4 ms·

I insure for 3 things: House - as that would be a huge surprise bill. I dont bother with contents. It would suck replacing everything but you can do that over

I insure for 3 things: House - as that would be a huge surprise bill. I dont bother with contents. It would suck replacing everything but you can do that over time and much on the cheap. House you cant. Car - I get comprehensive for 2 reasons. Its good to be able to let friends/family grab the car when visiting and more importantly there is potentially huge liability as while I drive a cheaper car, what happens if you get unlucky and are at fault with a top end Lamborghini etc. TPD: If Im disabled I want a payout to help life and this comes fairly cheap as part of our super in Australia. As for their advice: "set the highest possible excess for your insurance" I used to do this as I'm happy to pay a some hundreds to fix something on the car and not deal with insurance but for some years it doesn't seem to make and significant difference when I play around with high thresholds. And some missing advice is credit card insurance. A bunch of cards will give you 3 months insurance on new purchases and travel insurance. If you're financially responsible it makes sense to use a low fee credit card and get those benefits so if you do drop that new phone 2 months in your covered.

bonzini 5y ago
> what happens if you get unlucky and are at fault with a top end Lamborghini That would be liability insurance, not comprehensive, wouldn't it? Comprehensive insurance covers damage to your car (could be glass, vandals, natural events, hitting something with your bumper, etc.)
- Gustomaximus 5y ago
  That's correct. I also like to be able to lend people my car and not have a 'who pays' situation if there's an at fault accident hence comprehensive.
  - bonzini 5y ago
    At least in my country, at fault accidents give you a worse premium for the next few years (one or two right now, but more than ten if I had an accident on the years immediately after I got my first insurance). So you would still end up paying something.
sumedh 5y ago
> Its good to be able to let friends/family grab the car Dont some companies have conditions which say only the people who are on the policy can drive the car?

bonzini 5y ago

> what happens if you get unlucky and are at fault with a top end Lamborghini That would be liability insurance, not comprehensive, wouldn't it? Comprehensive insurance covers damage to your car (could be glass, vandals, natural events, hitting something with your bumper, etc.)

Gustomaximus 5y ago
That's correct. I also like to be able to lend people my car and not have a 'who pays' situation if there's an at fault accident hence comprehensive.
- bonzini 5y ago
  At least in my country, at fault accidents give you a worse premium for the next few years (one or two right now, but more than ten if I had an accident on the years immediately after I got my first insurance). So you would still end up paying something.

sumedh 5y ago

> Its good to be able to let friends/family grab the car Dont some companies have conditions which say only the people who are on the policy can drive the car?