Van Insurance Declined
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Apart from specific questions like have you any convictions in the last X years there are usually separately assumptions you are asked to agree with if you can.
Bankruptcy is usually included there, or they get you to agree to them carrying out a credit check on you0 -
Right a quick update:
The Manager of City Insurance has phoned me this morning. Explained the whole situation and agreed that at no point was I asked the question about CCJ's or Bankruptcy. This is also the same with many Brokers standard online forms.
He confirmed that:
Originally Posted by Zorillo
"Statistics prove that people who have been made bankrupt are more likely to make a claim than people who have not. It really is as simple as that."
That this has not always been the case and is a recent addition that Insurers are adopting to chasing higher premiums.
Totally satisfied with the response from City Insurance and have closed the case with the FCA about that complaint.
I have now started a new one with the FCA as regards to this new news about Insurance Companies now make pre assumptions that as a Bankruptcy Customer you are more likely to make a claim.
Now.....That survey that discovered this.
Is it legitimate Claims ( NCB lost if unprotected and premium up )
or
Bogus Claims ( You won't get Insured for a long time after this...plus Jail )
So this new tactic of being able to screw more money out of you on an assumption is TOTALLY WRONG.
What next. Will Tesco's be charging me more money for shopping as a stat assumes I'm more likely to return half eaten food asking for my money back.
It's a totally wrong BIASED Opinion that I will be pursuing.
Or should we go back to the old days where women got cheaper Insurance because they were deemed a safer driver.
Or perhaps they just don't like people that are able to pay the premium in Full.
As I mentioned. Credit checks. Yeah carry out as many as you like. I paying in FULL. I'm not asking for credit so why should that affect my premium.
They are making an assumption that I may make a claim which will cost them.
Despite the fact that I'm driving a van where the Excess is more than the value of the vehicle.
Where is the good old days when you could just get 3rd Party Insurance. Nowadays Full Comp is always cheaper than 3rd party or 3rd party fire and theft.0 -
That's also down to statistics, Third Party only policyholders make more claims than Comprehensive ones do.
Good luck with your complaint, it'll be interesting to hear what comes of it if you're willing to share it on here.0 -
R
Totally satisfied with the response from City Insurance and have closed the case with the FCA about that complaint.
I have now started a new one with the FCA as regards to this new news about Insurance Companies now make pre assumptions that as a Bankruptcy Customer you are more likely to make a claim.
The FCA do not deal with direct consumer complaints.
Even if they did, neither the FOS nor FCA will become involved in the commercial pricing decisions of insurers - they are commercial entities that if they do not want your business, they do not have to justify it.0 -
The statistics aren't biased, you just don't like what they mean for you.
When they use a statistic, e.g. "People who have visited the zoo are 90% more likely to own a hat", they don't care about the zoo, they don't care about the hat or what colour it was. They just look at the numbers then see what it means for them.
If they've looked at the numbers and found that people who have been made bankrupt are more likely to cost them money as an insurer, they don't care what the thing you've done is, just that it puts you in a different risk group. If they found that people who have been in debt make BETTER drivers, you might benefit from it. When you answered all of their questions - where you live, your age, how long you've been driving, type of car etc - some of those things will have added money to the price and some will have taken it off. You can't just take the ones you like and declare the rest biased against you. If you don't like this one about bankruptcy, would you willingly hand back the savings you've made in other areas? You've been driving for 32 years. You've never had an accident. You've never claimed. Now hand those back - they're "biased" in your favour!0 -
Absolutely spot on rach_k. Additionally if you are paying by direct debit the insurance company will do a finance check and the DD charge you pay will reflect your credit history. Same principal applies.
While not casting aspersions I suspect that statistics would show of those with recent CCJs/Bankruptcys are more likely not just to make claims but fraudulent ones too.0 -
Presumably not wanting to cause you more upset he failed to point out that they do require you to agree to a credit check (irrespective of whether you pay in full or on the drip) before going on to completing your details, and you agreed that.
The Manager of City Insurance has phoned me this morning. Explained the whole situation and agreed that at no point was I asked the question about CCJ's or Bankruptcy. .......
Why would they do that if not to find out about your financial history/credit status?0 -
Just to clarify. No drip drip. I paid the Policy in Full. Reardoa
rack_k perhaps I should stop wearing hats
Cheers for all the feedback.
Lets just wrap this one up eh.
Wowzer. I seem to remember a more forgiven forum than this.0 -
I appreciate you paid in full
The point I was trying to make to you is that they do get you to agree to them running credit checks on you irrespective of how you intend to pay!
And your bankruptcy will be thus revealed!0 -
Quentin. NP. Was just clarifying to Reardoa with that comment.
Some great feedback and much appreciated.
Still all ended ok in the end.
Nice cheap Insurance found. Also the cheapest isn't always the best.
And the declined part will not be recorded on record.
Result0
This discussion has been closed.
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