Do I have to declare any convictions to my insurance company?

Your insurers do need to be made aware of any convictions (other than for driving) which you receive. The reason is that convictions can have an effect on the insurer’s decision to offer cover and the terms that are offered.

Utmost Good Faith

Insurance operates on the principle of utmost good faith which means that policyholders and insurers need to honest and open about anything which could affect the insurance policy. This is because insurers need to make decisions about the risk posed by what and who they are insuring.

Convictions are important to disclose because they can have an effect on the type of insurance offered or the terms that are applied.

What if convictions are discovered later?

If insurers discover a conviction after a claim is made they could refuse to pay the claim or even cancel your cover. This may mean that you will be at a large financial loss for the claim and your insurance could be cancelled. This would leave you with the bill for the claim and you may need to disclose your cancelled policy to future insurers, making it harder to get cover.

What to do about convictions

The best thing you can do is speak to your broker about it as they will be able to advise you the effect it will have, if any.

For any further information speak to your normal Centor contact or Chris Tebbit (Broking Director).