Search results

Yes, it comes with the building insurance. That was probably a conservative estimate of mine, I would expect the IPs to clear all the debt, but thought I'd err on the side of caution. Or she could just keep the lot and change the PPOR to IO, that way she'd end up with money in her pocket...

Ouch, that would definitely hurt! Didn't your building insurance cover the damage though? I'm pretty sure most of them protect you against some malicious damage. But even then, $18k, while it is a lot, is still surmountable.

Only if it could cost me lots of money. So my car is third party property only. So if I cause a crash, I could lose my car plus $1000 excess, but that's it, nothing that could ruin me financially. For holidays, I try and book with a credit card that gives me travel insurance, but I'm really only...

Insurance companies make money by insurances costing more than they pay out. So on average you're better off by not being insured. Obviously you still want to safeguard against events that could ruin you though. So I would rather face the prospect of potentially being out of pocket a few...

No. I hold the firm believe that you should not insure yourself against anything that's not a major hassle if it occurs. As I feel that I could pay for any default without getting into hardship, I won't get insurance for it.