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Posted: Sun Mar 04, 2012 8:25 am
by sean
My car insurance is due for renewal at the end of march. last year i paid monthly for it. Will i still be able to do that this year now that i have been in my iva since last august
Posted: Sun Mar 04, 2012 8:26 am
by lem
I believe if you stay with your current insurer then yes this will be fine, there are some insurers out there that will allow you to pay monthly for car insurance but we have recently gone through the renewal process for ours and with our current insurer the premium went up from £300 to £655 so we had to look elsewhere, unfortunately, we couldn't find anyone who would let us pay monthly so we had to pay in full but managed to get it for £285 for the year which wasn't too bad.
Posted: Sun Mar 04, 2012 8:39 am
by kallis3
Hi Sean,
You should be able to - there are a lot of companies that will still let you pay monthly.
Posted: Sun Mar 04, 2012 8:46 am
by plasticdaft
Swinton allowed us to pay monthly,just shop around. I think the problem is the insurers now use 3rd parties to give you credit for the policy so a stricter credit check is needed.
Paul
Posted: Mon Mar 05, 2012 9:45 am
by Shell.76
hi, i have been in an iva for nearly 5 yrs and just recently changed my car insurance to cooperative, which i pay monthly by direct debit.
Posted: Mon Mar 05, 2012 9:55 am
by lem
from what I can gather, I think it tends to affect people more in the early stages of their IVA, I seem to recall seeing a thread where someone has said that the insurer had said because they were under a year in their IVA they couldn't pay monthly, maybe this has something to do with it?
Posted: Mon Mar 05, 2012 10:23 am
by Imhotep
My wife had a bump last year and one the year before. Last year there was considerable damage and we had to find 350 quid to cover the excess. We lived on beans for the month!
The one two years ago was the smallest of bumps. It turned into a claim for whiplash (surprise, surprise).
Our insurer refused to insure us any more.
We shopped around but were refused monthly payments by one and M&S were fine about it. We actually pay slightly less than we used to. But they wouldn't sell us protected no claims as one more bump we would loose it anyway.
Posted: Mon Mar 05, 2012 1:23 pm
by clarelm99
Hi Sean
I had my IVA accepted 14.12.11 and applied for car insurance on a monthly basis with Direct Line on 15.1.12 and had this accepted.
This was also on a 0% int as well which was a bonus.
Clare
X
Posted: Mon Mar 05, 2012 9:41 pm
by marsha1
I pay for mine quarterly, this way I don;t get cgarged credit. I save 30.00 a year.