| T O P I C R E V I E W |
| Widge |
Posted - 08 October 2011 : 14:20:00
Hi, me again.
Delighted that I have secured a rental property despite my bankruptcy, I have just encountered another obstacle and wondered if anyone has some advice or recommendations?
I need to get home contents insurance for my new home. Upon logging on to my existing insurers web site to get an on-line quote, if I have been declared bankrupt they say "unfortunately we can't offer you home insurance at this time."
Yikes! Does this mean I can't get home contents insurance because I am declared bankrupt?
Can anyone explain why they need this information and how it would affect my insurance premium?
Widge x |
| 15 L A T E S T R E P L I E S (Newest First) |
| Widge |
Posted - 09 October 2011 : 22:15:31
So I guess they'll see if I'm causing any 'trouble'!!! |
| Widge |
Posted - 09 October 2011 : 22:11:24
That makes sense I suppose. Fortunately my landlords live in a farmhouse and I'm renting a converted barn on the farm. I've been very lucky to find this place...although I find that the bus service into work is infrequent to say the least - one bus on a Tuesday and one on a Thursday - thank goodness I pursuaded the OR to let me keep my car!!! |
| Niobe |
Posted - 09 October 2011 : 18:44:05
Isn't that always the way??????
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
xxx |
| Skippy |
Posted - 09 October 2011 : 18:20:02
I read on another forum that the reason that some insurers don't like bankrupts is that there have been cases in the past where expensive items have been taken by the OR, and then claims are put in to the insurance company saying they are lost. Unfortunately the minority making it bad for the rest of us.
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 and I'm now looking forward to getting married in September 2012 - I'm proof that you can go BR and come out the other side. |
| Niobe |
Posted - 08 October 2011 : 22:50:52
No reason why you shouldn't ask Widge - I'm sure Essie won't mind!
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
xxx |
| Widge |
Posted - 08 October 2011 : 22:27:51
Sorry, shouldn't have asked - guess I just want like minded folks to talk to!
Signing off now x |
| Widge |
Posted - 08 October 2011 : 21:56:42
Essie tell me your story - Are you still BR if you were BR in March 2011. I was on 3rd March. And like you tried to entertain until I realised I couldn't do it any more in Sept/Oct 2010. |
| Widge |
Posted - 08 October 2011 : 21:14:08
Some companies are BR friendly but the majority haven't learned yet that we are the LEAST risk!!!
I think that they think we are high risk because of money problems and that we're bound to be criminals with fraudulent tendancies!!!
I'm not - I just want peace xxx |
| Essie |
Posted - 08 October 2011 : 21:07:05
When I took out the car insurance 3 months in to BR I declared it and the lady on the phone said it was fine. We must just be seen as dodgy and a bad risk so more likely to make up claims?!
Finally got head out of sand in October 2010
BR March 2011
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| Widge |
Posted - 08 October 2011 : 20:51:44
btw Essie, I'm insured with Tesco (b/f bankruptcy) and they didn't ask the question upon renewal for my current place. My partner phoned them up anonymously asking how bankruptcy would affect an application for insurance. They said an outright NO. When questioned why they did not have an answer why, it's just on the 'form' and it creates an automatic 'NO'.
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| Widge |
Posted - 08 October 2011 : 20:44:40
Yeah Essie, It's wierd how a bankrupt is suddenly such a high risk for home insurance - I just don't get it. Can anyone please explain that if you're bankrupt that this should cause an insurance company to reject you outright?
I'm confused. I can understand getting loans etc but contents insurance, eh?
Widge |
| Essie |
Posted - 08 October 2011 : 20:18:13
Hiya,
I took out my contents insurance with direct line, then went BR. They reinsured me ok this year (I'm still BR). I just had to pay upfront (plus they didn't ask me if I was br or ask me any questions about financial stuff so I didn't tell).
It's all really strange. I got car insurance with tesco, they didn't care about the BR (had to pay again in one go) but they won't insure BR people for contents insurance. What's the difference?
Finally got head out of sand in October 2010
BR March 2011
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| Richard P |
Posted - 08 October 2011 : 19:51:21
yes but they cant really say "oh yes we like you to rent the property but dont like the risk of insuring you"
if your money is good to rent you should also be good to pay insurance.
I also think home let insurance shows as good tick on credit file. so will help increase your rating
his credit rating is after your BR
Good Luck Richard,
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| Widge |
Posted - 08 October 2011 : 18:29:04
Thanks Richard (yet again!). Yes I had my referencing through Homelet and they know my situation. They are willing to provide insurance I think but that might be a different 'department'.
Another thing - the landlords agent needs the policy to be in joint names with me and mine. Will this then affect his credit rating (as he would have an association with me)? |
| Richard P |
Posted - 08 October 2011 : 17:35:17
widge i think i read back that you had an assesment under taken by tenancy check or similar prior to approval to move into the new house, i had my assesment by sure let, they were also able to provide contents insurance,
Go back and speak to your letting agent they may be able to help.
As stated Co-op are also very good if you have bank accounts with them
Good Luck Richard,
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