top4718 Posted August 14, 2011 Share Posted August 14, 2011 I think if most people looked in detail what they pay per annum in insurance it will be way to high, a friend of mine saved himself £400 recently by shopping around and correctly inputting info. Most insurers these days charge high renewal premiums and have that many get out clauses on things they are likely to have to pay out on, they are vitually worthless. A friend of mine cannot get travel insurance because he has a serious illness, the sole reason is there is a good chance he will actually make a claim...........so whats the point. Are you over insured or do you agree with these parasites??? Link to comment Share on other sites More sharing options...
Eater Sundae Posted August 14, 2011 Share Posted August 14, 2011 I think if most people looked in detail what they pay per annum in insurance it will be way to high, a friend of mine saved himself £400 recently by shopping around and correctly inputting info. Most insurers these days charge high renewal premiums and have that many get out clauses on things they are likely to have to pay out on, they are vitually worthless. A friend of mine cannot get travel insurance because he has a serious illness, the sole reason is there is a good chance he will actually make a claim...........so whats the point. Are you over insured or do you agree with these parasites??? You have to take out some types of insurance, by law, eg 3rd party motor insurance. You sometimes have to take out insurance as a condition of a contract, eg buildings insurance as a condition of a mortgage, or holiday sickness insurance as a condition of a package holiday, or professional indemnity insurance associated with your business. The rest is up to you. You can weigh up the likelihood of something happening and how serious and costly it might be against the cost of the necessary insurance. My view is that if I can afford to put my hand in my pocket and pay to replace/repair/resolve the problem, then I will not bother with insurance. However, if the potential cost of recovery from such a problem might be prohibitively costly, then I'd insure against it. I'd be paying for peace of mind, and in some cases insuring against risk of bancrupcy. The insurance companies have to make a profit, so there will be a cost. I'd still shop around, though. Link to comment Share on other sites More sharing options...
Total Chaos Posted August 14, 2011 Share Posted August 14, 2011 I pay just under £10 per mth for my house contents,which is reasonable. Link to comment Share on other sites More sharing options...
poppins Posted August 14, 2011 Share Posted August 14, 2011 I pay just under £10 per mth for my house contents,which is reasonable. Reasonable I'd say unbelievable. Link to comment Share on other sites More sharing options...
mike84 Posted August 14, 2011 Share Posted August 14, 2011 Reasonable I'd say unbelievable. £7.89 per month for my content insurance with Direct Line. Link to comment Share on other sites More sharing options...
Bloomdido Posted August 14, 2011 Share Posted August 14, 2011 Insurance is fine until you need to make a claim. Then the insurers don't want to insure you any more. I pay over £100 a month for car, buildings and contents and my car is only a 1.3. Link to comment Share on other sites More sharing options...
Tenants Posted August 14, 2011 Share Posted August 14, 2011 Has there ever really been a point to Insurance (other than making a loss) By taking insurance, you are basically gambling on the fact you will break, lose / have something stolen Insurance companies run a business (and a very profitable business), they aim at taking more money in than giving it out (this is a good business model for any company) Rather like placing your bets on all the numbers (apart from a few), insuring your self is affectively the same model * There's a fairly good chance that I will break / damage / get this stolen * but for every year that I don't, I have lost lots of money (when you lose gambling this way, you lose it all) - Insurers are effectively acting like the "house" when gambling I've never particularly liked insurance companies (regardless that my partner worked for one ... grrr). But in some cases, you have to air on the side of caution * what happens if I hit a car that I cant afford to pay for => That nice porsche 911 that keeps parking over my drive way for instance - In these cases , it become obligatory by law (and the house wins no matter what you do) Where I can, I avoid any sort of insurance and save the money that I didn't spend on insurance to insure my self (paying for the item again in the future if I need to) Link to comment Share on other sites More sharing options...
Total Chaos Posted August 14, 2011 Share Posted August 14, 2011 Reasonable I'd say unbelievable. Nope, its from yorkshire bank plc Link to comment Share on other sites More sharing options...
Tradescanthia Posted August 14, 2011 Share Posted August 14, 2011 The people who can least afford to pay the premiums are the ones who need the insurance the most. Think about it................ Link to comment Share on other sites More sharing options...
barleycorn Posted August 15, 2011 Share Posted August 15, 2011 I think if most people looked in detail what they pay per annum in insurance it will be way to high, a friend of mine saved himself £400 recently by shopping around and correctly inputting info. Everyone should shop around to find the best deal Most insurers these days charge high renewal premiums and have that many get out clauses on things they are likely to have to pay out on, they are vitually worthless. You should always read through any policy before taking it out. This will ensure you do not fall breach of any exclusions. A friend of mine cannot get travel insurance because he has a serious illness, the sole reason is there is a good chance he will actually make a claim...........so whats the point... Can you blame them? Your friend is high risk and likely to cost them thousands in costs. If you don't want insurance then don't get it. If this means you can't drive a car or buy a house then tough. Simple. jb Link to comment Share on other sites More sharing options...
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