Why was Joe's insurance proposal most likely declined?

Joe's insurance proposal was most likely declined due to his conviction and fine from two years ago. Insurers assess applicants for their risk profile, which includes both their personal history and any past behaviors that may indicate a higher likelihood of future claims. A criminal conviction, especially if it relates to conduct that could be viewed as risky or indicative of irresponsible behavior, can significantly affect an applicant's insurability. It raises concerns for insurers about the potential for future claims arising from similar behavioral patterns.

While factors such as the construction of the property, its remote location, and whether the property is a conversion can influence an insurer's decision, none would typically carry the same weight in assessing personal risk as a previous conviction. Insurers prioritize the moral hazard posed by an individual's past actions, which serves as a direct indicator of how they might handle risky situations in the future. Hence, Joe's past conviction is a compelling reason for the decline of his insurance proposal.