Will Joint Insurance mean we are Credit Linked?

Susie-Anna

Hi, I hope someone can help me please.

My husband is in the process of buying a house (in his name only), he intends to get buildings & contents insurance in both of our names & pay the premiums on a monthly basis.

I am worried that this may link us financially. I have a poor credit rating and do not want it to drag his excellent rating down. Can you tell me if it will actually link us or not? If he chooses to have the insurance just in his name, would I still be able to claim on it, say if the roof collapsed & he died in the process?!? Very morbid/extreme I know!! :rotfl:

Thank you.

InsideInsurance

Not normally, insurance doesnt report to the CRAs.

The only outside chance of it doing so would be if you paid by instalments went via a company that used a third party credit provider then that credit provider MAY put something on the CRAs

I've never had indepth dealings with them and so dont know how they handle Home with multiple named people. At a guess it'd only go against the first named insured but I can see why it'd be attractive to them to have it joint names.

Avoid paying by installments and it wont create a link. Pay by installments and there is a small risk