We're moving house in June and I was looking at our contents insurance policy and I'm wondering if I should actually bother to have contents insurance at all.
The two of us live in a part-furnished one-bedroom rental flat and we're moving to an unfurnished two-bedroom rental house (because of my husband's work). We currently pay £91.16 a year for £50,000 worth of contents insurance with an excess of £50 (except in the case of water leak, when the excess is £350). I got it when we moved here because it seemed like the responsible thing to do.
The most expensive individual thing we own is probably the laptop I'm typing on. Obviously we own furniture (nothing fancy, all bought used), clothes, books (lots and lots...), crockery, etc etc. If the house burnt down or whatever there are some things we'd be sad to lose, but money can't buy you a new emotional attachment to an object. Also, I seriously doubt we'd replace literally everything we own like-for-like. We have around the total insurance value of £50k in our investment accounts right now.
Obviously £91.16/yr isn't a huge amount of money (though it no doubt will go up a bit in the new house), but every little helps and actually administering (renewing, claiming for stuff if we ever need to, making sure we don't void the terms, etc) the policy is a minor hassle I could do without. Would it be irresponsible/excessively risky to not have contents insurance?