Discussions on life after your bankruptcy discharge.

Moderators: TalbotWoods, JaneClack

By obcomp
#289113 Looks like some home insurers are trying to take advantage of those who've gone though bankruptcy. I was looking to renew our home/buildings/contents insurance and both Compare the Market and Confused both asked 'does a person who has been bankrupt live at the property' ... and you can guess the result.

Answering 'no' gave us the option of 30-odd insurers to choose from ... from about £350 upwards. Answering 'yes' gave us less options, in fact just one insurer at £780!!!

In the end I went direct to Co-op Insurance who do not ask the question and have given us a price of £350 which we'll be going with. Yet another example of insurers trying to shaft us! :evil:
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By JaneClack
#289133 Yes that is not fair - especially as going bankrupt does not mean you did not pay your car insurance which is a legally binding thing to do! Am going to do some research into this....
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By TalbotWoods
#289283 I think it is more a case of maximising profit.

A lot of insurers will not touch you if you have a blemish against you now, and those that do normally pay a lot more.

An example (not debt related) a lot of insurance companies ask if you have ever been cautioned or issued with a police warning, if you say yes they refuse to insure you, even if the caution was 30 year ago when you were 18 for having a tiddle on the way home from a damned good night out!

They wont touch you, in case, you may reoffend, despite the fact you spent the past 20 years as a copper!!!!

And that is just for pet insurance!
By disneylover43
#289353 so does the price stay the same if you intend paying in full instead monthly ?
If not , why not ? if you pay full they don't need to worry about their payment do they :roll:
By obcomp
#290453
disneylover43 wrote:so does the price stay the same if you intend paying in full instead monthly ?
If not , why not ? if you pay full they don't need to worry about their payment do they :roll:


Nope, they wanted more for the premium however it was paid. Its a disgrace and really wound me up. :evil:

Anyway, Co-op being the sensible establishment as they are have given us the best deal ... and more importantly, I trust them!
By disneylover43
#290703
obcomp wrote:
disneylover43 wrote:so does the price stay the same if you intend paying in full instead monthly ?
If not , why not ? if you pay full they don't need to worry about their payment do they :roll:


Nope, they wanted more for the premium however it was paid. Its a disgrace and really wound me up. :evil:

Anyway, Co-op being the sensible establishment as they are have given us the best deal ... and more importantly, I trust them!


glad you got sorted anyway ,but it isn't fair and if you have a mortgage you have to have insurance , i was going to do an IVA but having spoken to others who have now completed and IVA they have the same problem with insurances , as we are in business we don't want anymore expense and business insurance is expensive enough without an increase .
I bank with the co-op so might give them a try next time our car/home/business insurance is due .