Do we need to declare a BR that was 15 years ago?

karma_police

We thankfully have moved on with life from where we were 15 years ago when my wife was made bankrupt. that said every so often something bring it up, currently it's home insurance renewal time, I've just been entering details into a well known comparison site and the question is:

Has anyone at the address ever been declared bankrupt? 

Can they actually ask that? It's 15 years ago, why is it relevant? Do we have to say yes? 

Thanks in advance for any advice. 

comeandgo

You answer the questions asked truthfully or you risk them cancelling your insurance and then that gives you something else to declare for evermore.

karma_police

That's what I figured. 

Hoenir

karma_police said:

Has anyone at the address ever been declared bankrupt? 

Always answer the question asked correctly. Why an organisation asks is primarily down to how they assess risk at the macro level. Nothing personal.

DullGreyGuy

karma_police said:

We thankfully have moved on with life from where we were 15 years ago when my wife was made bankrupt. that said every so often something bring it up, currently it's home insurance renewal time, I've just been entering details into a well known comparison site and the question is:

Has anyone at the address ever been declared bankrupt? 

Can they actually ask that? It's 15 years ago, why is it relevant? Do we have to say yes? 

Thanks in advance for any advice. 

Yes, there is no law that says bankruptcy is "spent" after X years, just that your debtors can no longer chase you, unlike minor criminal convictions. 

Say yes or risk them discovering the bankruptcy and voiding your policy, avoiding any claims and then having to declare that there is a bankruptcee and someone who's had insurance cancelled for the rest of your life to most insurers. 

https://www.financial-ombudsman.org.uk/decision/DRN-2405193.pdf

The above is an example of this, policyholder failed to declare their partner had been made bankrupt, insurer found out after their home was gutted by fire and the insurer voided the policy. 

MEM62

karma_police said:

We thankfully have moved on with life from where we were 15 years ago when my wife was made bankrupt. 

That's a good thing :-)

karma_police 
I've just been entering details into a well known comparison site and the question is:

Has anyone at the address ever been declared bankrupt?

In you case, the answer is yes.

karma_police said:

Can they actually ask that? It's 15 years ago, why is it relevant? Do we have to say yes? 

Yes, they can.  It is part of their underwriting process for some insurers.  You really do not want to take out an insurance policy based on providing information that you know to be incorrect.