is Co-op car insurance safe now the bank seems in trouble?

KatharineF

Hi, I know nothing about money issues so this may be a stupid question but... As the Co-op bank seems to be in a spot of bother, should I not renew my car insurance with them?? I need to sort it out today so any quick advice would be very much appreciated!

ihateyes

KatharineF wrote: »

Hi, I know nothing about money issues so this may be a stupid question but... As the Co-op bank seems to be in a spot of bother, should I not renew my car insurance with them?? I need to sort it out today so any quick advice would be very much appreciated!

Also i assume their car insurance business will be serperate to the bank... though i may be wrong

atrixblue.-MFR-.

co-op are selling their genral insurance as announced back in march, although it turned a profit so i cant see any urgency or problems arising from this in the near future.

a good insurance company i might ad, i had my first solo car insurance with them they gave me a 60% introductory reduction if purchased online, that was three years ago, so i was able to insure a 2.0 for under £1000 with no NCB or a tracker based policy, they handled my mods pretty decent awell induction, chip, alloys, and cost £50.00 extra inc admin.

sithemadmonkey

They're also covered by the Financial Services Compensation Scheme, so even if it does all goes tits-up for Co-op Insurance (which frankly is unlikely in any case), you'll still be able to make claims.