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Home Insurance with Financial Problems

Quick to buy online

  • Insurance with CCJs, IVAs and bankruptcy.
  • Poor credit history not a problem.
  • Underwritten by AXA Insurance.
David Joyson

Written by

David Joyson

Home Insurance Expert & Customer Champion

Sophie Kamkar

Reviewed by

Sophie Kamkar

Content Marketing Manager

Less than 1 minute

Updated: 12 Mar 2024

Financial problems home insurance

Buying home insurance when you have been bankrupt

If you have a poor credit history, have been or are currently declared bankrupt, or have a County Court Judgement (CCJ) or Individual Voluntary Arrangement (IVA) to deal with your debts, you may have difficulty in buying home insurance.

Unlike many insurance companies, we can usually provide you with an online home insurance quote in these situations, quickly and easily – we will need to know if any policy holder or resident has been bankrupt in the last 5 years but we don’t ask about CCJs and IVAs.

Save money and avoid a credit check by paying annually

When you buy your policy, we offer two payment options allowing you to choose whether you pay a single amount up front or monthly instalments. The monthly payment option has a transaction fee and it requires you to have a credit score check undertaken by the credit provider. So, if you’ve already had financial issues to contend with, the easiest and least stressful payment method is to pay your annual premium in one go with a payment card.

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What’s covered by BUILDINGS & contents insurance?

Home insurance provides financial protection if you need to repair your home or replace your belongings after they’ve been stolen, damaged or destroyed.

It comes in two parts: buildings insurance (cover against damage to the property itself) and contents insurance (for damaged or stolen items within the home). These can be combined or bought separately, so the first step is deciding which option is better for you.

What we offer

Quick home emergency response times

Have a home emergency, such as electricity failure, faulty locks or vermin infestation? With the 24/7 Home Emergency cover, which we provide as standard, you can typically get an engineer at your home within four hours. And if you’re worried about an uncontrollable leak in your home, we aim to have an emergency plumber to you within two hours.

Extreme weather conditions may extend response time. Policy terms and claim limits apply.

5 star rated buildings cover

Our building insurance has been given the highest rating by independent financial research companies, Defaqto and Moneyfacts.

Repair guarantee

Any buildings work we undertake is guaranteed for 24 months following a claim and any contents repair work we undertake is guaranteed for 12 months.

New for old

Where we replace an item, we will do our best to meet the original specification on a ‘new for old’ basis. If we can’t find an exact replacement, we’ll offer you a suitable alternative, or a full cash settlement.

Legal advice

We provide Legal Protection cover as standard, giving you access to telephone legal advice on any personal legal issue, under the laws of the UK, any European Union country, the Isle of Man, Channel Islands, Switzerland and Norway.

What isn’t included?

Damage cause gradually, or by wear and tear, or by failure to fix a known issue.

Faulty design or poor workmanship.

Damage caused by pets.

The cost of repairing or replacing items following a mechanical or electrical fault.

Lost items.

Recommended by our customers

72% Saved money when they switched to Homeprotect*

buildings & Contents Insurance Cover Levels

Our home insurance is designed to protect your home against insured events such as fire, storm, flood, escape of water, theft, malicious damage, subsidence, landslip or heave.

Buildings cover

Covers the main structure of your home if you need to rebuild or repair it.

up to £1 million

(eligibility criteria applies)

Contents cover

Covering the value of all your possessions in the home, on a new for old basis.

from £25,000

Alternative accommodation

For you and your pets, in case you can’t live at your home while it’s being repaired after an insured event.

up to £85,000

Home emergency

Covers emergencies that occur in your home like uncontrollable water leaks, electricity failure, faulty locks and vermin infestation. Two levels of cover are available.

up to £500

Family legal protection

Provides a 24/7 legal advice helpline and up to £25,000 cover for claims involving contract disputes and property damage. For a claim to be successful, there must be reasonable prospects (more than a 50% chance) of winning the legal case. Two levels of cover are available.

up to £25,000

Trace and access

Covers the cost of detecting the source of a water or oil leak and repairing any damage caused in the process.

up to £10,000

Outbuildings cover

Covers rebuild or repair of your outbuildings (such as detached garages, greenhouses, sheds and summerhouses).

from £20,000

Liability cover

Liability cover involving accidental death, bodily injury or illness or property damage that you are legally liable to pay.

up to £5 million

Personal possessions

Cover for portable items that you take out of your home, like bags, clothes and sports equipment

Optional

Gadgets, bikes and valuables away from the home

Cover for electronic gadgets (e.g. mobile phones, laptops, tablets etc), bikes (including electrically assisted bikes) and valuables (e.g. watches and jewellery) that you take out of your home.

Optional

Accidental damage

Covers situations when unexpected accidents happen, such as spillages on the carpet, breakages around the house or drilling through hidden pipes. Two levels of cover are available.

Optional

New Customer?

If you’re deciding on whether to buy home insurance with us, you can use our latest policy booklets as a guide.

Existing Customer?

Your Questions Answered

Bankruptcy is not classed as a criminal conviction, however there is a question when you buy the policy which asks if any of the intended policy holders, or anybody living at the property, has been bankrupt in the last 5 years.

Yes. CCJ and IVA information is readily available via public records. In the event of a claim, especially a large claim or a series of smaller claims; an insurer will look very carefully at financial histories before paying out the claim. If the fact that there is a CCJ or IVA in the household is discovered and you didn’t disclose it if you were asked when you purchased the policy, the claim may not be paid out and it’s likely that your policy will be cancelled at the same time.

Unless you repay the full amount of the CCJ within one month of the CCJ being served against you, it will remain on your credit file for six years.

Your IVA will show on your record in the Individual Insolvency Register until three months after it ends, but will stay on your credit record for six years.

The length of time that information stays on your credit report depends on what type of information it is, but most information is removed after six years.

View more FAQs

Additional Cover Options

Accidental Damage

The Homeprotect policy includes the option of Basic Accidental Damage, which covers electrical home entertainment equipment (such as desktop computers and monitors, DVD and Blu-Ray players, gaming consoles, home cinema systems, sound systems and TVs) up to £1,500 per claim. An upgrade …

Learn More

Legal expenses cover

The insurance policy includes Basic Legal Expenses cover which provides up to £25,000 for legal fees you may face for disputes associated with your home; such as ownership of the insured property; and the sale or purchase of the insured property. You can upgrade to Full Legal Expenses cover.

Learn More

Home emergency cover

The insurance policy includes Basic Home Emergency cover which provides cover for common home emergencies including burst pipes; failure of the domestic power supply (gas or electricity); and removal of pests or vermin. You can upgrade to Full Home Emergency to include cover for roof …

Learn More

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