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DRO and increased car insurance
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Hi im new to this and just hoping someone could possibly help me please. I had a DRO back in 2014 which lasts for a year so ended november 2015, i understand this shows on my credit report for 6 years but i noticed last year when searching for car insurance renewals my quotes had gone up considerably so i stayed with my current insurer where i was paying £49 a month, but today ive received my renewal with the monthly price being £160! I called the company octagon who said they are no longer taking on business so i have to renew with a new company so this is the price they will give me. After checking all different insurers im getting the same sort of prices if not higher, i have 10 years no claims and have never been refused or defaulted on car insurance so is this the price im going to have to pay from now on or is there any way i can get this cheaper? And has it gone so expensive due to the DRO? I will be paying the same price as my 18 year old sister who is a new driver and i am 30! Also after checking my credit report it is still showing i have an account in serious arrears with creation finance but this was included in my DRO, i have contacted them and they are saying the need to update their details but will get back to me, could this cause me anymore problems? Really confused atm as im not able to afford £160 a month for car insurance so any advice would be appreciated. Thank you.
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Don’t think it’s anything to do with the DRO.
I had an IVA and my insurances for house and car never changed except for a few quid in all those 6 years.
I was in my mid 40’s at the time.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Thank you, i just have no idea why it has gone up so much its £110 more but saying that i also renewed my house insurance and got it £5 cheaper a month so i did wonder if it was to do with something else but not sure where to go to find out.0
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