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home insurance
my partner was made bankrupt in May, our home and contents insurance needs renewing soon and i am having a problem getting qoutes because of his bankruptcy. does anyone know who i could try ?
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Do as Ethel says. If you still have problems it might well be worthwhile taking one (or more) of the companies who are refusing to quote to the Insurance Ombudsman.
I cannot see why the fact that someone is bankrupt should be a reason for declining to provide insurance - unless perhaps fraud has been involved.
I cannot see why the fact that someone is bankrupt should be a reason for declining to provide insurance - unless perhaps fraud has been involved.
Working on a fraud investigation unit for a motor insurer, I think the main problem you have here is the possibiity of fraud.
Whilst I am not suggesting that you would, people who are on the verge of bankrupcy, or who are bankrupt, have a higher propensity for commiting fraud for financial gain.
As for taking the insurers to the Ombudsman, you may have some difficulty here - it's like with car insurance, different companies have different criteria - where I work, we will take on someone wit ha DR10 (drink drive), yet refuse someone with an IN10 (no insurance). This is strange to me as the drunk would seem a bigger risk.
Equally, some home insurers may not want to take you on due to the bankruptcy because their pricing analysts suggest you are bigger risk - the ombudsman would only get involved if they can;t give you a valid reason for refusing to take you on.
In our case, if we don't want someone (as do most insurers), we simply inflate the premium to a stupidly high amount so you go elsewhere. They may end up giving yo ua quote, but could you affored say �500 a month?
The ombudsman can't rule how much they charge at the end of the day.
It's unfortunate, but that's the way it works - it's getting worse due to the increased level of insurance fraud we are detecting, and so people are being penalised - mainly the bad one's, but occasionally the good un's too.
Whilst I am not suggesting that you would, people who are on the verge of bankrupcy, or who are bankrupt, have a higher propensity for commiting fraud for financial gain.
As for taking the insurers to the Ombudsman, you may have some difficulty here - it's like with car insurance, different companies have different criteria - where I work, we will take on someone wit ha DR10 (drink drive), yet refuse someone with an IN10 (no insurance). This is strange to me as the drunk would seem a bigger risk.
Equally, some home insurers may not want to take you on due to the bankruptcy because their pricing analysts suggest you are bigger risk - the ombudsman would only get involved if they can;t give you a valid reason for refusing to take you on.
In our case, if we don't want someone (as do most insurers), we simply inflate the premium to a stupidly high amount so you go elsewhere. They may end up giving yo ua quote, but could you affored say �500 a month?
The ombudsman can't rule how much they charge at the end of the day.
It's unfortunate, but that's the way it works - it's getting worse due to the increased level of insurance fraud we are detecting, and so people are being penalised - mainly the bad one's, but occasionally the good un's too.
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