I haven't been and I'm glad you haven't but some posters on here have experienced problems with paying for insurance monthly - if asked if you have ever been insolvent (as I was asked this week) then you will probably be turned down.
As previously stated - it is all down to the individual.
The monthly payment option depends upon how the insurance company funds it's installments. Some companies fund these themselves whilst others get the premium in full up front from a third party lender. In this case you will be credit checked by the lender and turned down.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
We have been turned down by several companies this last week - will stick with the one we have been with for years - it may not be the cheapest but at least they will cover us!!
I just use confused I haven't been turned down by any insurance companies even when I was in an IVA. I do notice every year that they bump the price up by a few hundred which takes me right back to confused for another quote! I pay monthly through premium credit.
Last year both my wife (not in IVA) and I applied for car insurance through a couple of companies via Confused.com. Quotes came through no problem but when applying they were declined. In the end my Son paid for both our policies in cash and we ended up paying him monthly. Ended up as a 0% cash advance but then you cant put a price on love lol.
Must admit after last year I dread applying for insurance on both house and car.
Last edited by Pennyless on Mon May 21, 2012 7:56 am, edited 1 time in total.
I came into this world with nothing and still have most of it left!
The Diamond/Elephant/admiral group had no problem offering me monthly payments knowing I was in an iva...so one to consider if anyone is struggling to find an insurer.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Foggy
The monthly payment option depends upon how the insurance company funds it's installments. Some companies fund these themselves whilst others get the premium in full up front from a third party lender. In this case you will be credit checked by the lender and turned down.
my insurance is funded by third party as you have mentioned but i have never been refused/turn down
in 30 odd years i have always paid by monthly and never up front,i allways shop/do my homework to find the cheapest quote.
so can you explain that.
i have found out in the past that these comparions site are rip off.you can get a quote and then if you phone the company up and asked for a quote you would find that you get a different quote again than you did on line it might be a lot more or a lot less.
at the end of the day we live in a rip off briton
right i had my rant on this subject. and am geting ready for party time on wenesday 23rd iva finished
I don't think anyone can explain why some people in ivas have problems getting car insurance with monthly payments while others don't. Maybe you've been lucky in the companies you picked?? I didn't have a problem either but many many people do.
I don't think anyone can explain why some people in ivas have problems getting car insurance with monthly payments while others don't. Maybe you've been lucky in the companies you picked?? I didn't have a problem either but many many people do.
I'm a little worried about renewing my insurance if I need to shop around. Mind you, some people have problems but we all get I surname in the end! Maybe I shouldn't worry so much [:)]
morethan are quite good we are with them we shopped around and found a quote for 65 pound cheaper phoned more than and told them and they dropped the price then and there, so if you find one cheaper phone your insurance company and tell them most of them we match prices they do not want to loose you as a customer
I always shop around, I don't consider loyalty counts in this day. I do check the cover is what I require and I'm luck in only ever having to make one claim in all the years on building and the same on car.
I always pay monthly and to date had no problems in doing so. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
