Declaring bankruptcy is a difficult decision, but sometimes unavoidable despite the consequences it will have on our lives. Auto and home insurance are among the aspects affected by this decision. This can lead to financial difficulties, but there are solutions to help you with your insurance.
Chez Assurances Multi-Risques, nous sommes là pour vous informer sur les conséquences d’une faillite sur vos assurances, sans jugement. Soyez rassurés, nous souhaitons vous outiller pour que vous compreniez les motifs de refus et vous permettre de mieux vous assurer après une faillite.
Reasons for refusing insurance in the event of bankruptcy
Insurance companies establish their acceptance criteria based on risk and past experience. In the eyes of many insurers, an individual experiencing financial difficulties represents a higher probability of having to pay out.
There are several reasons why insurers may refuse to cover someone who has declared bankruptcy. This may seem unfair to you, but this decision is based on the insurers’ risk assessment. As an independent insurance broker, our goal is to help you understand these risks.
A person who is bankrupt will generally have less money to maintain their car or home. They are therefore more likely to have to make a claim with their insurer if a problem arises in the future.
Nous vous recommandons la lecture d’un article expliquant pourquoi des assureurs automobile et habitation vérifient votre cote de crédit.
In short, for an insurer, debt and credit ratings increase risk, which explains why coverage is denied. Even if a person who is bankrupt has never made a claim in the past, they may still be denied insurance.
How to get insurance after bankruptcy?
It is important to inform your insurer if you declare bankruptcy or have previously declared bankruptcy. This may affect your insurance coverage. This will help you avoid insurance issues and invalid claims.
Our best advice is to be transparent. It is important to be honest with your insurer. Even if it may seem less advantageous in the short term, you will benefit in the long term in the event of a claim. Make a sincere declaration to your insurer for your car and your home, you won’t regret it.
If you are having difficulty obtaining insurance due to your financial situation, we strongly advise you to contact an independent insurance broker. This broker will be able to assist you and provide valuable advice.
De plus, nous vous recommandons d’éviter les prêts automobiles à taux d’intérêt élevé parfois alléchant. Autant pour votre prime d’assurance automobile que pour vos finances personnelles, cela pourrait vous nuire. Pour en savoir plus, nous vous recommandons de lire notre article sur la 2e et 3e chance au crédit.
Choosing an independent insurance broker
We are aware of the difficulties that financial bankruptcy can cause. We understand the challenges of having to start over from scratch with your suppliers, including your insurance company.
Take advantage of this experience to grow and consult with professionals, such as an independent insurance broker. We can guide you and help you free yourself from this burden to make your next steps easier.