Good people of Britain...........PANIC

[AndyWolves]

there is arguably a lack of financial literacy related to why people don't have it. It's something many may "get around to one day" and never do. I also suspect the perception is it is less significant for renters as the LL needs to insure the property/bricks/mortar.
Remember working for a housing assoc and we had a fire in a property xmas eve. family got out, and we moved them into alternative accommodation, and the HA gave them £250 (it was over 10 years ago mind, so 250 would get you a fair bit!)
There is also the fact that it simply isn't affordable, or is way lower on the list of priorities.

I was just thinking about whether they could bundle something into council tax on an opt out basis. It would be really basic cover (but better than nothing) and folk could opt out if they want to do something themselves.

I suppose something similar to what they did with pensions.

 

[EpsomWolf]

Is it ignorance (I don't mean that to sound harsh) or choice why some people don't have contents insurance?

I think it’s a combination of reasons. In the MiL’s case she would’ve either assumed it was covered by the Landlord or just took a chance as it was only planned for a matter of months (it’s a sensitive subject so the detail hasn’t been discussed as yet).

I’d imagine loads of people just take the chance, particularly if money is tight, and some people simply won’t be offered it if the property is in a high crime area and/or not suitably secured/alarmed.

Obviously each person’s reasons and circumstances are their own, but we’ve all got to take some responsibility and live with the consequences of our actions at some stage.

 

[AndyWolves]

Choice in most cases it think. I was just talking to Helen about this and it turns out she doesn’t have any either which I was surprised about as she worries about everything. She’s of the opinion she has nothing valuable anyway, I tried to tell her that everything is valuable if you lose it all and can’t replace it.

Trying to replace everything I own in my house in one go would be a big task. Even if the individual items aren't worth that much now, new sofas, TV, white goods etc soon mounts up. A leak or something when you're away on holiday which wrecks the floors and carpets could be thousands to put right.

 

[Dire Wolf]

I currently rent so pay contents only house insurance, it costs about £5 a month. I don't get how you'd choose not to get it when it is so cheap?

 

[Boozad]

What’s even more baffling was the ex’s family (dad, brothers, uncles) didn’t contribute to private pensions as they “didn’t believe in them”. Mind blowing. I did try to tell them once that they should, they are actually real, but the arguments I got back made me realise I’d be better off spending my time trying to juggle water. I just leave people to it now, you’re never going to change opinions like that.

It’s still raining here too.

 

[pagey]

Wolverhampton Homes offer a contents insurance to tenants, which you can pay weekly, monthly or annually.

 

[EpsomWolf]

Trying to replace everything I own in my house in one go would be a big task. Even if the individual items aren't worth that much now, new sofas, TV, white goods etc soon mounts up. A leak or something when you're away on holiday which wrecks the floors and carpets could be thousands to put right.

Yep, over the years I’ve had 3 claims and they invariably involve a lot more money and faff than people who don’t think it’s worth it realise.

Had a water leak in a flat once, which resulted in new flooring throughout. But, the water seeps through to neighbouring flats and they then start claims against you. Good luck to anyone navigating that minefield without insurance. Important to remember the don’t only pay, they also take the pressure right off by handling it all for you.

Second one was exactly the leak-on-holiday scenario you describe; bathroom ceiling caved in and you can imagine the rest. Serious sums of money involved in that one, not to mention the disruption and amount of time it takes to get things back to normal.

Third was a burglary back in Cambridge - the normal stuff of lap-tops, iPads and Xboxes etc and a bit of cash. You forget what you accrue over time and those things add up. Had a passport taken too and you can use your imagination as to the ramifications of that.

So yeah, needless to say I’m an advocate of insurance.

 

[SSB]

Is it ignorance (I don't mean that to sound harsh) or choice why some people don't have contents insurance?

I too thought it might be harsh when I mentioned it. But reading the Facebook comments the community have really rallied round to try and assist the family which is great.

