Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Mr Poves
    • By Mr Poves 11th Oct 16, 11:11 PM
    • 221Posts
    • 83Thanks
    Mr Poves
    Van insurance company gone bust !
    • #1
    • 11th Oct 16, 11:11 PM
    Van insurance company gone bust ! 11th Oct 16 at 11:11 PM
    Hi , I'm in a bit of a pickle at the moment , the insurance company "ENTERPRISE" have gone bust , this all started back in august , basically my insurance broker have advised that I won't have cover from the 26th oct , I have had to keep paying the monthly payment to close brothers who funded the policy , and are now insisting that it still must be paid in full as per the credit agreement , which I do understand , however I feel like I'm being shafted and left to deal with someone else's problem .
    The fscs will cover me for £415 according to my broker , but I owe £450 to close brothers which see's me out of pocket straight away , plus the fact I have paid a total of £370 out of the total £720 premium for just 4 month's of cover !
    And on top of this I have to pay for alternative cover from elsewhere as of the 26th of oct .
    Can anyone advise please ?
    Last edited by Mr Poves; 11-10-2016 at 11:14 PM.
Page 1
    • bris
    • By bris 11th Oct 16, 11:21 PM
    • 6,147 Posts
    • 5,106 Thanks
    bris
    • #2
    • 11th Oct 16, 11:21 PM
    • #2
    • 11th Oct 16, 11:21 PM
    Isn't your finance company liable under S75 protection? Phone CB finance and tell them you want to start a S75 claim for the insurance going bust. See what they say, I doubt insurance services are exempt but I could be wrong.
    • Mr Poves
    • By Mr Poves 11th Oct 16, 11:28 PM
    • 221 Posts
    • 83 Thanks
    Mr Poves
    • #3
    • 11th Oct 16, 11:28 PM
    • #3
    • 11th Oct 16, 11:28 PM
    Thanks for that bris but I'm not really savvy with things like this , just googled s75 and it seems to be credit cards ? I pay direct debit .
    And the broker took the deposit , not close brothers .....
    • Fat Walt
    • By Fat Walt 11th Oct 16, 11:34 PM
    • 602 Posts
    • 327 Thanks
    Fat Walt
    • #4
    • 11th Oct 16, 11:34 PM
    • #4
    • 11th Oct 16, 11:34 PM
    Thanks for that bris but I'm not really savvy with things like this , just googled s75 and it seems to be credit cards ? I pay direct debit .
    And the broker took the deposit , not close brothers .....
    Originally posted by Mr Poves

    Yeah, you bought 12 months insurance and took a finance deal out to pay for it.
    • mije1983
    • By mije1983 11th Oct 16, 11:37 PM
    • 2,157 Posts
    • 17,234 Thanks
    mije1983
    • #5
    • 11th Oct 16, 11:37 PM
    • #5
    • 11th Oct 16, 11:37 PM
    S75 covers all purchases made with credit so it includes finance agreements. It's just credit cards are the most usual way people get S75 protection so that's mainly what you see when you google it.

    http://www.moneysavingexpert.com/shopping/section75-protect-your-purchases

    From that link:

    Similarly, if you're claiming for a sofa bought with instalment credit, your claim's with the finance company (the one you repay to)

    • molerat
    • By molerat 12th Oct 16, 12:18 PM
    • 15,025 Posts
    • 9,379 Thanks
    molerat
    • #6
    • 12th Oct 16, 12:18 PM
    • #6
    • 12th Oct 16, 12:18 PM
    Although "van insurance" could imply a B2B transaction so s75 would not apply.
    www.helpforheroes.org.uk/donations.html
    • wealdroam
    • By wealdroam 12th Oct 16, 2:11 PM
    • 17,419 Posts
    • 13,999 Thanks
    wealdroam
    • #7
    • 12th Oct 16, 2:11 PM
    • #7
    • 12th Oct 16, 2:11 PM
    Although "van insurance" could imply a B2B transaction so s75 would not apply.
    Originally posted by molerat
    That may be so, but Section 189 of The Consumer Credit Act modifies our general understanding of what is a consumer.

    It defines 'an individual' as:
    “individual” includes—
    (a) a partnership consisting of two or three persons not all of whom are bodies corporate; and
    (b an unincorporated body of persons which does not consist entirely of bodies corporate and is not a partnership;
    In layman's terms that means a sole trader or a partnership of up to three people which are not a limited company should be able to take advantage of Section 75 of The Consumer Credit Act.

    If it is a business credit card, rather than a personal one, I would expect problems.
    • agrinnall
    • By agrinnall 12th Oct 16, 2:40 PM
    • 15,625 Posts
    • 11,329 Thanks
    agrinnall
    • #8
    • 12th Oct 16, 2:40 PM
    • #8
    • 12th Oct 16, 2:40 PM

    If it is a business credit card, rather than a personal one, I would expect problems.
    Originally posted by wealdroam
    As it's not a credit card at all (post #3) that won't be an issue.
    • wealdroam
    • By wealdroam 12th Oct 16, 2:50 PM
    • 17,419 Posts
    • 13,999 Thanks
    wealdroam
    • #9
    • 12th Oct 16, 2:50 PM
    • #9
    • 12th Oct 16, 2:50 PM
    As it's not a credit card at all (post #3) that won't be an issue.
    Originally posted by agrinnall
    Yes of course. Overlooked that when typing my post.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

4,723Posts Today

10,123Users online

Martin's Twitter