I haven't disclosed my iva to any insurers as I didn't know I had to...but I will now. I can't understand why so many people are reluctant to actually comprehend what cover it all is saying!! It is fact and 'i wasn't asked the question' just doesn't cut it as yu now know you have an obligation. Are you happy to drive around knowing you may not be insured because you aren't going to declare material information??
I am in the Harpic and Matrix camp on this one. It shouldn't be down to us to decide what is material and what is not. If something IS material, it should be addressed in the application.
This is linked to the current Capital One's threats regarding nondisclosure on PPI as an asset when a proposal was made before PPI was even generally considered as repayable. If it was material at the time they should have asked the question!
Anyway ... what HAS being or have had an IVA / BR got to do with how I drive my car ?? The only tghing I can think of is that they are accusing us of being more liable to falsify or inflate a claim. Surely I am more likely to do that if I am struggling with ever increasing debt, but, on the face of it, "solvent" ?
Should we be disclosing our credit card balances too ?? Just in case !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I don't necessarily disagree with you all in theory but you are all bringing theory into action when you clearly know your theory is wrong in law. It is not legally down to insurers to ask the question and it is not down to insurers to publish a definition of what constitutes material information...legally disclosure is our responsibility. So now yu all have explicit guidance from a professional with 46 years in the business, what are you going to do? I'm going to check with my insurance companies that I am actually insured!
I don't necessarily disagree with you all in theory but you are all bringing theory into action when you clearly know your theory is wrong in law. It is not legally down to insurers to ask the question and it is not down to insurers to publish a definition of what constitutes material information...legally disclosure is our responsibility. So now yu all have explicit guidance from a professional with 46 years in the business, what are you going to do? I'm going to check with my insurance companies that I am actually insured!
I know what you are saying BoL, and, having had this particular issue highlighted as being, it seems, for whatever reason, "material", then we have to go with that and check.
But what else SHOULD we be checking / disclosing ? How about hayfever? How many of us suffer from ocassional bouts of the sneezes and haven't told our insurers. Or bee sting allergies -- imagine the carnage if you get a bee in the car with you. The list goes on ( and gets more ridiculous).
Edit to correct spelling error[:I]
Last edited by Foggy on Sun Jun 03, 2012 1:59 pm, edited 1 time in total.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I have always believed that if there are any niggles of uncertainty, honesty is always the best policy, so offering them up is best always, at least your mind will be put at rest and left in no doubt, whatsoever.
There you go, that is the $64,000 question. How? Do you decide? Where do you draw the line, i think you need to mention the bee sting allergy though, hee!hee!
I read an article recently that mentioned something about hayfever - I think it was something to do with a police force saying people shouldn't drive with hayfever. No doubt insurance companies will jump on this and use it as an excuse to get more money out of us!
As a matter of actual "Fact" not theory, many years ago a claim on a life assurance policy was still being help up six months after the client died. The reason for the hold up was the Ministry of Defence refusing to disclose why many years earlier the man had been in a Military Hospital, on the grounds that this broke the Official Secrets Act.
After about an hour on the telephone to MOD I finally reached someone with a high enough rank to exercise common sense. Yes - you've guessed it - he had been in hospital because he was allergic to bee stings !
I agree with TigerTiger - this is a free country, and everyone is free to ignore facts and pay the penalty for it, but PLEASE don't encourage others to do the same.
If you are prepared to stand on your dignity, and refuse to disclose a fact because you don't think you should have to, why bother to insure in the first place ?
If everyone in the Forum just took the trouble to write to their Insurer, ask the question, then share the reply on here, we would quickly identify those Insurers who will cover people in IVA's and those who have successfully completed them, and those who won't.
John - my insurer credit checked me for monthly payments when i took out car insurance. Does this guarantee I am insured despite being in an iva as they would know about my insolvency from the checks they ran?
