www.iva.co.uk

Hi there,

I am looking to get house contents insurance but the guy i share the house with is a discharged bankrupt and I've now found out that it seems pretty much all insurance companies either won't insure me or have hefted up the premiums.

So is this right, if you have been or have a bankrupt person in the house you lose the option of being insured by a lot of people, seemingly for life? It's kind of shocked me to be honest

Any recommended companies who won't ask this question or will cover me?

Also if I may ask, I have previously been in a, now, discharged IVA, would this count against me for insurance? Most companies ask about dicharged bankrupt, not IVA.

Thanks,
Andy

Hi Andy, you can answer honestly you're not a discharged bankrupt as if they don't mention an IVA then I wouldn't mention it either. As for the insurance, I know Skippy may know a little about house insurance post bankruptcy.

Thanks for the response.

Well that's what i thought, unfortunately it is a bit by the by as there is someone in the house who was bankrupt and thats all that seems to matter

If you take a look at Skippy's blog she may have something in there as it's about her journey within bankruptcy. Alternatively she'll be around later I'm sure and offer you some excellent advice in respect of insurance. x

We had the same problem, and to make matters worse we live in a flood risk area. We got our contents insurance through the AA (I think the actual insurer is Lloyds), although it might be worth looking at More Than - I've just done a quote with them and it didn't ask about flooding or BR.

Ours isn't due for renewal at the moment so I haven't read the small print though!

Thanks for the advice. I looked at the co-op and more than and they were quite expensive, but I also looked at directline and that was really the best value found so far and they haven't asked either only issue is I need to pay all in one go.

I just don't understand why bankruptcy in the past is a problem for contents insurance?

I thought More Than were fairly cheap, about £14 a month for us. The Co-op wouldn't even touch us because of the flood risk.

andym wrote:

Thanks for the advice. I looked at the co-op and more than and they were quite expensive, but I also looked at directline and that was really the best value found so far and they haven't asked either only issue is I need to pay all in one go.

I just don't understand why bankruptcy in the past is a problem for contents insurance?

Its because bankrupts are more likely to make fraudulent claims. Dont shoot the messenger but the wife went for horse insurance with the NFU and was told they wouldnt cover her as she is more likely to commit fraud. This isnt right and hopefully isnt always the case. Also the small print in many an insurance policy document may well mention insolvency procedures making policies null and void.

Paul

It's ridiculous, especially when the policy isn't even in the BR's name!