Car Insurance

[maizie]

Next month is going to be a really difficult month.. car tax, mot, car insurance and breakdown cover all in one month!!!

I paid my car insurance in one lump sum last time but am going to have to pay installments from September. Will they do a credit check? Is it seen as credit and do you think I will have difficulty with me being in an IVA?

Life is far too stressful!!

[catullus]

I'm fairly sure that they won't do a credit check because if you failed to pay a monthly premium they would simply lapse the policy so the risk to them is minimal.

It's not viewed as credit within an IVA, more akin to a pay as you go mobile contract and, yes. life is very stressful!!

[Oliver]

This is not viewed as credit as your policy would be cancelled should you fail to pay an installment.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[Adam Davies]

Hi
Some companies do search your credit files but it is done to confirm address and not to "credit score"you.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[CoverItAll]

Hi maizie

Do remember to inform your insurer that you are in an IVA. This should not affect your cover or premiums.

John Tegg
www.asu4iva.co.uk

We will make all your IVA payments for you if Accident or Sickness stops you paying them yourself.

[maizie]

Why do I need to inform them. I will just be renewing my insurance not changing companies? If they do decide not to insure me because of this I can't get to work!

Life is far too stressful!!

[Oliver]

I think Cover it all is advising you to do this as some insurance companies require this disclosure in the terms and conditions of their insurance contracts and it would be a complete disaster if this was to invalidate your insurance. This is unlikely to affect your ability to continue with this company though so don't worry too much about that.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[CoverItAll]

You are quite right Oliver. If the Insurer is not concerned about your IVA, you have lost nothing. If they are, then it iz better to find out now and change Insurer, than to wait until after an accident when your vehicle might be a write off and you could be facing a personal injury claim for thousands of pounds.

In this situation you really do have everything to win and nothing to lose by full disclosure.

John Tegg
www.asu4iva.co.uk

We will make all your IVA payments for you if Accident or Sickness stops you paying them yourself.

[Skippy]

I checked my insurance booklet and it didn't say anywhere that I have to disclose the fact that I am bankrupt or in an IVA. I did tell them and they didn't have a problem with it as I was paying for the year in full (thanks to my uncle!).

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[maizie]

Well I just phoned my insurance company and told them that I am in an IVA.. they just said whats that?! I explained what it was and that I was advised to inform you and they just said OK. Whether they registered it or not Im not sure! Is there anything else I should do? I can't renewal my insurance yet because the renewal form isn't due out til middle of next month.. I have advised them that I will be doing instalments this year... just hope they don't do a credit check!

Life is far too stressful!!

[Skippy]

I wasn't convinced that Churchill were really that bothered when I told them I was bankrupt - he muttered something about it being ok and took the payment from Dave's credit card quite happily!

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[Adam Davies]

Hi
Surely the insurance company will ask the question if it is relevent ?
I totally agree that it must be disclosed,but only when asked.How could they refuse a claim because of info that you have not disclosed if you were never asked about it ?
Regards
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[Skippy]

I totally agree Andy - I wouldn't ring them up and tell them that I had an accident 10 years ago if they only wanted to know about the last 5 years, so I don't understand the problem.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[CoverItAll]

Let me quote you a personal experience. In 2002 I was applying to Ecclesiastical Insurance for a "working from home" policy - a combination of home and business insurance. They quoted for the business, but when I disclosed the fact that I was a discharged bankrupt, having been bankrupt from 1995 to 1998, they immediately declined the risk. I went to AXA Insurance, made full disclosure and was accepted. If I had not made disclosure to the first company, I could have paid premiums to them for years, and the risked a claim not being paid on the grounds of “non-disclosure”.

Insurance contracts are based upon “Uberrima Fidei” – utmost good faith. Each party to the contract must make full disclosure to the other of any fact that the OTHER PARTY might consider to be material to their decision to enter into the contract.


John Tegg
www.asu4iva.co.uk
0845 673 9999

We will make all your IVA payments for you if Accident or Sickness stops you paying them yourself.

[louiseh]

But as no credit is involved, is being in an IVA a material fact when applying for car insurance. It doesn't make me more or less likely to have an insurance claim.