Insurance problem

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happy buddha
Posts: 110
by happy buddha » Tue Jan 19, 2010 2:52 pm
Hi guys,
I'm in a iva and my question is ; on a insurance q and a declaration form where it says have you ever been bankrupt
do I leave that unchecked.?

 

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Skippy
Posts: 20717
by Skippy » Tue Jan 19, 2010 2:57 pm
As far as I'm concerned the answer would be no as you're not bankrupt.

 

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happy buddha
Posts: 110
by happy buddha » Tue Jan 19, 2010 3:17 pm
Mmmm that's what I thought. I spoke to axa today to renew my public liability ins and he asked have you ever been bankrupt I said no but I'm in a iva. He said sorry can't insure you it's the same thing. Maybe I should of just said no not bankrupt.

 

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rayb
Posts: 1288
by rayb » Tue Jan 19, 2010 3:32 pm
Hi,

An IVA is seperate from Bankruptcy and unless it mentioned it on the form you would not need to divulge it. When you get asked in future and they only mention Bankruptcy say no

 

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Skippy
Posts: 20717
by Skippy » Tue Jan 19, 2010 3:33 pm
I would have thought that if the wording is specifically about BR you can say no. If they ask have you ever entered into an arrangement with your creditors you would have to say yes.

I can't believe Axa took that view, it makes you wonder why you bother with an IVA.

Have you tried Churchill? I had my car insurance with them when I went BR and when I phoned to tell them they weren't interested.

 

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Shining
Posts: 27023
by Shining » Tue Jan 19, 2010 4:20 pm
I always answer no if they ask if I'm now or ever been bankrupt as in my opinion I've never been as I'm in an IVA. How wrong some people view bankruptcy and IVA as the same. To me neither is wrong and both excellent debt solutions one suits one and one suits the other, we've done something to address our problem and still we're penalised for this.

 

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Michael Peoples
Industry Expert
Posts: 15188
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by Michael Peoples » Tue Jan 19, 2010 5:19 pm
Whether or not you have been bankrupt I see no reason why it would affect your public liability insurance anyway. Totally ridiculous and move your business. You should post this on the bankruptcy forum as well and if possible others should move from AXA.

 

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Skippy
Posts: 20717
by Skippy » Tue Jan 19, 2010 5:23 pm
Another one to avoid is Aviva - a few people on the BR forum have had problems with them, in one case cancelling insurance without notice.

 

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happy buddha
Posts: 110
by happy buddha » Tue Jan 19, 2010 5:28 pm
Good update,
i have moved my business to another company and saved £50 so maybe karma had its own agenda..:)
even so i'm still a bit angry that a large company like axa are so blinkered to the situation.
Thanks for the contibutions guys much appreciated.

 

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Skippy
Posts: 20717
by Skippy » Tue Jan 19, 2010 5:44 pm
I'm glad you've got sorted happy buddha.

If you don't mind me asking who did you go with in the end? It could help other posters.

 

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happy buddha
Posts: 110
by happy buddha » Tue Jan 19, 2010 5:52 pm
oh yes forgot that bit...
i went on a website called www.simplybusiness.co.uk and then spoke to a insurance agent,she went through the quotes and we then decided on a company called Glemham

 

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Skippy
Posts: 20717
by Skippy » Tue Jan 19, 2010 5:54 pm
Thanks for that, I'm sure it'll be a help x
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