home insurance contents

[janzman]

I was recently looking for new contents cover on gocompare.A number of the insurance providers asked 'Has anyone living in the house ever been declared bankrupt?/ If the applicant was the sole policy holder and maybe his/her had been banrupt I cant see why this would make any difference to the insurerer. I also thought that bankrupcy details were only legal up to six years not 'ever'.

[bednobs]

insurance companies are at liberty to apply whatever criteria they want to. t is all about risk, and if they have found that previous bankrupts are a higher risk then they can refuse to insure them, or add extra premium

[sara3]

having looked for another post yesterday, the question tends to be if "anyone within the household" has made previous claims/ is bankrupt/ has convictions, etc

[matdevine21]

The reason for the question is to give background details in the insured (you).
The policy for contents insurance is based on what is known as "personnel lines" insurance which means that your own details are as important as the "risk" that is being insured.
If you do not tell the insurance company the truth then it means that the insurance company will be able to end the policy and keep the premium due to fraudulent non dis closure of a fact that is material to the risk as well as give the insurance company the right to claim "damages" (take you to court for for an award of money) but these cases are rare.