home insurance - have you ever been bankrupt

missbling2022

hi all

in need of some advice, me and my husband were made bankrupt nearly 30 years ago. we were discharged from bankruptcy along time ago, however I in the middle of renewing our home insurance and for some reason all the companies want you to declare if you have EVER been bankrupt, they don't ask how long ago, and then want you to go to a specialist firm who want to charge over £600 without any added extras. i haven't across this before, they usually ask you to state a over or under 5 years. is anyone aware of this change and how to deal with it.

thank in advance

Isthisforreal99

Pretty sure most insurances ask if ever for bankruptcy. 5 years for claims, convictions (for car) etc but nearly all ever for bankruptcy

MyRealNameToo

https://forums.moneysavingexpert.com/discussion/6655798/home-insurance-have-you-ever-been-bankrupt

The majority have always asked if you have ever been made bankrupt, some ask it as a direct question, others require you to agree to some assumptions that state you and no one living at the property have ever been made bankrupt.

Occasionally there are some that ask about a period of time, Direct Line Group used to ask about the last 5 years but havent looked recently to see if they've changed or not. In principle the aggregators probably do ask but then ask for when so can filter it or not depending on individual insurers requirements.

It's certainly one to answer honestly; I've seen several policies voided because they had failed to declare a bankruptcy and because the insurer wouldnt have offered terms had it been declared it doesnt matter if it was a careless mistake or an intentional one.

3Commando

Yet, they wouldn’t be able to confirm this after that significant period of time has elapsed.

So, it’s a bit of a moot point.

MyRealNameToo

https://forums.moneysavingexpert.com/discussion/comment/81888680#Comment_81888680

As with most false disclosures, the majority come to light at claims stage because customers just tell the insurer. Sometimes it comes after careful investigation with cognitive questioning and other techniques but most the customer just openly admits it during the claim notification process.

Remember CUE also contains underwriting information so if the OP has been declaring the bankruptcy and their insurers are an active user of CUE it will be there for a while yet.

luvchocolate

Mine was terminated upon my BR in 2012.

When i renew the assumptions are no one in the property has ever been BR.

I always declare it.. time passes it has les of an impact

3Commando

My comment wasn’t made with the intention of people intentionally giving false information, merely upon the likelihood of matters coming to light.

I used to “investigate” for a living 😇

missbling2022

thank you all for your responses. i have managed to get some quotes now with LV & Direct Line. so will go with one of them. thanks again