Friday, 9 January 2015

those who find it hardest to pay for home contents insurance can least afford to go without it

Wolverhampton Homes offer incredibly cheap home contents insurance to its customers.

Quite honestly, it is half what l pay personally.  If l was offered a similar deal myself I'd have someone's arm off to get it!

understandably, for people with restricted incomes you need to think very carefully about what you spend.  On occasions people on a budget say they can't afford insurance - or they'll get around to it if their circumstances improve.

In reality, it is those who can least afford to buy home contents insurance who need it the most.

Perversley, if someone is in a position that they have so much money they don't even have to think about what home contents insurance costs them they need it the least.

The question is:  if you lost everything could you afford to replace the essentials?  If the answer isn 'no', then you really need home contents cover -whatever the cost!

as an important footnote please don't get a false sense of security that tenants in the UK are automatically covered by their landlord for leaks.

Who ever the landlord is, what a lot of people don't realise is that for example just because a pipe leaks and a tenant's property is damaged, it does not mean the landlord is legally liable.  The law says pipes leak.  Landlords cannot be expected to routinely check pipes and be responsible if they fail.  Courts recognise that this kind of incident is predictable and the market offers insurance to tenants so they can protect themselves from the consequences.  As harsh as it may seem, as far as the courts are concerned if someone chooses not to insure, and suffers a loss as a result they only have themselves to blame.

Again, l come back to my main point, those who can least afford to pay for home contents insurance are the ones who can't afford to go without it (because they are the ones who can least afford to replace their contents themselves).

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