Tue Sep 17, 2019 5:00 amjhonpaul12 wrote: How IVA will affect the price to pay for car insurance?And how insurance providers will consider you a higher risk when you have an IVA?As you have been told many times ..... How the IVA affects the price will depend on the insurance company --- they all react differently. Mine, for instance, did not change. Again, how they regard you as a higher risk, or not, will depend on each individual company. There is no simple answer.
Wed Sep 18, 2019 6:42 amFoggy wrote: Many, many things affect the way you are treated by insurance companies from your age, your lifestyle and your postcode to even your gender. I guess they might see someone who is insolvent as more of a risk of making fraudulent claims --- even though, in reality, someone is more likely to make a fraudulent claim when they are not coping, rather than after they have solved the problem!If Iam having the poor credit score then will it cause the insurance providers to turn down.it means that they will charge high rate of policy claims for fraudulent and wrongful trading but It is more common for a liquidator to bring proceedings on behalf of the insolvent.
Thu Sep 19, 2019 6:40 amFoggy wrote: Some will refuse to insure you, some will not. Some will charge a higher premium, some will not. I had no problems at all with my insurance during my IVA, others have.If committing to a car finance loan that is sustainable given your current budget and living costs,will my IP is likely to approve it. However since IVA involve paying a significant proportion of your disposable income towards settling your debts.
Fri Sep 20, 2019 7:02 amFoggy wrote: A car finance arrangement is completely different to an insurance arrangement. You will not be allowed to finance a car without the permission from your IP and it is very un likley that any reputable firm will lend money anyway as your credit rating would be down the toilet !If the lender want to be added to the car insurance policy as a loss payee.Will the insurance carriers update loss payees through the mail of any changes to the policies regarding the vehicle.And Is there any changes that late payments coverage changes and policy cancellation.
Sat Sep 21, 2019 4:53 amjhonpaul12 wrote:You need to ask the insurance carrier and the finance provider these questions.Fri Sep 20, 2019 7:02 amFoggy wrote: A car finance arrangement is completely different to an insurance arrangement. You will not be allowed to finance a car without the permission from your IP and it is very un likley that any reputable firm will lend money anyway as your credit rating would be down the toilet !If the lender want to be added to the car insurance policy as a loss payee.Will the insurance carriers update loss payees through the mail of any changes to the policies regarding the vehicle.And Is there any changes that late payments coverage changes and policy cancellation.
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