Car insurance for bankrupts

facinguptothechallenge

Hi
Just wanted to post this info in the hope it will help other people like me:D
My car insurance is due on the 7th but i just had a claim on my old car insurance (direct line) they were brilliant cant fault them. They processed my claim in no time. My renewal was nearly double what i paid last year and that was sent before i put my claim in. I went Bankrupt august 2011 so due for discharge soon (whoohoo what a year! its been tough but im nearly at the end) I knew i may have problems when renewing my car insurance.
I rang co-op who i bank with since going Bankrupt but because i have had 2 claims in 4 years i was refused even with 10 years no claims (i always have them protected) but they recommended a company QUOTE LINE DIRECT and transferred me straight to them i spoke to a guy called Stephan (he said i could use his name as he wants to be famous :rotfl:) i explained straight away about my Bankruptcy and he checked and said not a problem!! but i didnt think i would get anywhere as i new i had had 2 claims in 4 years but i carried on gave him my details and he gave me a brilliant quote and less than co-op i was shocked as i thought they would bump it up due to the claims. It worked out about a £100 per year more than last year with Direct line but i still saved £300 from my direct line renewal. Judging on the climate and prices rising i was amazed at the quote. It would of been less had i paid in full but i didnt have the funds so i pay monthly. Hope this helps as i looked on here for ages and found very little info regarding this subject. :beer:

System

A lot of the car insurance firms will insure you OK a a BR (do inform them though) - the issue isn't so much getting the insurance it's getting a monthly payment scheme. That's more difficult and rare as a BR.

facinguptothechallenge

Hi messed up money,
I can see where your coming from and i got the finance through creation and they were one of my creditors and for a few accounts in my bankruptcy so i was surprised they accepted me. This was my first hurdle after becoming bankrupt and i came through it with no scars so im happy. :j

System

That's great. It's by no means impossible just....difficult.

Hairymonster

I have actually wondered this as I never realised BR could affect my car insurance. I filled out all of my applications online and none of the questions were " have you ever been BR" so didn't actually think it had an affect. My insurance for my 1st car in September worked out at £1300, I'm a 30 year old male. I thought the reason it was expensive was my city centre postcode.

But when my Bankruptcy falls off my report in November; does this mean that my future quotes should be a lot less? even more so than it would barring any accidents?

PippaGirl_2

Is car insurance more expensive for BR people then? If they don't ask the question, do you have to tell them? I always pay my whole premium in one go at the start of the policy. I don't see why it should be more expensive?

Hairymonster

I just think the risk would be increased for not paying your installments etc as previous bad financial management etc They didn't ask me but would imagine it flagged up in credit check.