The one kind of insurance that probably is worth it…
Much as I tend to run down just about all kinds of insurance on the basis that they’re pretty much all rip-offs, there is one kind that’s almost always worth having.
That’s, of course, home owner insurance. Why? Well, whilst chances are you could fund replacements for most things that insurance covers, realistically most of us couldn’t afford to write off the cost of our homes. That’s not to say that you should take the first insurance quote that you get or, for that matter, not get further quotes now and again.
As with all insurance, you can get sold a lot more than you need but that’s becoming less likely these days with house insurance as many policies have content amounts as standard that are so far beyond what any normal person needs that most of us can forget about the possibility of under-insurance. One thing to watch is that you should get the buildings and contents insurance from the same company as this neatly avoids any “debate” over which company should cover the damage from broken pipes (is it contents because it’s the contents that are destroyed, or buildings because the pipes are part of the building?).
With some shopping around, you can get this insurance at surprisingly low cost in comparison to what the insurance covers.
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