Car insurance

Puzzledbubbles

Hi All,

Just a random question, if a relative wants to add me on to their policy will the insurer (budget) need to know about my BR??

I have seen some people comment that its hard to get insurance but im not sure if thats becuase they wanted to enter into a monthly payment plan.

Thanks guys

Puzzled

x

rog2

Puzzledbubbles wrote: »

Just a random question, if a relative wants to add me on to their policy will the insurer (budget) need to know about my BR??

Don't see why, Pb. Unless the insurer specifically asks if you are, or have been, bankrupt, then I see no need to 'volunteer' information needlessly.

I have had no trouble with car insurance - have never been asked about my bankruptcy - either verbally, or on any form that I have had to fill in.

Tobiwan_Kenobi

I've just been getting some car insurance quotes recently, none have asked about my BR status. I believe the main concern is paying monthly, which we don't anyway.

dottydora

Tobiwan_Kenobi wrote: »

I've just been getting some car insurance quotes recently, none have asked about my BR status. I believe the main concern is paying monthly, which we don't anyway.

I haven't been asked but on both my old policy details (Norwich Union) and my new one (Swift) it states if you go BR during the policy it becomes null and void (Or words to that effect). Swift said because I was already BR it didn't matter. No idea why! It's always worth checking first to be on the safe side.

fiveyearplan

The main concern is that BRs are untrustworthy and pose a 'higher' risk!

fiveyearplan

I had to make a claim under my contents insurance about 3 years ago and they did ask if anyone in the household had ever been bankrupt - I thought that a very odd question but seeing as I wasn't having financial problems and wasn't considering BR at that time I didn't think to ask why they wanted to know that. I wish I had asked them now.

Flowerpot_2

Tobiwan_Kenobi wrote: »

I've just been getting some car insurance quotes recently, none have asked about my BR status. I believe the main concern is paying monthly, which we don't anyway.

Am a bit worried about this too as I'm about to re-insure my car. This time around I'm going to have to pay by DD (as I no longer use c/c's!).However, as the OR will freeze my bank account when I go BR (this month maybe) would that make my Insurance null & void - or can i hopefully just transfer the DD when i open my Co-op account post BR?
Flowerpot
xxx

fiveyearplan

I would open the Coop account ASAP and move your direct debits now (as long as you don't live in the Brighton area). I had my coop account opened 5 months before my BR and it was never frozen. I would advise though to have minimal money in the account on BR day - just enough to cover any direct debits that are due in the couple of days after BR.

Flowerpot_2

fiveyearplan wrote: »

I would open the Coop account ASAP and move your direct debits now (as long as you don't live in the Brighton area). I had my coop account opened 5 months before my BR and it was never frozen. I would advise though to have minimal money in the account on BR day - just enough to cover any direct debits that are due in the couple of days after BR.

Thankyou muchly for advice FYP but unfortunately i will be going to the Brighton Court Hence my worry Guess timing is the issue? Only have the one DD at the mo (Internet) so its not too complicated for me but my OH has lots (including the mortgage) & he'll be going BR around the same time in Brighton too :eek:
Makes my head spin
Flowerpot
xxx

fiveyearplan

Oh I see! Well if you only have the one direct debit you could go first then have them all put into your account, then OH can go BR and open his own account and transfer his back to his own account. It shouldn't be as much effort as it sounds. ... or you could make cash payments for one month? Remember to empty out all bank accounts before BR day as you won't be able to keep any of it - even if its only £5, that could come in useful after BR - half a takeaway, milk and bread etc.

tomterm8

rog2 wrote: »

Don't see why, Pb. Unless the insurer specifically asks if you are, or have been, bankrupt, then I see no need to 'volunteer' information needlessly.

I have had no trouble with car insurance - have never been asked about my bankruptcy - either verbally, or on any form that I have had to fill in.

Under the doctrine of Uberrima fides ("utmost good faith") you have a duty to disclose any fact that has a bearing on an insurance contract even if not asked by the insurer.

So, yes, you do have to inform them.

This is contrary to pretty much any other contractual setting.