Home insurance claim question

[Deleted member 63160]

In a sense, home insurance is a gamble.
If you don't have it and your lucky enough never to have a fire, a flood, subsidence, burglary or even an aeroplane crash-land on your house you could save many thousands of pounds over your lifetime.

Well, punk, do you feel lucky?

Building yes, contents is utterly worthless to me personally.

I worked out it's cheaper to set aside what it would cost in monthly direct debit for contents insurance, in the event of a theft I'd cover the cost myself.

Honestly?? I pay about 100 dabs a years for contents cover. If I was burgled and all they took was my two biggest TV's that would be 20 years of premiums gone in a heartbeat. With respect it doesn't add up. Sorry mate but setting aside ten/twenty a month for your whole life would not cover the cost of an average burglary.

 

[AronSearle]

Have you chaps worked out the cost of paying for insurance over the life of the policy versus the cost of putting the work right yourself ?

My what a Sharpe mind you have to make such an insightful comment, I am sure that is such an original thought, and not something every single person who takes out a policy considered.

What a special flower you are!

 

[FiremanT]

I?

I worked out it's cheaper to set aside what it would cost in monthly direct debit for contents insurance, in the event of a theft I'd cover the cost myself.

This way if there is no loss I get to keep the lump sum I've already put away , it doesn't go to an insurance company.

£10 a month?

Do you sit on a soap box, watching the scenery and listen to birsong?

 

[HawkEye244]

In a sense, home insurance is a gamble.
If you don't have it and your lucky enough never to have a fire, a flood, subsidence, burglary or even an aeroplane crash-land on your house you could save many thousands of pounds over your lifetime.

Well, punk, do you feel lucky?

Building yes, contents is utterly worthless to me personally.

I worked out it's cheaper to set aside what it would cost in monthly direct debit for contents insurance, in the event of a theft I'd cover the cost myself.

Honestly?? I pay about 100 dabs a years for contents cover. If I was burgled and all they took was my two biggest TV's that would be 20 years of premiums gone in a heartbeat. With respect it doesn't add up. Sorry mate but setting aside ten/twenty a month for your whole life would not cover the cost of an average burglary.

I don't think I have more than a few thousand pounds worth of contents, I'm not a material person.

I certainly wouldn't pay for years to get back a fraction of what a insurance company deems to be the depreciated cost of something I bought years before. I'm not a sucker.

 

[HawkEye244]

Well it's a fear industry like damp and asbestos

Ridiculous analogy.

I?

I worked out it's cheaper to set aside what it would cost in monthly direct debit for contents insurance, in the event of a theft I'd cover the cost myself.

This way if there is no loss I get to keep the lump sum I've already put away , it doesn't go to an insurance company.

£10 a month?

Do you sit on a soap box, watching the scenery and listen to birsong?

Then pay, what works for you works for you

 

[AronSearle]

I don't think I have more than a few thousand pounds worth of contents, I'm not a material person.

So you don't have carpets, curtains, furniture, white goods as well as electronics which insurance covers.

Sounds very Spartan.

I'm not a sucker.

Of course you will pay more than you claim back on average, we know this, what is silly is acting like you are 'the wise man', only able to see this truth that the rest of us mere peons cannot comprehend, oh no! you ain't no sucker!

 

[noseall]

I guess that if you live in a shed and have no valuables then crack on.

Back in the real world we have things like subsidence, fire, flood, burglars etc etc. You crack on bud and save your tenner per month. Happy sleeping.

 

[HawkEye244]

I guess that if you live in a shed and have no valuables then crack on.

Back in the real world we have things like subsidence, fire, flood, burglars etc etc. You crack on bud and save your tenner per month. Happy sleeping.

Out of interest what's the precise amount you pay per month for contents insurance, when did you start the policy and have you ever made a claim ?

 

[noseall]

Out of interest what's the precise amount you pay per month for contents insurance, when did you start the policy and have you ever made a claim ?

We started in 2000.
We pay aboot £150 (now) per anum for contents. I'll have to check with her indoors.
We were burgled a few years back and claimed. Total award was about 7k.
//www.diynot.com/diy/threads/anyone-been-burgled.292933/

 

[HawkEye244]

Out of interest what's the precise amount you pay per month for contents insurance, when did you start the policy and have you ever made a claim ?

We started in 2000.
We pay aboot £150 (now) per anum for contents. I'll have to check with her indoors.
We were burgled a few years back and claimed. Total award was about 7k.
//www.diynot.com/diy/threads/anyone-been-burgled.292933/

And what was the actual value of goods lost ?

 

[Deleted member 63160]

Out of interest what's the precise amount you pay per month for contents insurance, when did you start the policy and have you ever made a claim ?

We started in 2000.
We pay aboot £150 (now) per anum for contents. I'll have to check with her indoors.
We were burgled a few years back and claimed. Total award was about 7k.
//www.diynot.com/diy/threads/anyone-been-burgled.292933/

And what was the actual value of goods lost ?

I have a cunning hunch his losses would have been about 7K.

 

[FiremanT]

Well it's a fear industry like damp and asbestos

Ridiculous analogy.

I?

I worked out it's cheaper to set aside what it would cost in monthly direct debit for contents insurance, in the event of a theft I'd cover the cost myself.

This way if there is no loss I get to keep the lump sum I've already put away , it doesn't go to an insurance company.

£10 a month?

Do you sit on a soap box, watching the scenery and listen to birsong?

Then pay, what works for you works for you

I do, and it does.

But, frankly, you started it. If you really only have a couple of rands worth of contents, then you are probably right not to be bothered. But if my house wuse went on fire, the £120 pa would seem small beer

My personal gripe is the twonks who go abroad with no insurance or lie on the application, then have their friends and family organise appeals when they are locked in hospital with no means to pay.

 

[NicKarla]

My experience is that if you are totally honest with the insurance company they will pay the claim without any quibble.

I was digging in the garden and hit a gas pipe. I have insurance covering this and phoned them. The automated message said in the event of a gas leak to call the gas provider emmediately and contact them back within 48hours. The gas company came and repaired and said they would charge. Phoned the insurance Co back who said, sorry, if it's not repaired by one of their contractors they wouldn't pay out...shocking.

 

[AronSearle]

And what was the actual value of goods lost ?

Still not getting it?

You are not making any argument that is unique or new, everyone taking out insurance knows the game.

Most people would rather pay £10 a month, than risk fire/flood/burglary when they don't have 10k sitting in the bank to pay for any potential damages.

Yea, I could save that £10 a month instead and gamble that I won't need to claim for fire/flood/burglary before I can acre the savings. But most people would rather avoid a low chance but high risk gamble and pay a tenner a month for insurance.

I seriously doubt you have only a few grands worth of goods, or you have several thousand pounds in savings that you can stand to loose, if so then congratulations that you are not the type of person that needs insurance.

But don't play the clever boy, you just look silly.

 

[HawkEye244]

Out of interest what's the precise amount you pay per month for contents insurance, when did you start the policy and have you ever made a claim ?

We started in 2000.
We pay aboot £150 (now) per anum for contents. I'll have to check with her indoors.
We were burgled a few years back and claimed. Total award was about 7k.
//www.diynot.com/diy/threads/anyone-been-burgled.292933/

And what was the actual value of goods lost ?

I have a cunning hunch his losses would have been about 7K.

Nope. I've not seen a policy that reinstates the total value of the goods, you generally get a percentage. Generally.