically just 'dead money' that you see no value for, but peace of mind is surely worth a lot too?
    I agree that it is important on a 'debt-free' board that people realise they things they should NOT cut back on.
    Mortgage free!
    Debt free!

    Time poor...
  • GrumpelstiltskinGrumpelstiltskin Forumite
    3.8K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    Bumping back up to the first page.
    If you go down to the woods today you better not go alone.
  • diystarter7diystarter7 Forumite
    5.2K Posts
    1,000 Posts First Anniversary Name Dropper
    OK Don't say this is on the wrong board but we regularly get posters on here who have a mortgage or own outright their homes and who don't have buildings insurance.

    Thinking about the poster recently who was happy buying bottled water but had no buildings insurance. What would he do in the circumstances here?
    Derby: Boy, 14, charged after car crashes into house - BBC News

    No use saying nothing is going to happen to my house you have no control of what a 14 year old boy chooses to do.

    It is on the wrong board, I have requested a move to insurance. 

    Its not on the wrong forum as per OP's statement,

    Interesting thread.

    OP, you make a valid point, 

    Those with a mortgage are the biggest jokers as there is a possibility house burns down, they are left with a plot of land that needes to be cleaned up and possibly a massive debt to the lender.

    Those without a lender IE O/O's, i think having no insurance stems from the old days when people forgot and house prices were not that great

    Sadly, it is like anything in life, people, some people and there are many that get their priorities very wrong. Then many of them turn to facebook/fund me/etc either themselves or mates.

    People can genuinely forget as I'm no fan of DD's, auto renewals for obvious reasons re autorenewal

    What I can't comprehend is the lender not enforcing this buildings insurance as ours never did check - I guess they can afford to chase the owners of the burnt down property for their money.


  • diystarter7diystarter7 Forumite
    5.2K Posts
    1,000 Posts First Anniversary Name Dropper
    Rob5342 said:
    Floss said:
    Rob5342 said:
    It's hard to imagine why anyone wouldn't have it. £15 a month vs losing a lifelong asset.
    But when someone is trying to keep themselves afloat, it is often one of the things that gets cut out of a budget.

    I can get buildings insurance on my house for £7 a month. I know people sometimes have to cut back a lot, but £7 is barely going to make any difference and you risk being homeless for the rest of your life.

    IMO, its not just the cost, but for some, just cant be bothered or people forget.

    We were in the USA some years ago when we got out frist BTL - we bought that for cash and I do keep a close eye on stuff
    via memeory and making notes -  as we had breafast by the pool outside our villa I sundely recalled the insurance may be due. I had a quick look and it was actually due on the house we lived in the next day and the BTW a couple of weeks later in the same month. I have a better sytem now but do not like autorenweal

Sign In or Register to comment.
Latest MSE News and Guides

Energy Price Cap change

Martin Lewis on what it means for you

MSE News

Best £1 you've ever spent?

Share your most impressive bargains

MSE Forum