I view insurance as a necessary and unavoidable expense, just like rego if you own a car. I rent so only have contents insurance as well as car insurance. It's a huge expense for me each year but if this house were to burn to the ground tomorrow, I definitely don't have sufficient funds in savings to go and replace everything.
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11-07-2014 19:38 #11
11-07-2014 19:39 #12
11-07-2014 22:22 #13
When you add up all the little things you will be surprised how much dollar wise you actually own.
I would say family of 4 will have at least 30k worth of stuff, even if renting ( so only contents). Obviously the expensive stuff: Appliances, TV's, video games, iPads, computers, CD's. Then little things like knifes, forks, plates, pots, pans, clothes, cleaning/ hygiene products, blankets, sheets...
100 CD's at $20 a pop is $2000 just on one thing.
11-07-2014 23:02 #14
I say it all the time contents insurance, home insurance, car insurance ect is a MUST not an optional thing I don't understand why people don't have it. I have been in some bad finical times but have never gone without insurance you can get it pretty cheap my first contents insurance policy was under $30 a month
11-07-2014 23:04 #15
I wish insurance was cheap.
In nth qld. We have had insurance price rises by over 200% in a year.
There was one house in Townsville that it went 1200 a year to 20 000 a year.
Please don't think it is easy or affordable for every person.
We manage to keep our up but it is really hard when they just keep going up and up and up. We have gone from no excess to having a huge excess.
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11-07-2014 23:24 #16Senior Member
- Join Date
- Sep 2005
I don't have contents insurance. Won't be getting it either.
11-07-2014 23:33 #17Senior Member
- Join Date
- Nov 2011
We have it as we couldn't afford to replace everything we own if our house were to burn down... But honestly, when things get tight it's the first thing I want to dump.
So I can totally understand why people don't have it. That money could be be spent on formula or nappies for a struggling family.
12-07-2014 05:35 #18
We have home, contents, portables, health, life, income protection and permanent disability insurances.
I add up how much it all is and feel a bit sick.
Once bub arrives and my income decreases, I might have to rethink some of them but the house will always be insured if nothing else. Simply because is couldn't afford to pay a mortgage on a house I no longer have, and pay either rent or second mortgage to live somewhere else
12-07-2014 05:55 #19
I only have 3rd party car insurance and only got health insurance again because of an operation i need next year. Otherwise nothing else is needed. I had a car accident where it was my fault and i had to pay $620!!!!! I had only just started a casual job and didn't have the money to pay it. I had to borrow money off my sister just to pay the excess. I was so embarrassed. It really put me in financial hardship. Excess had gone up $120 in a few years!
12-07-2014 05:56 #20
And ambulance cover when our health care card isn't valid
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