Should bankrupts complain to GoCompare.com?

4$£&*(£$&*(!

You may have seen the thread I started at http://forums.moneysavingexpert.com/showthread.html?t=1854585 in which I am encouraging people to write to their MP's in stopping insurance companies discriminating against insurers.

At the moment I have some correspondence with Neil Hamilton, who was declared bankrupt some years ago and I am hoping his profile may help our lobbying. Mr Hamilton initially indicated his insurers do not take into consideration the situation of bankruptcy, so I decided to do a quick quote comparison using GoCompare.com as they are using a lot of high profile advertising right now.

I was shocked. Using an example of a typical house in my area, a basic quote came in at about £266, listing around 30 insurers in total for me to pick from. Simply by me answering 'yes' to the question 'Has anyone at the property ever been declared bankrupt', the price shot up by almost £80 for the cheapest quote, yet shockingly only four companies quoted. The vast majority came back with a response they cannot quote due to bankruptcy.

This is truly awful. It may not seem megabucks we are talking about, but anyone who is bankrupt or who lives with a bankrupt - current or discharged - should be furious about this. Over a lifetime these insurers are charging thousands of pounds more for something they cannot prove is a higher risk.

If you agree with me, please email [EMAIL="feedback@gocompare.com"]feedback@gocompare.com[/EMAIL] and tell them how angry this makes you too. Please also raise this with your MP if you have not already done so. Together we will make a difference, I cannot do it on my own, stand with me, don't go onto another thread, take a moment to click that email address and tell them what you think.

fiveyearplan

I'll send email now. Thanks for bringing this up City Slicker

milothewestie

when i got my car insurance they asked had me or my wife had any ccjs, well i may be bankrupt but they never asked that so i just answered honestly i got a decent quote,i thought anyway and that was using adrian fluxhny:beer:

milothewestie

but ill join you anyway if your being descriminated against

4$£&*(£$&*(!

Thanks milothewestie, I think this whole insurance scam is more against home than car insurance. If you was not asked this on your car quote, good for you I don't blame you.

I have suggested to GoCompare that it is in their interest to lobby other members of their service too, as they are not the only ones asking such a question; yet just because others ask does not make the question correct and I still feel this is in breach of principle 5 of the Data Protection Act (an MEP is working on this for me, see my other thread for info).

fiveyearplan

milothewestie wrote: »

when i got my car insurance they asked had me or my wife had any ccjs, well i may be bankrupt but they never asked that so i just answered honestly i got a decent quote,i thought anyway and that was using adrian fluxhny:beer:

Bankruptcy could come under the 'obligation to notify' in which case even if you weren't asked they see it as your responsibility to tell them. Therefore it may be that you're not insured. Note: I am saying may and not definitely not insured. The only way you'll know is if you ask your insurer.

milothewestie

five year plan i see your point but its not my job to do there job,if i had an accident they would not stand a chance if challenged in court unless they asked if i was bankrupt as they didnt i dont need to declare anything:beer:hny:beer:if we allow insurance companys to take the preverbial !!!! they will

computershack

I'm not furious about it. I accept it as a price to pay. Bankruptcy is something people take too lightly and seem to think there's no ramifications. I would like to know though how they'd prove you had been BR after Statute of Limitations period.

MarkyMarkD

CitySlicker wrote: »

Over a lifetime these insurers are charging thousands of pounds more for something they cannot prove is a higher risk.

They don't have to prove anything. They are running a business. They aren't doing it simply to be spiteful and to think that they are doing so is simply daft.

They are doing it because they have historical claims records which show them that there IS a greater propensity to claim from those who have been made bankrupt. So they charge higher premiums.

fiveyearplan

and even if they did have statistics (which btw can be skewed to show any meaning they'd like!) how can that mean by having a BR or ex bankrupt as a partner that you are more likely to make a fraudulent claim?

fiveyearplan

milothewestie wrote: »

five year plan i see your point but its not my job to do there job,if i had an accident they would not stand a chance if challenged in court unless they asked if i was bankrupt as they didnt i dont need to declare anything:beer:hny:beer:if we allow insurance companys to take the preverbial !!!! they will

Milo - it isn't doing their job for them, it is your responsibility to tell them (I just can't think of the term for it) but failing to tell them would be construed as omitting pertinent information and that in itself would (or could!) make your policy null and void, you don't want to be paying your premiums for years then to find when you need them to pay out they say you aren't insured. I seriously doubt ANY court would take your side.