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Home contents insurance *****
Cost? £135 (Norwich Union - "new for old" cover, includes no claims discount and £60 excess). Average contents policy is £151, although shopping around can reduce this to £87, according to the AA. Standard policies cover loss or damage by fire, theft or flooding.
Worth having? You'd be daft to go without, but one in four households doesn't have it. In particular, many people who rent don't insure their possessions.
Buildings insurance *****
Cost? £258 (Norwich Union assumes 1930's semi, £60 excess and includes no claims discount). Average buildings policy is £209. Shopping around can reduce this to £132, according to the AA.
Worth Having? Going without is a no-no. But don't just insure through your mortgage lender; shopping around offers big savings. You can also cut costs by agreeing to a bigger excess. Paying via a single annual payment typically around 5% cheaper than paying monthly.
Travel Insurance ****
Cost? £175 First Direct (worldwide annual family policy).
Worth Having? Not at that price. Much better to go for one of the internet providers - Insurefor.com will offer the same family cover for £75, or a pared down version for £60 year.
Pet Insurance ***
Cost? For a cat, £45 (Saga basic plan) to £142.50 (Petplan - SuperCat). For a dog, Saga's minimum is £93, while Petplan's Supreme is £343. Prices depend on age, the excess and levels of cover.
Worth Having? If you seriously dote on your cat then it is worth it. For example, to fix a broken leg on a cat costs £1,000. But those on tight budgets will find the average £50 excess policy proves expensive and Moggy is better off staying fit and healthy.
Bicycle insurance ***
Cost? £50 (for a £500 bike).
Worth Having? Half a million bikes are stolen each year, but unless you own a £2,000 bike, avoid a stand alone policy and stick it on your home contents which will add £10-£15 to the premium.
Gas Boiler cover **
Cost? £186 British Gas.
Worth Having? Only if you have a young, but temperamental boiler - most people would be best putting the money in a bank account and paying for repairs as required. If you must have it, Npower offers an £84 policy.
Plumbing and drain cover ***
Cost? £60
Worth Having? If your loo won't flush or the drains are backing up, this will pay for a man with hosing equipment. Claim once a year and you won't be out of pocket - but if you know of a good tradesman stick his number by the phone and cancel the policy.
Supply pipe insurance *
Cost? £16 Home Service. Covers the pipe between the water main and the stopcock. In most cases the water company will fix it free. Separate gas leak insurance can set you back £15.
Worth having? No.
Home appliance cover *
Cost? £138 (three appliances) British Gas.
Worth having? Absolutely not. Why would anyone in their right mind pay £46 a year to cover a microwave that can be bought new for £50? For £222 a year you can cover nine appliances, assuming you have that many.
Car insurance *****
Cost? £350 (comprehensive cover).
Worth having? The one insurance we are legally obliged to buy, but most of us pay too much because we are too lazy to shop around at renewal time. Insurers quote a low first premium and hope for an automatic renewal. Most people will save £50-£80 by switching.
Breakdown cover ****
Cost? £87 (AA).
Worth having? The one policy we all have, but rarely claim on. Great for those with old bangers, but if you drive a modern car consider downgrading your cover. AutoAid offers a great service (including home cover) for £29 - call 01277 235500.
Gap insurance **
Cost? £349 (for three years). Covers the difference between the what the insurer will pay if your car's stolen or written off and the outstanding finance.
Worth having? Only if you've bought an expensive car on finance, and even then, only if you would want a newer car. Spend the money on a decent immobiliser.
Sports injury insurance **
Cost? £59.40 (Pinnacle child policy) to £312 (B&CE Insurance) according to level of cover. Offers lump sum for broken bones and weekly payout to cover lost earnings while off work.
Worth having? Only if you're self-employed (and it runs out after 3-6mths). Largely a waste of cash for the employed. And why should children need it? An income protection plan may be better value for the self employed.
Critical illness insurance **
Cost? Around £2,800 for a policy paying a one-off lump sum of £150,000 if you contract any one of the insurer's specified illnesses.
Worth having? Can be hideously expensive, and prices vary markedly. Regularly over sold as an add-on when people are taking out a mortgage. Use a broker such as lifesearch.co.uk to find a better quote; for £150,000 cover on a 47-year-old, it said NU charged £2,436, while Bupa were £2,820 a year.
Income protection ***
Cost? Around £500 a year to give a 47-year-old an income of £1,500 a month until the age of 60. It pays as long as doctors agree that you are unable to work for health reasons.
Worth having? Cheaper than critical illness, but there can be a hefty "waiting period" before the policy pays out; our quote assumed six months. Again, premiums vary markedly. In our specimen example, Bupa cost £363 a year while NU charged £579.
Payment protection insurance *
Cost? £140 (Goodfellows - Income Protection) to £490 (Sainsbury's Bank) is the annual cost of protecting a £7,500 loan. Will pay premiums over the three-year life of the loan if made unemployed.
Worth Having? Standalone policies can be worth it if your employer is vulnerable to an economic downturn. But the majority of plans sold by banks and loan companies are a waste of money, especially if you are self-employed or already unemployed.
Wedding insurance **
Cost? £100 to £300 (British Insurance Brokers Association). Covers the bridegroom breaking a leg or the marquee burning down.
Worth having? If it's going to be a very fancy do, perhaps it's worth it. But the average couple can probably do without this additional cost.
Life insurance ****
Cost? For a £250,000 policy covering both partners should either die in the next 15 years, the Prudential charges £1,070. Legal & General is cheaper at £869 while Scottish Provident is around average at £1,225.
Worth having? This policy will pay out while the children are still at home. But before signing up, the parents should check on life cover provision at their workplace and through pension plans.
Mobile phone cover *
Cost? The Link charges £96 for a typical policy for each contract phone. Pay-as-you-go phones for the children cost £19 to £49 according to the phone's value.
Worth having? Only if you are very careless, keep strictly to the policy conditions and are prepared to be patient in claiming. It is generally cheaper to buy a new phone. And most companies will give a reconditioned phone to contract customers whose phone is lost or stolen.
Private medical insurance **
Cost? Market leader BUPA quotes £1,662 for its most comprehensive plan - £1,285 if the family pays the first £250 of any claim. Other, less well-featured, policies can bring the cost below £1,000.
Worth having? Much depends on your view of where the NHS is going. The cover should ensure no queues or waiting lists. Hospital in-patient care can be better. But it's far from necessary.
Garden insurance ***
Cost? £24.84 (Saga - only available as an add-on to its home insurance). Insures items such as plants, lawns, rockeries, ponds, pergolas and gazebos for up to £1,000 against a range of incidents including theft and malicious damage.
Worth having? Cover for outbuildings (sheds, greenhouses etc) is standard with most buildings insurance policies, and most home contents policies also offer some cover for possessions in outbuildings and those in the open, says insurer esure. So most people probably won't need garden cover.
Dental insurance **
Cost? Our family would typically pay £399 at Denplan assuming they were all in top dental health. This is not technically insurance but a form of maintenance contract which spreads costs monthly. The fees pay for almost all care.
Worth having? Children can normally find free NHS treatment. Adults can avoid sudden big bills should they need major dental care.
Alien abduction insurance *
Cost? Yes, it does exist. A family is covered for life for a one-off £100 premium. The payout, assuming you survive the abduction and can claim, is £1m. It's only available from insurers GRIP.
Worth having? Depends on your view of aliens and whether you believe they will scoop humans up into spaceships and then return them to Earth. So far, no claims have been successful.
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