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Building insurance
ALacoste
Posts: 34 Forumite
Hi All is building insurance necessary by law or is it one of those things that is good to have? It's coming out bit expensive and could do with the money but then think it probably more sensible to actually have it in place please advise
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Comments
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There is no statutory requirement for it however if you have a mortgage you have a contractual obligation to have it.
If the worst happened could you afford the £200,000 (or whatever it is) to rebuild your house?0 -
And the cost of whatever damage might be caused by a problem with your house.0
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MMM I would always get the insurance.
I have worked hard and would never be able to pay to have my house rebuilt if the worst happened. I would instead say shop around get the insurance and economise elsewhere.Happiness, Health and Wealth in that order please!:A0 -
Imagine you didn't insure to save some money and a storm.....let's call it Storm Ciaran comes along and floods your house. Who do you think would pay for the repairs ?0
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Try Churchill, I have buildings, legal and contents
I pay £28 a month0 -
It's coming out bit expensiveWhat is your definition of a bit expensive? In most areas and with typical mainstream housing, it would be dirt cheap.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1
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