House insurance renewal and joint policyholder.

pierrored

The renewal of the House Insurance for 2013/2014 for my wife and myself came recently.The renewal date is 26/09/13.

We have always been joint policyholders but my name has been the one the policy was sent to.

I found a cheaper deal with another company and bought it . I was the person to whom the policy would be sent with my wife as joint policyholder.

I then realised that last year for 2012/2013, for the first time in many years, my wife purchased the policy online, but I used my credit card to pay for it.(my memory is getting worse now I'm over 65)

When I filled in the renewal form to purchase my policy from the new company I filled it out as if I had been the main policyholder last year.I was the joint policyholder.
I even gave the new company last year's policy number as the last insurance that we had even though my wife was classed as the main policyholder.

We made a claim for a broken drain back in 2007 but nothing else for about 30 years.

I really thought that as joint policyholder I could say that there were no claims in the past 5 years and that the 2012/2013 policy number equally belonged to both my wife and myself when filling out the new insurance form.

Could anyone be kind enough to enlighten me because I would not like to give my new insurance company wrong information which could invalidate our insurance.

my_names_dave

For home insurance you are treated as equals, unlike car insurance where the claims are attributed to the individual drivers. You will not need to disclose the claim if the insurers are saying they only need claims for the past 5 years so there is not problem. Hell, you could switch positions each year if you wanted to!

Spikey1

I agree with Dave....and yes a claim from 2007 is outside of the 5 year disclosure period anyway.

For some types of claim, usually floods & subsidence, the question asked is not "have you made a claim in the last 5 years ?" ...instead it is have you "ever" had such a claim.

Just as long as you're certain that the questions asked was "in the last 5 years" and not "ever"...you'll be ok.

Cheers

pierrored

Do you mean that the person who applied for the insurance and the joint policyholder are both equal on the policy and every year could change being the applicant and the joint applicant between both of them?
Would the insurance company accept this?

my_names_dave

If legally you jointly own the property then you must have insurance in joint names. It's as simple as that. It doesn't matter who the lead is. There are some properties that are jointly owned by three or four people (or more), so must all be named on the insurance, and the 'lead' person is usually the one who can bothered to do all the paperwork!

But bear in mind however, that all claims would go under each persons names, and that all questions relating to 'policyholder(s)' (eg criminal convictions etc.) would apply to all joint owners. Very important is that. So if you were a 'joint' owner, and went and bought your own house, you would still have to declare any claims on any other properties you have an interest in.

pierrored

Thanks Dave and Spikey.

Do you mean that the person who applied for the insurance and the joint policyholder are:-
1. Both equal on the policy and
2. Every year they could change who was the applicant and the joint applicant between them?

Would the insurance company accept this?

my_names_dave

pierrored wrote: »

Thanks Dave and Spikey.

Do you mean that the person who applied for the insurance and the joint policyholder are:-
1. Both equal on the policy and
2. Every year they could change who was the applicant and the joint applicant between them?

Would the insurance company accept this?

See above.

Spikey1

Yes....the Joint Policyholders are equals

It doesn't matter who actually completed the application and made the payment. One year it could be you, the next year it could be your wife. As long as you have applied for a Joint Policy the contract, and all of its terms & conditions, is held jointly.

Cheers

pierrored

Dave and Spikey your advice has been invaluable. Thank you.