I am totally confused now so I am asking for some advise please? Last year British Gas talked me into increasing my HomeCare Insurance to the full on HomeCare 400 which is supposedly their highest level of care for maintenance and repairs.

I have since realised that I also have a Complete Utilities Cover with Homeserve and I think that both these policies probably cover much of the same thing although here is a huge difference in the premiums (£373.40 British Gas and £192 Homeserve - I am currently paying BOTH).

What I really want to know is do I really need all this cover?? Should I be insuring myself for things like external drains and pipes, Gas and Water Supply Pipe Cover, Electricity breakdown etc etc or am I just throwing money down the drain so to speak? How much home insurance and what type do I actually need?

My view is that, when a brand new boiler will cost you £600, you are better putting the money in with your savings. Other people, particularly those who will fall for the plumber who rubs his head and quotes £1000 to change a washer, sleep better by putting money into these schemes.

A lot depends on whether or not you believe that the insurer will really help when problems arise.