The Consequences of Lying on Your Insurance Policy
We’ve all told a little white lie or two. And if you say you haven’t, you are lying. Lying to your insurance agent or on your insurance policy is a lie that is not worth telling. All you’re doing is hurting yourself. And the place it’s going to hurt the most is you bank account. Lying to your broker can be ridiculously costly.
When we tell a white lie, it’s not because we’re malicious, but because we try to make ourselves look a little bit better than we are. Like when you take a survey about your TV viewing habits, and you embellish a little on how much History Channel you watch, or how many documentaries, you neeeevvvveeeer watch reality TV, and only read books from the literary canon… That Twilight series in the corner was a leftover from the previous owner, right? White lies.
Providing false information to your insurance provider can result in a cancelled policy
Lying about TV and reading habits is one thing, it’s practically victim free. But, when you lie on your insurance policy there can be severe consequences. The most serious being that the insurance provider could render your policy invalid if they find out. And they usually find out right after you file a claim.
We understand the temptation to fib a little on your policy. But, we want to discourage you vehemently from lying to your insurance broker.
It may seem easy to omit a few details, like an uncovered pool, major renovations and modifications to property or car, that you have a home office, or that you own a trampoline.
It seems easy to embellish on a few items as well, like making you TV bigger and better than it is, adding a few MacBooks to the inventory list, or jewelry that you own.
Work with an independent Colorado insurance broker to find the best insurance
But, when the neighbor’s kid gets hurt on your trampoline, and you file a claim, your provider is going to say “what trampoline? you have a trampoline?” and before you know it you are looking at the expensive end of a cancelled policy. Any money you may have saved by lying on your policy and reducing your premiums is not nearly going to be enough to cover the cost of medical bills, rehabilitation, etc. if someone gets seriously hurt.
Independent Insurance Broker in Thornton, Colorado
Call an AAI Central broker and we’ll help you find the best policy for all of the things you own and the lifestyle you lead. When you need your insurance the most, we’ll make sure that you are covered and protected, for ALL OF IT! And that’s the most important part of having insurance in the first place.