Contents insurance - worth it?

quad_red

We're in the process of buying a house and so, for the first time, I've got to consider house insurance!

Now, for the mortgage, we obviously need to insure the house.

But we're not sure about contents. We've got advice from a few people stating that the it's better to just gradually put away money into a 'rainy day' fund than pay contents insurance.

If you ever claim it, the premium is so massively increased, that it doesn't make sense in most cases.

Any opinions on this?

Thanks,
Quad

Mort5000

I'd judge it relative to the area you're living.
If there are a high number of break-ins, get insurance, if not, go the "personal insurance fund" route you've described.
It is really to cover the things that you'd not realistically be able to save for covering, e.g.
- water damage destroys your eur50 000 painting
- thief takes the eur100 000 wedding ring

oldyouth

Household claims don't really have as big an impact on premiums as they do for motor claims. Unless, of course, you have a number of them.