Profpointy
Legendary Member
I can't commit that sort of money. Certainly not enough to make me secure if my uninsured house were to burn down! I'll stick with premium bonds and cross my fingers. I don't understand the stock market and am not prepared to gamble my life savings
Insuring your house is sensible, because you can't afford to replace it and for most of us would mean financial ruin. Anything you can afford to replace, albeit it would hurt somewhat, you should self-insure as it's cheaper. How many thousands of pounds the cut off between - "ouch" and financial ruin is an individual calculation. I've got a lot of stuff which could get nicked, but ensuring it all for all risks would cost a lot, so it's cheaper to take the risk - over the last few years this has saved me enough to replace any one or two big ticket items. I do have contents insurance in case the house burns down and I lost the lot - which would be a little more than a mere "ouch".