Common Home Insurance Lies and Misrepresentations
What would be the impact of not telling the truth about your house to your insurance company agent? Would there be any difference if you make some exaggerations or withhold some information?
Whatever your reason for not giving accurate information, not being truthful to your home insurance company may lead to serious complications.
1. Not disclosing about having a dog
Having a dog with a breed may cause higher insurance premium payments. However, the insurance company would not cover any further claims involving dogs if not declared. It could also be a ground for blacklist.
2. Whether you have a pool or trampoline
These may require you to add extra coverage to the policy. If you lie to avoid it, the insurance company may deny any claims in case of an accident involving pools or trampoline.
3. If you have a fireplace or woodstove
Since this may increase the risk of fire, the insurance company may apply additional costs to the policy. However, not declaring them may be the reason the insurance company claims may be denied.
4. Purpose of the house
Basically, a home insurance policy is conceived in detail to ensure a house being used as a private residence. Using this for other purposes such as Airbnb, rental/lettings or other situations other than personal home may break the insurance contract terms.
5. During renovations or repairs
Not disclosing about the ongoing renovations to the insurance company may deny you for some further claims if there would be a need during the project.
Insurance policy is your immediate help in case of a home emergency. It is important, to be honest with your agent so you would get the right kind of policy.