Qualified advisers answering your
Financial Questions
call 0800 092 1245

UK insurance trap could hit 7 million people

It has been revealed that a number of UK insurance companies have small print built into their contracts, one of which demands that those acquiring policies need to reveal any past convictions or minor offences against their name. A recent case regarding a property which was the subject of an arson attack brought the small print to light when a £241,000 payment was paid back to Aviva after the company became aware that the owner of the property had received a £150 fine for a benefits offence some years ago.

It is estimated that 7 million people in the UK could well fall into this specific trap having failed to highlight any past misdemeanours on their original application forms. It is also believed that if anybody staying in the property has a criminal conviction then they could also invalidate what would otherwise have been a perfectly legitimate insurance policy. When you consider that many of the offences which have not been highlighted by customers have nothing to do with any potential insurance claim in particular, it does make you wonder why these clauses were inserted in the first place.

Yet again the UK insurance industry appears to have "pulled a fast one" and more and more people could find out the hard way.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details