What could happen if I’m ‘economical’ with the truth?

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What could happen if I’m ‘economical’ with the truth?

Where you live and where your bike is stored makes a big difference to your insurance premium. So if family members live in a lower risk area than you and have a lovely big secure garage set back from the road, the temptation is to use those details on your application.

But insurance is a ‘contract of utmost good faith’, as an insurer cannot personally check all your details are correct, so they rely on you providing accurate information in the first instance.

That’s fine as long as you don’t make a claim, but If you mislead them, then you are in breach of contract and they will withdraw cover.

Read the latest stories causing a buzz this week in Insurance…

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By MCN News