Bankrupt friendly home insurers

wildheart83 · 17 June 2011 at 11:39AM

No BB I fully agree with you - we don't have it easy by any means!
I have been very lucky in that I went LILA after being made redundant, and after applying for no less than 600 jobs I managed to find one, albeit at a much lower salary than I was used to.
Had I not already decided to go BR, I would not have been able to accept the job with the level of debt I had.

There's tonnes of info around for BR in England and Wales but not much relating to Scotland, and almost nothing outwith this site relating to the insurance side of BR.

Going slightly off topic (sorry!) were you told straight away about the IPA, BB?

~BB~ · 17 June 2011 at 9:16PM

Hi wildatheart83,
That's another similarity! I was made redundant too and spent 2 years looking for another job and probably made just as many applications!
My present job isn't the best paid but I get by.
I got my IPA during the initial telephone interview. The CAB told me I had to pay my £100 wait a year and that was it. I had no idea about IPA's, or what it meant to have one! I agreed to it almost out of shame and feeling that if I didn't agree to it I'd be in trouble! Just the BR guilt. The lady said her boss liked everyone to pay something, so I just said well ok then if I have to! She said it was ok if I felt that I couldn't pay it down the line I could take payment breaks, I had no idea of the terms it came with!
You're right there isn't much info on Scottish Bankruptcy, and it's so easy to get wrong information from others, CAB included, and there isn't much guidance.
Though this site is great!

wildheart83 · 18 June 2011 at 10:10AM

This is where I start getting worried! I didn't have a telephone interview, I haven't actually spoken to anyone from AiB since I started my application. So i'm worried they're gonna hit me with an IPA at the last minute

~BB~ · 18 June 2011 at 10:43AM

Well I had the initial phonecall and haven't heard anything since. So no six month check up, and that doesn't seem to be unusual.
I should really have telephoned to remind them but I don't want to rock the boat! I feel the less contact I have with them the better.
Worry is a big part of bankruptcy, I'm the same!
When I did my SOA I didn't have any spare money, it was LILA for heavens sake, and I told them my tax credits would be going down soon as well but when they went through things they found a lot of money spare, around £200 a month. I must say I paniced and cried during the call and kept asking her have you included this and that. But she was very nice and said that I probably didn't have the excess every month so how about just paying the minimum allowable IPA, to keep her boss happy, so I guess that's another reason I said yes because I thought I was lucky it wasn't £200! I also felt at least I was paying a manageable bit back, but I hadn't realised the terms that came along with the IPA for three years! If I had I wouldn't have accepted it!
Don't know what to say to you wildatheart, I know I avoid the OR like the plague and they say no news is good news!

dojoman · 18 June 2011 at 11:02AM

Can we please keep this thread on topic

ie BR friendly home insurers, thank you

dojoman · 21 June 2011 at 11:06AM

4$£&*(£$&*(! · 22 June 2011 at 5:28PM

I am still waiting to hear back from Endsleigh. State of play right now is they confirm they do not ask about bankruptcies that happened more than a year ago, I accept that. Their policy documents still state I have confirmed no-one at my address has had any financial judgement within the last six years, I advised them I have declared this at the time of quotation and told no problem.

I have said to Endsleigh I want either new policy documents or an email confirming there is no problem with my policy. I asked for all this a week ago on Saturday, the new policy is due to come into force in four days time and they *still* have not given me a definitive answer so I have registered a complaint. I have also mentioned this thread and said I will be posting updates here so it is in their business interest this is sorted, it could mean the difference between extra or lost custom depending how they handle this issue.

4$£&*(£$&*(! · 28 June 2011 at 11:16AM

Endsleigh got back to me this morning. They said their policy document was worded incorrectly and they are in the process of amending this. For new business they ask:

Have you in the last 12 months been declared bankrupt or entered into an Individual Voluntary Arrangement (IVA)?

Have you in the last 12 months had 2 or more unsatisfied County Court Judgments (CCJs), or any other judgment in relation to debt, against you?

Have you in the last 2 years had more than 3 unsatisfied County Court Judgments or any other judgment(s) in relation to debt against you?

They state these questions are only there in relation to PAYMENT risk, not INSURANCE risk, so will only have an effect if you are paying monthly. I get the impression if you pay annually they are not bothered about any of these.

Now this is interesting. They also state:

The statement 'or been served with any County Court Judgements (CCJs) or any other judgement in relation to debt, within the last 6 years', should not be on your documentation and is not applicable to either the payment risk or the insurance risk and we are in the process of getting this removed.

I read that as they do not see bankruptcy as an insurance risk *at all*. This could help in levering things with the industry. I have also brought to Endsleigh's attention that GoCompare.com asks the bankruptcy question then returns Endsleigh as one of the insurers unable to quote.

If I cannot resolve things single-handed, I'm determined to knock these companies heads together until they see sense and blanket bankruptcy discrimination is losing them business. In GoCompare.com's case they only returned 10 quotes out of over 80 and they clearly have things wrong if Endsleigh are saying bankruptcy doesn't matter and they weren't in that list of 10.

dojoman · 28 June 2011 at 11:49AM

Thanks for the update CS:)

BaldEagle · 28 June 2011 at 2:27PM

I'm sure I read somewhere that Direct Line are, if not friendly, tolerant of bankrupts. Pretty certain the post I read on another forum said that BR status would not invalidate any claims or affect premiums. Just wish I could remember where I saw it now...

Bankrupt friendly home insurers

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