Home Insurance - Bankruptcy

AfterDark

My husband was recently declared bankrupt. I just had my home insurance renewal paperwork and spotted on it that one of the questions was "has any one In your house been declared bankrupt". Phoned Tesco insurance and didn't think it would be a problem as I pay my insurance yearly in a lump sum but was told they wouldn't be able to insure me. Cancelled my insurance with them before they did it for me. Just can't work out what relevance the BR has to my insurance? It just seems like some sort of discrimination. Anyone know of any BR friendly home insurance ?

Mollie_Guinness15

Dial Direct were fine with me after the AA dumped me.

https://www.dialdirect.co.uk/homeinsurance/

National_Debtline

Hi Afterdark,


Insurance is a form of credit agreement and so they may say it is relevant from that perspective. But, if you volunteered the idea that the policy would be in your sole name and paid in a lump sum and they still refused then, unfortunately, it may just be their policy. You could ask for a copy of their policy and potentially make a complaint if you feel you have been discriminated against.


Laura
@natdebtline

TheGardener

Co-op didn't seem to care and were happy to insure me.
Check the question asked carefully - 'has any one ever been BR' - or - 'are you currently BR' are of course, very different questions.

The 'has anyone in the household ever been BR?' question seems to be a bit old hat these days - Just try another insurer.

philnicandevan

Royal Sun "more than" happily covered us allowed my NHS discount as well on top..had a couple of claims while bankrupt as well..zero issues

AfterDark

Thanks for all the reply's.
Laura - I offered to put it in my name only and pay for the year in a lump sum, However was told they can't insure me as he lives in the property.

Ended up having to pay £96 more than my renewal quote with another company. Which was the cheapest I could get for the same cover. Never expected the BR to affect the insurance at all to be honest as I always pay it in a lump sum. Still stumped as to why his BR has put the home insurance quotes up so much as I've got 6 years no claims. I will write them a letter and see if they can shed any light on it.

Bolitho1792

Hi Afterdark I was going to ask the forum the same question. I am the BR one and have just given the AA the push for this reason I have 15 years no claims and they on finding out I was BR wanted to treble the renewal premium. Money supermarket ask on the form before they quote is you or anyone else living with you BR and that doubles the cost as well. Its a rip off really it should go on claims.

Ill give dial direct a call and see what they can do or else Ill wait until October when im discharged and try it in the wifes name

TheGardener

Bolitho1792 wrote: »

.... Money supermarket ask on the form before they quote is you or anyone else living with you BR and that doubles the cost as well. Its a rip off really it should go on claims.

ITs my belief that is a lazy catch all used on some of the comparison websites. I ran the search having ticked 'no BR' and then phoned the 4 best quotes direct and asked if I could take out the policy as a BR if I paid up front - they all said yes and only one of 4 put the premium up.

FutureGirl

It's because those that are BR are more likely to either not pay the insurance policy, or commit fraud. It's all about risk / statistics.

saynotofastway

I was and am still with More Than, they said it was fine.

AfterDark

I ended up going with Churchill. The BR question wasn't asked on the website. I had the policy documents in the post yesterday read through them and nothing mentioned about BRs