Discussion
THIS IS AIMED AT CONTENTS INSURANCE
in twenty years - I have only ever claimed once on my home insurance . . but have paid out thousands in premiums which I will never ever see again
on the basis of the law of averages (not sods law lol) - would I not be better increasing my excess to say £5k and taking the risk - hopefully reducing my premiums in the process?
Or am I just being stupid?
in twenty years - I have only ever claimed once on my home insurance . . but have paid out thousands in premiums which I will never ever see again
on the basis of the law of averages (not sods law lol) - would I not be better increasing my excess to say £5k and taking the risk - hopefully reducing my premiums in the process?
Or am I just being stupid?
khushy said:
THIS IS AIMED AT CONTENTS INSURANCE
in twenty years - I have only ever claimed once on my home insurance . . but have paid out thousands in premiums which I will never ever see again
on the basis of the law of averages (not sods law lol) - would I not be better increasing my excess to say £5k and taking the risk - hopefully reducing my premiums in the process?
Or am I just being stupid?
Great idea until you get burgled and they nick stuff valued at £5050.
in twenty years - I have only ever claimed once on my home insurance . . but have paid out thousands in premiums which I will never ever see again
on the basis of the law of averages (not sods law lol) - would I not be better increasing my excess to say £5k and taking the risk - hopefully reducing my premiums in the process?
Or am I just being stupid?
Great idea until you get burgled and they nick stuff valued at £5050.
Ham_and_Jam said:
khushy said:
THIS IS AIMED AT CONTENTS INSURANCE
in twenty years - I have only ever claimed once on my home insurance . . but have paid out thousands in premiums which I will never ever see again
on the basis of the law of averages (not sods law lol) - would I not be better increasing my excess to say £5k and taking the risk - hopefully reducing my premiums in the process?
Or am I just being stupid?
Great idea until you get burgled and they nick stuff valued at £5050. in twenty years - I have only ever claimed once on my home insurance . . but have paid out thousands in premiums which I will never ever see again
on the basis of the law of averages (not sods law lol) - would I not be better increasing my excess to say £5k and taking the risk - hopefully reducing my premiums in the process?
Or am I just being stupid?
Nevertheless it will come down to appetite for risk, and the OP must decide for himself.
khushy said:
in twenty years - I have only ever claimed once on my home insurance . . but have paid out thousands in premiums which I will never ever see again
on the basis of the law of averages (not sods law lol) - would I not be better increasing my excess to say £5k and taking the risk - hopefully reducing my premiums in the process?
Or am I just being stupid?
Insurance is designed to make money for insurance companies. That's why they do it. So unless insurance is compulsory, like car insurance, it's a question of 'How lucky do you feel?'on the basis of the law of averages (not sods law lol) - would I not be better increasing my excess to say £5k and taking the risk - hopefully reducing my premiums in the process?
Or am I just being stupid?
For over 20 years I didn't bother to insure my house or contents. But as you get older, you get more risk-averse and, hopefully, richer. So now I donate about £250 a year to an insurance company to help them pay for their staff. I'm a charitable fellow
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