We have just enquired about a claim on our house insurance and they are now asking loads of questions about being in an IVA, and that we should have informed them. We have been in the IVA for 2 years, and with the insurance company for seven and have just renewed each year. How can an IVA affect our insurance premiums?
It shouldn't do - we've never had a problem with ours and have made a few claims since being in the IVA. They're not aware of it and we've been with the same company for several years.
It's scandalous!!
I've had the same problem with a car insurance renewal! Most of the companies we tried said no and most of those that said yes wouldnt accept monthly payments! In the end we had to go with Tesco and have had the payments go up! [:(]
Seems like companies see us as more of a risk! x
When you make a mistake, don't look back at it long...the past cannot be changed. It is the present and future that counts
It's considered a risk factor in making / inflating a claim if you've been declared insolvent.The insurers would argue that in that circumstance they were entitled to vary the premium or decline to insure.
Only ever get a renewal certificate through each year - never checked the policy and they've obviously not bothered checking as we have made three claims in the past three years (last one being in 2010) and we had no problems at all.
well we took out new car insurance earlier this year, got it for the same price as last years quote with a different insurer but had to pay in full up front which wasn't a problem as we'd saved the money to do so. They must have known we have an IVA as they would nhave credit checked us so it's obviously not a problem to insure us, only we couldn't do monthly payments that's all
If you pay upfront then there will never be a problem.
I've changed pet insurance a couple of times in the past two years and have never been asked about insolvency and have always been able to pay monthly for that.
Harpic, I think the issue is how much you pay not when. The perceived increased risk factor of false or inflated claims is unlikely to apply to pets. The original question was why the insurers were questioning her claim and why they had not been told about the IVA. The simple and only answer is because , to them, it represents an increased risk which should have allowed them to increase the premium or decline the insurance. Andy's referral sounds good - should save a lot of legwork and the disappointment of claims being turned down. Thinking you're insured when your not really defeats the object of cover.
We have never been asked the question so have never had to answer it - we know that we are insured, hence the fact that the company has paid out over the past few years.
Just to add that the claims were neither false nor inflated. Our company replaces like for like and they sort out the replacement, they don't give us the money.
Two of the items concerned were electrical and taken away for assessment. The other was a loss and we had the valuation for it.
Harpic, not suggesting that at all just explaining that's the reason many insurers want to retain the option of levying an increased premium or declining to cover when someone has been declared insolvent. It's just one amongst all the other risk factors that they take into account - it doesn't mean they are accusing anyone of anything.
Yes but my point was that our insurer knew about our IVA but did not increase the premium because of it, we just had to pay in full at the time of buying.
