how much is your insurance? (home/life)

[nicole_]

were taking the plunge and buying our first home and weve suddenly got cold feet about how much more its going to cost compared to renting
so how much is your building+contents insurance (and what type of house you have) and roughly how much is life insurance?!

 

[Rosie06]

hiya

our home ins is 19 p/m we have a 3 bed end terrace with garage

our life is 89 p/m but it includes joint life & critical illness for our mortgage a life & critical illness policy each for 50k family cover(this is additional) and income protection for both of us too we are both 28 and dont smoke and it covers us till we are 80

it is alot of cover we have but im a freak and just like to make sure that if anything did happen LO & OH would be looked after financially to be honest even if you dont own your home and you have children you still should have some sort of life cover

 

[nicole_]

Thanks for the reply we never thought of life insurance till getting a mortgage but your right it's a good idea

 

[moomin_troll]

u really should get life insurance even if u dont have a mortgage. i pay £23 amonth for my life insurance, but ive gone for a large pay out aswel as life ive got critical insurance too.

ive just bought my house, 4 bed detatched and its around £120 a yr home insurance...not counting content as ive got that now n im renting...that was £130 for a yr

 

[xxClaire_24xx]

ive had life insurance since I was 19 when Mia came along

we have critical and life insurance joint its £58 that would pay off our mortgage and leave the girls £50k each covered til we are 60 for now

and out house and contents is £38 a month, excess is £50 we have 3 bed mid terrace house, it all really depends on the type of house and price you buy and what you want covered, my papa left me his stamp collection which I had valued at £58k last year so we have extra cover on that too xx

 

[Kitten-B]

Our house & contents is £9 per month for a 3 bed terrace (found Direct Line to be so cheap in comparison to others and great level of cover).

We both have good Death in Service cover through work (several times salary & DH's even has a widow's pension) so haven't felt the need to take out separate cover. Worth checking as a lot of company's have a blanket policy and i never even noticed until we thought about life insurance when we bought our house.

 

[Rosie06]

the other thing to look at when taking life & critical illness policies is some companies actually cover any children you have aswell (its an awful thought).

also when taking out your home insuarance is dont always go for the cheapest policy as you might find your not covered for very much at all when the time comes if you need to claim

 

[moomin_troll]

the other thing to look at when taking life & critical illness policies is some companies actually cover any children you have aswell (its an awful thought).

also when taking out your home insuarance is dont always go for the cheapest policy as you might find your not covered for very much at all when the time comes if you need to claim

my life insurance covers my boys for critical illness, so i would get £20,000 to look after them, the thought of getting money for them dying makes me very uncomfortable

 

[Rosie06]

i think the idea of it is so you have the funds available to pay for private medical care for them its not a nice thought at all is it

 

[xxClaire_24xx]

Our house & contents is £9 per month for a 3 bed terrace (found Direct Line to be so cheap in comparison to others and great level of cover).

We both have good Death in Service cover through work (several times salary & DH's even has a widow's pension) so haven't felt the need to take out separate cover. Worth checking as a lot of company's have a blanket policy and i never even noticed until we thought about life insurance when we bought our house.

we had direct line and tried to claim for our tv that broke and they wouldnt pay out xx

 

[ellie27]

Buildings & Contents insurance, 3 bed semi, Glasgow about £150 per year (£13 per month)

 

[SarahJane]

Just a word of warning as I work in the industry

You get what you pay for... cheap generally means rubbish payout rates. Choose a really reputable company and pay a little bit more to get protection which will pay out!

Also re death in service, lots of these have a clause where employer can opt out of paying so are not guaranteed. If you rely on them for mortgage protection and then the employer removes the benefit in 10 years time, the policy you will buy at that time will be massively more expensive and cover less things than today.

Also DISB is there to replace income of person who dies, if you used this to repay your mortgage, who would pay the rest of the bills, childcare etc?

PS My home insurance is with Aviva and I pay through the roof for it(£50 b/contents) The reason being Aviva paid out easily and quickly following a burglary and when I changed insurers to Royal Sun Alliance as it was cheaper my house was hit by lightening it was a horrific experience!!

 

[katieandfras]

Our Home Ins is £42 per month for a 3 bed terraced with garage f and back garden etc

Our life insurance is £56 a month joint claim and id something happens to either of us the mortgage is paid off in full staright away (£100 000)

 

[foquita]

my life insurance is £6 a month, and contents insurance is £20 for a two bed flat in glasgow. we have seperate insurance for our tv as well, it's £7 a month

 

[hawalkden]

£19 a month we rent a 2 bed mid terrace house..

OH life insurance is £27 a month. I tried to apply but due to diabetes and being in a Coma within the last 2 years I can't get it yet!

 

[Loui1001]

Our home insurance is £27 a month for building and contents (detached bungalow). We could have got a cheaper policy but as a previous poster has already said it can be a false economy as the chance of pay out is less. Our life assurance and critical illness cover is about £70 a month

 

[xxembobxx]

My life insurance is £8 per month, OH doesn't have any although I believe I would manage financially should something happen to him whereas if I wasn't here he would have childcare and lots of financial worries so I wanted to make sure he would be ok for at least a couple of years.
House insurance is £240 a year for contents only as we rent. I'm starting to think I should have shopped about a bit more looking at others rates!
When we had a mortgage we were sold lots of insurance which just wasn't necessary and I cancelled these pretty quickly. OH had an accident policy which only covered him should he break a bone, not really any use if he was laid up for another reason - I cancelled that also.
We were never told when we got joint life insurance that you can get a "first death" policy which would pay out on the death of whoever died first. Should we both have died the money would go to the kids. It worked out a LOT cheaper than having 2 separate policies which is what we were sold.

 

[Bevziibubble]

Life insurance £13 and home insurance £31

 

[bubblychick]

Life insurance is £20 (separate policies for me and Oh at & 10 each) a month and home insurance is about £10 something we rent so only have contents insurance but we have accidental damage cover on certain items becuase of how kids can be.

 

[Dommy]

We pay premium ~$8,400/year for four.