Car Insurance Scenario

SkintyMcFlinty

Good evening kind forum members - I have a question. If I have my car insurance through the same company as I have a cc, will they be able to withdraw money from my account when I go br? Indeed, would they still want to insure me? Would it be better to change insurer? Not sure what to do! I'm probably still credit worthy so could change me thinks. What do you helpful people think? Many thanks as always, Skinty x x

Dez-Titute

Hi Skinty,

The scenario is unlikely.Who is your insurance with,If its thro a bank they are probably only brokers and as long as you can continue making payments you should be OK
Just make sure you have a backup plan re accounts /receiving salary/DDs etc

PixiePie

Credit worthy isn't anything to do with car insurance - I got mine on 12 instalment payments after my BR and I'm not registered to any address either so score worse than worse on a credit check - they don't do one basically for car insurance payments as it's not credit really - if you don't pay a month you are no longer covered basically, so not credit in the strictest sense.

Sorry just re-read your post - I think I'm right in saying whilst it might be the same front company the CC and car insurance are with, they aren't the same company really, and definitely very different departments, so don't worry too much methinks - if it is a problem you can change very easily after BR - I didn't have any issues at all getting insurance and my premium quotes weren't any higher than pre BR

peachyprice

PixiePie wrote: »

Credit worthy isn't anything to do with car insurance - I got mine on 12 instalment payments after my BR and I'm not registered to any address either so score worse than worse on a credit check - they don't do one basically for car insurance payments as it's not credit really - if you don't pay a month you are no longer covered basically, so not credit in the strictest sense.

Pixie, they do credit check for car insurance, just some companies aren't as fussed as others. More Than wouldn't let me pay by instalments, only a one off payment. Also, if you take out a policy with instalments with a new company you should have to sign a credit agreement, if it's a renewal you don't necessarily have to.

Also, if you use moneysupermarket.com and confused.com they do a credit check and the quotes you get are based on this, they will mostley be higher and some will not offer instalments, than the quotes for a person with good credit.

SkintyMcFlinty

I'm insured by Tescos and have a cc with them that will be included in br. Just didn't want to give them new DD details and for them to dip into my new account for monies owed. Not sure if thats even possible but paranoia has set in and the 'what ifs' are here! :rolleyes:

Thanks for your replies - feel a bit better now x x