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Thread ID: 71823	2006-08-18 06:28:00	HIre Purchases and Insurance	csinclair83 (200)	PC World Chat

Post ID	Timestamp	Content	User
479118	2006-08-18 06:28:00	I need some advice here so I can ghelp my brother :) My Brother took out a hire puirchase 2 weeks ago,m andn doesnt make his first payment until 4th September, and yesterday decided to get himself some insurance due to purchasing a car, and they gave him a contents and vechile package... I told him that hes going to be paying insurance twice....for the one item... Since it hasnt started being paid for, can he go back to the store and request the insurance removed from the contract? I told him that he should be able to but hes already had the contract modified due to some incorrect stuff, and dont really want to be going back again, wouldnt want to been seen as trying to reduce the contract as if he cant afford it....he can, i just dont want him to pay for things he doesnt require....IE: Insurance.... Hope someone can give some advice here :) Thanks in advance	csinclair83 (200)
479119	2006-08-18 06:34:00	What sort of insurance was it for? Hire purchase agreements can include insurance to cover repayments for a short period of time if you are made redundant or off work from illness (with the usual exclusions etc). Did the insurance cover include loss of item?	Jen (38)
479120	2006-08-18 06:38:00	Also note that that some store hire purchase agreements require you to have repayment insurance . . . separate from your house and contents insurance . He may not have an option as house/contents insurance only covers loss/theft of an item, NOT repayment of a loan because of redundancy/sickness/accident . If he has no contents insurance it just means that he has to keep paying for something that he no longer has . . . it makes no difference to the loan people, as long as they still get their money!	Shortcircuit (1666)
479121	2006-08-18 07:33:00	If he has no contents insurance it just means that he has to keep paying for something that he no longer has... it makes no difference to the loan people, as long as they still get their money! Although most will require you to have contents.....if you DON'T have it already then they will not allow you to have the HP unless you take theirs. There is usually "goods insurance" & "repayment insurance". When we sell items at work we offer both, the repayment is optional & the goods they can take ours even if they already have contents but if they don't then the are required to take it. We do offer however that if they get there own within 28 days we will remove ours for them, after 28 days it's looked in :) With cars most finance companys require proof that you have been insured prior to letting you drive off in the car. Cheers KiwiMR2 Cheers KiwiMR2	KiwiMR2 (6464)
479122	2006-08-18 08:31:00	Thanks heaps guys, I'mm glad I kept the HP contract here incase i need it to answer some of ya questions! ON the contract it has Goods INsurance and Repayment Insurance . . . . and by what you say i'll get him to attempt to get the goods insurance removed, and keep the repaymenjt insurance . . . . and its covered by supercover warranty anyway, so anything short of theft and fire and stuff i'm sure its covered hehe . . . . not that we've got anythjing to worry about! I'll get him to take in his insurance papers too to prove it too i guess . . . I also just noticed its a interest free contract, so it wont really take much off his repayments! But rather keep what he should keep . . thanks heaps for ur help :)	csinclair83 (200)
479123	2006-08-18 11:47:00	Thanks heaps guys, I'mm glad I kept the HP contract here incase i need it to answer some of ya questions! ON the contract it has Goods INsurance and Repayment Insurance . . . . and by what you say i'll get him to attempt to get the goods insurance removed, and keep the repaymenjt insurance . . . . and its covered by supercover warranty anyway, so anything short of theft and fire and stuff i'm sure its covered hehe . . . . not that we've got anythjing to worry about! I'll get him to take in his insurance papers too to prove it too i guess . . . I also just noticed its a interest free contract, so it wont really take much off his repayments! But rather keep what he should keep . . thanks heaps for ur help :) What were the goods & where were they brought?? Cheers KiwiMR2	KiwiMR2 (6464)
479124	2006-08-18 20:57:00	Do Smiths City still do interest free HP, but insurance at 10% or something of purchase price? That was a real con job.	wotz (335)
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