 

[lemonjelly]

I was just thinking about whether they could bundle something into council tax on an opt out basis. It would be really basic cover (but better than nothing) and folk could opt out if they want to do something themselves.

I suppose something similar to what they did with pensions.

improving access to such products in this way, and like wolverhampton homes do below are amazing initiatives. I know when i worked in housing it was always something we were promoting.
Worth remembering that the vast majority of social tenants, for one reason or another have limited access and confidence in accessing financial products.
It also isn't on their radar most of the time. I have 3 stepdaughters, all of whom are renting. None of them have any insurance policies, and it'd be really easy for them to get some info on what's available.

 

[Tredman]

Is it ignorance (I don't mean that to sound harsh) or choice why some people don't have contents insurance?

When we first moved to the UK we didn't have contents insurance initially through ignorance and then through lack of money. We lived in a new build flat and had a pipe burst - shit cheap materials. Wiped us out totally and had to rely on family for new furniture etc, not something I would ever want anyone to go through.

 

[Sniffer]

What’s even more baffling was the ex’s family (dad, brothers, uncles) didn’t contribute to private pensions as they “didn’t believe in them”. Mind blowing. I did try to tell them once that they should, they are actually real, but the arguments I got back made me realise I’d be better off spending my time trying to juggle water. I just leave people to it now, you’re never going to change opinions like that.

Tried to get a workforce to agree to a personal pension company scheme a few years ago when the company was voluntarily agreeing to match the employees contribution and it was exactly the same. I ended up telling them it was the equivalent of putting a bet on each week at odds at better than evens and winning every time but they still weren't having any of it.

A fair few regretted it a couple of years later when the Pension Provider went public and free shares were given out, much to the joy of those who had joined.

 

[Sniffer]

The Met Office has issued an amber weather alert until 9pm for rain. Flooding and travel disruption likely for an area including Milton Keynes, Oxford, Reading, Bath and Gloucester.

 

[Jinky]

The Met Office has issued an amber weather alert until 9pm for rain. Flooding and travel disruption likely for an area including Milton Keynes, Oxford, Reading, Bath and Gloucester.

I'm in Oxfordshire. It took me 1hr 40mins to drive a 35 minute journey this morning. Every road flooded or closed, and cars broken down everywhere. Walked in to the office and there's barely anyone here (supposed to be a core day when everyone is in!) - apparently I didn't get the memo. Basically sat down at my desk & got told I can go home again if I wish.

 

[Tyrannosaurus Dan]

Daughter sent me this yesterday, I've cropped full names,
View attachment 11728

I know it's probably not the time to be mentioning it, and makes me sound like a bit of a prick, but the spelling in that really bothers me!

 

[Dire Wolf]

I know it's probably not the time to be mentioning it, and makes me sound like a bit of a prick, but the spelling in that really bothes me!

‍♂

 

[Tyrannosaurus Dan]

‍♂

I knew somebody would spot that

 

[Dire Wolf]

I knew somebody would spot that

It's an unwritten rule of the Wolves Forum, if someone makes a typo blunder in their post, someone has to point it out. Especially if it adds irony to their post.

 

[pagey]

I know it's probably not the time to be mentioning it, and makes me sound like a bit of a prick, but the spelling in that really bothers me!

Yeah I mentioned it at the time, the "best firend" was perhaps unfortunate

 

[Del Woppio]

On insurance, I went about 6 months without it a few years ago when I was in the shit. Obviously it's not the tenner a month that puts you in the black or the red, but when you're fucked and you just get yourself in the head space where rent, council tax and food come first and then you're rotating which bills you pay which you don't, you quickly find yourself in a place where something that's important but 99% unnecessary gets chucked along with myriad other less important (but probably more necessary, in day to day life) things. Not a sensible choice and I got away with it, but when you're panicking about food in the fridge your decision making can suffer

 

[Lupo]

Wolverhampton Homes offer a contents insurance to tenants, which you can pay weekly, monthly or annually.
View attachment 11732

Where's that from? They ended the insurance scheme at the end of March and closed all the insurance accounts