With Insurance, honesty is always the best policy
With Insurance, honesty is always the best policy.... DUTY OF DISCLOSURE When you apply for an insurance policy, or renew or extend your existing policy, you must tell the insurer everything about you and your situation that is relevant or could reasonably be expected to be relevant to the insurer’s decision to insure you. You don’t need to disclose something you don’t know, that reduces the insurer’s risk, that is common knowledge, that the insurer knows or ought to know, or something that’s not relevant or the insurer has told you that you don’t need to disclose. ONGOING NATURE OF THE DUTY OF DISCLOSURE The person insured must, if asked, disclose anything that has arisen in the preceding 12 months that will be material to the insurance company’s assessment of the risk of renewing the policy. ❌ ❌ If you do not meet your responsibilities, the insurer may refuse or reduce a claim, cancel your policy, or do both . Here are just a few examples of some disclosure qu...