If not then don’t lose your insurance cover because you forgot to tell your insurer something.

Every year people who innocently leave out some information have their insurance policy avoided and have no cover.

If you fail to disclose any material information at the time of seeking insurance or renewing a policy then your insurer can elect to avoid the policy.  This means they do not have to pay out on your claims.

Material information is something they would want to know to decide:

  1. On giving you insurance at all;
  2. Setting the terms of cover; or
  3. Setting the premium.

If your policy is avoided you may also have difficulty obtaining future insurance (because you would have to tell them that you had an insurance policy avoided for non-disclosure).  This in turn can have flow on effects such as getting a house loan (you need insurance cover for the house).

You should tell the insurer about all matters rather than leave them out.  For example a speeding ticket or modifications to your car can be relevant to car insurance and your full medical history is relevant to life, disability or income protection insurance.

Can you correctly remember your full medical history?  It is much safer to check your records first.  If in doubt ask the insurer if they consider something relevant and make a note of their response.

Not giving all relevant information may result in the loss of cover when your car is crashed or house burnt down.  Why take the risk?  After all that is what you are paying the insurer to do.