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vikivk
Junior Member
United Kingdom
194 Posts |
 Posted - 20 March 2009 : 10:53:58
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Hi there
I have been looking into getting contents insurance for the flat I rent with my partner. Most places I have looked have asked if any of the occupants are Bankrupt. Now as it doesn't give a time limit in which anyone was declared bankrupt I said yes although I was discharged 3 years ago. Is that the right thing to do? Or, is it asking for people who are declared but not yet discharged?
After answering Yes I have been told they cannot offer a quote as there is a risk. Why is this? It says nothing about other debts e.g. IVA, CCJ's etc so why just Bankruptcy?
I'm in need of contents insurance so don't know what to do now?
Things can only get better... |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 20 March 2009 : 15:50:16
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If they are asking if anyone is bankrupt, then you can quite truthfully state that you are not, as you are now discharged.
If they ask if anyone has ever been bankrupt then obviously you would have to answer yes.
The glimmer gets brighter all the time
Jan
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 20 March 2009 : 15:58:04
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We were refused insurance when I was bankrupt and eventually managed to get it through Lloyds TSB. When the renewal came through my OH phoned and said I was no longer BR and the price went down slightly.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
21 IPA payments made, 15 to go - on the home straight! |
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xmas baby
Average Member
537 Posts |
Posted - 20 March 2009 : 16:24:19
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Crikey, this is worrying. I currently have contents insurance taken out with Churchill, which I make monthly direct debits. Does this mean I am no longer able to continue with this cover or does it mean that if I tried to arrange new cover with a different provider, then I may be refused due to my bankruptcy. To be honest I can't see why being bankrupt makes you a 'riskier' individual than a non bankrupt, particularly when you're making payments by direct debit. Fair enough, if you default on any monthly repayments then they should take further action, but just to prohibit you from taking out insurance in the first place purely because you are bankrupt isn't fair surely?
xmas baby |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 20 March 2009 : 16:27:08
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I wasn't happy either, especially as the question was 'does anyone in the household have a criminal record or are they bankrupt?' I really objected to it being in the same sentence.
I had my car insurance with Churchill when I was BR and I was advised to tell them about the BR and they didn't have a problem with it.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
21 IPA payments made, 15 to go - on the home straight! |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 20 March 2009 : 16:58:38
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I think it is stupid that they do this.
You are no more a risk than the next person, and if you miss any instalments, then they can cancel the insurance.
If you are paying the lot upfront, I wonder if they do so the same?
The glimmer gets brighter all the time
Jan
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 20 March 2009 : 20:59:02
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When we had problems the contents insurance was in Dave's name and he was paying up front!
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
21 IPA payments made, 15 to go - on the home straight! |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 21 March 2009 : 11:20:46
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Ridiculous!
How on earth can you be a risk if you have paid the premium upfront?
Perhaps they think you are dodgy and likely to make fraudulent claims if you're bankrupt!
The glimmer gets brighter all the time
Jan
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Topic |
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Home Insurance declined due to Bankruptcy?
