I am having real big problems getting car insurance. No one will allow me to pay monthly. In addition, most providers are quoting ridiculously high prices - 2k upwards. I am not sure why this is. I have tried to get the insurance to come from my mothers account, but they are telling us that she is not passing the credit score - she has a perfect score. What can I do?
Welcome to the forum. Continue to shop around ...we had noissues with direct line, the prudental, back horse, tesco ...we paid monthly throughout our iva
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
I tried all different places, but mostly online. Eventually, I went with octagon, who checked with their finance team whilst I was on the phone to them. I have now had a letter to say that the credit has been refused and that I need to pay in full. Everywhere else I fill out details for are accepting it right up to the point where I put in my banks details ... Then saying that it's declined. If they are accepting me, they are telling me they can't offer me monthly instalments, even if my mum has them going from her account. Just wondering if anyone has come across this problem before, and how they got insurance?
But thanks for the suggestions, I will definitely try those. I've noticed that the problem is occur in when the finance is done through a company called premium first. But I just don't understand how they expect people with an iva to pay upfront, and why it's even an issue anyway when it's all paid upfront each month. The other option is drive without insurance... Which I would never do!
within an IVA the insurance is allowable too within the I&E so there is no issue, crazy. I've personally never had a problem and have swapped insurers when in an IVA.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Hi Julie - if they are insisting on upfront payment could you get a payment break in your IVA to have the cash to pay it up front. You can then budget the right monthly amount from now so you have the lump sum next year when it comes around again.
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I found this even happened in the days when we had a perfect credit record! Lat year hastings direct refused me on monthly pay, I rang up to question it and they did it on monthly straight away. Same thing happened to my partner using the comparisson sites, you tend to find a lot of the companies are linked to eachother just under different names. Try Budget they took me no problem on monthly this year My supervisor at work also mentioned this happened to her also with Octagon, I wonder if they are having a bit of a crisis and want all money upfront!
The comparison sites get a lump sum "introduction fee", which is often more than the monthly payment, so to ease cashflow the insurers prefer an annual payment, rather than monthly.
I have found in the past that they often give a better quote when approached direct in any case ( no commission to shell out). Strangely enough some linked companies give quotes £100's apart for the same risk !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Direct line attempted to bumped my premium up by around 700 quid a year, I asked why and they said that there was "A change on my file that occured last year" the only change that was made was entering into an IVA.
At the end of the day paying monthly is a credit agreement and an IVA will cause issues with that.
Bottom lin is that insurance companies are out for all they can get --- when I moved they bumped up my premium by £4 a month, purely on post code ( as the crow flies I am less than a mile from the old address! ). They also charged me £23 admin fee for the change of address (which I am obliged to inform them of). Wonder how much they will charge for the wife running off with another bloke !!!!
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
