Criminal convictions & bankruptcy insurance

Criminal convictions & bankruptcy insurance

Turning over a new leaf is not always recognised in the insurance community and not a very commonly known fact is that most providers will not insure someone with a criminal conviction – regardless of the nature of the crime or the length of time that has passed since it happened. People with a non-custodial criminal conviction by their name or likewise, anyone that has previously fallen foul of bankruptcy, are immediately seen as a greater risk and therefore will either not be insured or will incur significantly higher premiums.

The question may not always be asked by insurance providers but a failure to disclose a previous conviction or bankruptcy could result in your policy becoming void and compensation legally withheld by the insurance provider, in the event of a claim.

There are companies however, that specialise in the provision of insurance for those previously excluded or facing extortionate charges. As specialists, they will take into account an individual’s personal history and circumstances and should be able to offer all the benefits of a standard policy.