News0 min ago
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 ?
Answers
1 to 4 of 4
Best Answer
No best answer has yet been selected by jasmin26. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.
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.
1 to 4 of 4
Latest Posts
Quizzes & Puzzles0 min ago
Quizzes & Puzzles1 min ago
B B C Late To The Party And Of Course...
News4 mins ago
Quizzes & Puzzles8 mins ago
|
|
 |
|
|
|
|
|
|
|
|