Bankruptcy and insurance

sparkyjohn_2

Why is it that insurance want to know if anyone who lives at my address has EVER been declared bankrupt?

I have been discharged over 2 years now and every quote I get from insurance companies has a BANKRUPTCY premium added:mad:

My contents insurance could be as low as £42pa if I tick the no to anyone at the property being bankrupt but the yes box attracts a massive 100% premium on top:mad:

Why do we get treated WORSE than criminals when it comes to insurance!! I did'nt even get asked if I had any criminal convictions. Which I haven't. for all they know I could have been a fraudster and they will still give me the discount but BANKRUPTS are scum in their eyes.

Are their any insurance company's that don't double the home contents insurance premiums? Also I dont like the fact they are now asking if youve EVER been declared bankrupt. Are we going to pay for this for the rest of our lives.

MikeJO

Not a helpful answer I'm sure but just wanted to sympathise because I'm in the same boat. It stinks....and why contents insurance but not car?

nuttyp

I too some near on 6 years later am still finding I pay more. I eventually got a decent quote, but you will have to shop around. Try the comparison websites, we found the compare the...... dot com site to be the cheapest.

dojoman

I never had a problem with insurance even whilst undischarged and I certainly never had a BR premium added.

MikeJO

dojoman wrote: »

I never had a problem with insurance even whilst undischarged and I certainly never had a BR premium added.

Be really helpful to know who you use dojoman?

Compare the bobcat without BR declared....



And with....

sparkyjohn_2

The sad thing is you have been being charged this premium on insurance since you was declared bankrupt and you didn't even know it. Most people are unaware of the fact that they are paying more but have you never asked yourself why they ask the "have you been declared bankrupt?" question.

The only reason they ask that question is they can legally squeeze a few more of your hard earned notes from you.

Apparently we bankrupts are put in a higher risk category because we have had our debts written off. I know people including Family members who have just gone missing for 6 years from the electorol register and dont declare true postal addresses and they are now free from all debts and when the creditors do catch up with them and they have with one of them the creditors dont have a leg to stand on even though the moneys still owed its not legally enforceable debt in court. But me and my OH go bankrupt and do things properly and we get penalized for ever. Dont you just love this great country of ours!!

sparkyjohn_2

MikeJO, Thanks for posting that it shows bankrupts the truth about what is happening to us when getting insurance and most are not even aware as they just shop for quotes declaring the BR and not trying it without.

As your search shows all the quotes on the "bankrupt me guvner never" screenshot are all lower than the "yes your honor guilty as charged" screenshot. Thanks for taking the time to do that on here it.

alastairq

https://forums.moneysavingexpert.com/discussion/3289126

https://forums.moneysavingexpert.com/discussion/1854585

https://forums.moneysavingexpert.com/discussion/4023711


All the above deal with this issue...it is ongoing, and to my mind reflects a spiteful attitude by the Finance industry towards those who have used the Law against them.

sparkyjohn_2

Thanks alastairq for that post with the links which explains alot and as I suspected, but could not find this has already come up in more than one thread. At least there are some people on here willing to help and not just post vague comments without any help in the post. I will be reading all three posts in detail now anything to save a few quid. Have a nice day

dojoman

I used Liverpool Victoria then switched to the Coop for contents insurance, my premiums with the Coop were actually less than when I was declared BR. Sorry for the ambiguity in my original post. I found that as long as you were prepared to research all your options, you could always find an alternative, unless there is some other reason as to why your premiums are hiked.

dojoman

Just checked my old statements, with LV I was paying £16.25 a month, when I went to the Coop it went down to £14.69. Had to use their services once and they were brilliant. Don`t know if things have changed? as I no longer reside in the UK, if they have then I apologise and wish you all the best in finding the best deal available.