Is contents insurance worth it?

10
Found 12th Aug 2017
It just occurred to me that I never renewed my contents insurance when I moves to my current house.....that was 3 years ago.

Previously I have always had insurance so have paid out for around 20 years of cover.

I have never claimed.

So what do people think? Is it worth it?
Would I really get the money back on things like my old comic book collection? They are not really worth a fortune but they are part of my youth and are worth more in sentimental value.

What are people's experience on claiming for things which you have no proof over? (I built my PC, TV was second hand, most furniture is worthless or got free from somewhere or other).

Any thoughts?

  1. Ask
Groups
  1. Ask
10 Comments

Think about it. If there was a fire and all your stuff was destroyed, could you afford to replace it? All of it at once?

entirely depends what you own and how much you value it. has come in handy for me in the past after getting an expensive bike robbed..

While I didn't have to use it I also got my partners engament ring covered against theft internationally on contents and travel insurance, and it the extension i got protects things like phone out of home as well theft/damage even, covers costs for new flights if we get delayed on anything internationally for the year, covers hotel costs and lost luggage/money. lots of really good options, i think home and contents is a bit less than £250 with joint travel less than £60 for the year which seems good to me..

problem i think a few people have is they just go for the cheapest option.. have to read the policy, know what is covered and go with a company that will help if you unfortunately need it

think we have been with more than for a little while now

p.s. when i had to claim for my bike that was with LV and they were really decent with me, had a lot of modifications they covered as well

p.p.s I have no idea over sentimental stuff, they valued all my individual bits at what it would cost to buy them again if sourceable.. think if you wanted to cover something for sentimentality best speaking to the insurer, you would probbaly agree its value to you and the cost to cover it I assume..

p.p.p.s how come you would have no proof of a computer you built? i have a record of all the components i have bought ?
Edited by: "N1K0LAI_DAN7E" 12th Aug 2017

As the above reply. Insurance is never about value for money but about paying to derisk any potential liability or hazard. If you have enough money to cover that hazard then insurance is not 'worth it'. We have never had contents insurance as we can cover the costs ourselves.

Some insurers provide about five grands of contents cover for free. But it's definitely worth having.

Imagine tomorrow without your clothes, passport, anything to prove who you are, driving licence, wallet (money)......

Your comics would pale into insignificance.

If you don't have much to cover , then the premiums will be cheap, but I would always say to have cover in place. When I was a child a family down the next street lost everything overnight in a house fire, they had only recently moved in and hadn't sorted out contents insurance as a priority, I still clearly remember all the neighbours clubbing together to provide them with emergency clothes to wear .
If you don't have proof of purchase for some items then I would start taking photos now, it also helps you remember what you have if you were to get burgled etc. For example my son has a huge old collection of physical gaming disks and consoles, but without photos we would never remember them all if we had to make a claim, hence a few quick photos and we have proof of them all

For the sake of around £40 per year, it's worth it just for peace of mind for us.

Original Poster

Decided to go for it after getting some quotes and it really wasn't too bad. £75 for the year which also covers things like laptop and camera when out and about.

My in-laws house burned to the ground in March. Buildings & Contents insurance has covered every little thing. If they had no insurance no way on earth would the have £80k for contents and £200k for buildings so would be on the street. Not worth it so always get it - but also make sure it covers you adequately x
Post a comment
Avatar
@
    Text

    Top Discussions