Save money on insurance?!

PGM

I've spoke to a few people that have made cut backs by not renewing their insurance polices. Their home buildings or contents, or both!

Seems very risky for a small saving?? Credit crunch is obviously hitting some hard.

CJC

I've had plenty of times my life when money's been tight but I've never skimped on home insurance. Seems like a saving too far to me, even if over the years I have paid out more than I've claimed.

steveJ

CJC wrote: »

I've had plenty of times my life when money's been tight but I've never skimped on home insurance. Seems like a saving too far to me, even if over the years I have paid out more than I've claimed.

Yep, I have to second that. Just aint worth the risk of saving a few quid in case that fateful day might happen. Even if you have to eat less and walk more, don't scrimp on the insurance.

Buff

I'ts not even THAT expensive for insurance. There'll be other things to cut back on and Insurance for me would be one of the last.
You can phone mortgage companies and ask if you can go on interest only for a few months to claw some cash back (this was offered to me when I was struggling when my mother in law passed away and we needed cash for a nice farewell).

Renewing Insurance can sometimes be a bad idea without first checking if you can get a better deal elsewhere. I had been with Barclays home insurance for 3 years and each year they increased the premium, only by a few quid but the principle of it made me leave.

I used go compare and am now paying half the premium (£19 a month) for full home contents / buildings which covers me for pretty much everything that could go wrong!

I also think that having home insurance is part of a contract you sign with the mortgage provider - i'm positive it was a MUST when we signed for ours.