Home Insurance with Adverse Credit

Get a Home Insurance Policy Even With a Low Credit Score

Trying to get home insurance with bad credit can sometimes be difficult, but with Insurance by Simply, it needn’t be. Our team of specialist brokers aim to secure you fair and affordable home insurance quotes whatever your credit history happens to be, including IVA’s or bankruptcy. We’ll work with you to get the quote that’s best for you, offering a tailored, bespoke insurance service and solution for you.

Will Adverse Credit Stop Me Getting Home Insurance?

It won’t stop you from getting home insurance, but historically at least, it’s definitely made it more difficult. Insurers tend to relate adverse credit with an assumption of poor financial responsibility, however here at Insurance by Simply, we know there are many reasons why adverse credit occurs, so we don’t discriminate. What is important is that you declare any bad credit, as insurers will assume there is none unless you tell them, it is your responsibility to advise Insurers of your financial situation. We can tailor your home insurance quote and obtain the best quotation for your circumstances, ensuring any possible claim in the future is not jeopardised due to not disclosing your circumstances at the beginning of your policy.

What Causes Bad Credit?

Poor credit scores occur for a number of reasons. These include a failure to stick to your credit card agreement, declaring bankruptcy and being subject to a CCJ (county court judgement) to name just a few. Bad credit can impact your ability to get a mortgage, loan and, yes, insurance.

However, you can also develop a bad credit score due to reasons completely out of your control, such as identity theft. You can even have a poor/average credit score if you don’t build your credit – if you don’t use a credit card, for instance. Fortunately, there are several ways you can bolster your credit score.

You can improve an unfavourable credit score by:

  • Regularly using your credit card, and always paying it back on time.

  • Utilising different kinds of credit accounts. If you have multiple credit cards at once, then provided you pay them off as soon as you use them, this too can improve your credit.

  • Register to vote! It sounds a simple one, but it can really help your credit score if you’re on the electoral roll.

  • Make sure addresses on accounts are all up to date. Strange though it may sound, an old address on your accounts can have an adverse impact on your credit score.

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Should I Save Money by Not Getting Insurance?

No! This is just about the worst thing you can do, and it’s really not worth the risk. Insurance, whatever the type, is one of those things that you don’t think you need until you need it. And then you really wish you had it.

Home insurance is arguably the biggest example of that. It’s easy to think you can get away without home insurance until you experience severe flooding, all your home’s expensive possessions are stolen or your home catches fire.

Many people put off getting home insurance because they think they’ll end up overpaying, paying for a level of insurance that they perhaps don’t feel they really need. With Insurance by Simply however, we create a tailored, accurate policy for you, so that you only pay for what you need.

What Type of Insurance Do I Need?

If you’ve got bad credit and you require home insurance, then you’ll need to work out what kind of insurance you need. Firstly, we will need to establish whether you need standard or non-standard home insurance. After that, you can decide whether you want contents insurance, building insurance or combined insurance. We can offer a range of quotations for you to consider such as:

Standard home insurance

This in general is the most common home insurance that most people will need to apply for. Most properties fall into the standard category. Home insurance can be broken down into contents and building insurance.

Non-standard home insurance

This is insurance for homes that inherently have a greater amount of risk attached to them. Thatched cottages, for example, come with more risk attached than a two-up, two-down new-build property.

Contents insurance

This insurance covers the possessions within your home, like your jewellery, electronics and appliances. The more accurate you can be with your possessions’ value, the better your cover.

Building insurance

This insurance covers the property itself, in case it suffers structural damage or is destroyed by a flood, fire or another similar event

Combined insurance

Often providing the best value for money, combined home insurance couples up contents insurance with building insurance into one, single policy.

Helping you Protect Your Home

Here at Insurance by Simply, we’ll work to secure you a comprehensive solution for your home insurance, whether you have good credit or bad credit. Our friendly team of brokers and advisors are always on hand to talk you through the process, and nothing is too much trouble.