Insurance — Not Just for “Grown-Ups” With a Mortgage

Peaches James
5 days ago
3 min read

Insurance sounds boring — until something goes wrong.

If you’ve ever had your phone stolen, a pipe burst or a health scare, you know how fast life can shift.

That’s where insurance steps in: not to stop the problem but to help you recover without being wiped out.

Let’s keep it simple.

What Is Insurance?

It’s a safety net.

You pay a little each month (or year) and if something unexpected happens — damage, illness, loss — the company covers some or all of the cost, depending on your policy.

You don’t need every type of insurance under the sun.

But having the right cover at the right time can turn a crisis into an inconvenience.

Types of Insurance: What’s Out There (UK)

Here’s the good stuff — all in one place.

This table gives you the lowdown on what’s available, what’s useful and what sneaky perks or traps to watch for:

Type	What It Covers	Required?	Perks to Look Out For	Quick Tip
Home Insurance	Fire, flood, theft, structural damage	Not legally required	Legal helplines, boiler cover add-ons	Best if you own your place — mortgage lenders often expect it.
Contents Insurance	Your stuff: electronics, furniture, clothes	Optional (great for renters)	New-for-old replacements, accidental damage add-ons	Take photos of valuables and store receipts online.
Car Insurance	Accidents, theft, 3rd-party liability	✅ Legally required to drive	Breakdown cover, legal protection	Use comparison sites yearly. Avoid auto-renewing.
Health Insurance	Private treatment access	Optional — NHS still available	24/7 GP access, mental health support	Speeds things up if NHS waiting times are long.
Life Insurance	Money to loved ones if you die	Optional (but common w/ dependants)	Free GP access, wellness rewards, counselling services	Fix your premium young — it’s cheaper.
Income Protection	Pays if you can’t work due to illness/injury	Optional (esp. if self-employed)	Mental health support, inflation-linked payouts	Know the deferral period — some wait 3+ months to pay.
Pet Insurance	Vet bills, meds, surgery	Optional	Dental cover, emergency helplines	Lifetime cover = more stable for long-term conditions.

What Should You Consider?

Do you rent? Contents insurance is often enough.
Self-employed or freelance? Income protection might give you peace of mind.
Got kids or people who rely on you? Life insurance could be worth exploring.
Low income or rebuilding? Look into basic cover — no need for all the extras.

Start small.

Even one type of cover could be the difference between manageable stress and full-on burnout.

Choosing the Right Insurance

Compare prices – Try sites like MoneySavingExpert, CompareTheMarket or MoneySuperMarket
Check what’s not covered – Exclusions matter more than they let on
Be honest – Any false info could cancel your payout
Monthly vs. annual payments – Monthly is easier on cashflow but yearly is usually cheaper overall