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kramsenrab
Junior Member
United Kingdom
199 Posts |
 Posted - 27 July 2009 : 09:50:41
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We went BR in Oct last year and moved into rented accomodation letting the mortgage company have the house. I called our home insurers (Hiscox) to let them know of the change of address and to say that I no longer needed buildings cover. As they ran through the new quote I was asked if I had ever been BR. I said yes and was told that they could not insure me and I should have let them know. I didnt realise this and argued that I had never made a claim and felt I was being unfairly discriminated against due to BR. I was eventually called by an underwriter to say that as I was an existing client they would continue to provide insurance but that the excess would be increased, to £5000!! I told them where to put their excess and cancelled the policy explaining that as I did not own anything that would total £5000, in the event of a burglary, I would not be able to afford to claim. Weeks later we were burgled and lost about £3000 total (bikes, kids games consoles, games, ipods etc)
Sorry about long post, just wondered if anyone else has had similar problems with insurance, and how long we have to 'pay' for being BR. All the new searches I have tried ask about BR up front and with one comparison site, 38 out of 40 companies would not even quote me 'due to BR status'! Talk about kicking people when they're down............
3 mths til discharge  |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 27 July 2009 : 10:18:58
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quote:
Originally posted by kramsenrab
Sorry about long post, just wondered if anyone else has had similar problems with insurance, and how long we have to 'pay' for being BR.
We will have to pay for being BR for the rest of our lives, which is why BR is not something to be taken lightly. Most people just look at the fact that their debts are written off and that they are discharged from BR in 12 months without realising the long-term ramifications.
We will need to answer 'yes' to any creditor who asks whether we have been BR regardless of whether you are discharged or not. This means that mortgage companies, some insurance companies and banks could refuse to accept our business in the future or charge a premium.
I don't have any experience with being refused insurance but I know some of the other people on this board have used other companies.
Have you tried the Co-op? They have a BR friendly bank account so maybe their home insurance is also ok. |
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