Nearest broker: Searching for a broker nearby…
Nearest broker: 2607 Ellwood Dr SW, Edmonton, AB, T6X 0P7 Phone: 780-732-8616 10060 Jasper Ave, Edmonton, AB, T5J 3R8 Phone: 780-435-3632 , Calgary, AB Phone: 403-532-4882 322 Avenue C S, Saskatoon, SK, S7M 1N4 Phone: 639-398-4170 10325 Bonaventure Dr SE, Calgary, AB, T2J 7E4 Phone: 403-695-1050 5317 50 Ave, Taber, AB, T1G 1V3 Phone: 403-223-2377 110a McLeod Ave, Spruce Grove, AB, T7X 2H8 Phone: 780-571-1144 496 Marquis Rd, Prince Albert, SK, S6V 8B3 Phone: 306-970-8080 335 Hwy Avenue N, Picture Butte, AB, T0K 1V0 Phone: 403-732-6023 103-5020 Lac St Anne Trail S, Onoway, AB, T0E 1V0 Phone: 780-967-2282 2201 Box Springs Blvd NW, Medicine Hat, AB, T1C 0C8 Phone: 403-487-5132 550 Wt Hill Blvd S, Lethbridge, AB, T1J 4Z8 Phone: 403-394-1123 734 13 St N, Lethbridge, AB, T1H 2T1 Phone: 403-328-9114 5 St SE, High River, AB Phone: 403-652-4104 9901 103 St, Fort Saskatchewan, AB, T8L 2C8 Phone: 780-998-0881 , Edson, AB, T7E 1T6 Phone: 780-440-0075 16612 109 Ave NW, Edmonton, AB, T5P 1C2 Phone: 780-486-4488 201-4271 23 Ave NW, Edmonton, AB, T6L 5Z8 Phone: 780-466-2136 3908 97 St NW, Edmonton, AB, T6E 6N2 Phone: 780-465-6900 8170 50 St NW, Edmonton, AB, T6B 1E6 Phone: 780-469-9378 52 Ave, Drayton Valley, AB Phone: 780-621-1707 264 Midpark Way SE, Calgary, AB, T2X 1J6 Phone: 403-251-2926 1331 Macleod Trail SE, Calgary, AB, T2G 0K3 Phone: 403-278-1050 1331 Macleod Trail SE, Calgary, AB, T2G 1E1 Phone: 403-255-2252 234-7 Westwinds Crescent NE, Calgary, AB, T3J 5H2 Phone: 403-775-2100 , Calgary, AB, T3K 0S8 Phone: 403-719-9995 4632 70 St NW, Calgary, AB, T3B 2K6 Phone: 403-247-6435 5114 2 St, Boyle, AB, T0A 0M0 Phone: 780-689-3946 50 Ave, Bonnyville, AB Phone: 780-826-3147 12931 20 Ave, , AB, T0K 0E0 Phone: 403-562-2191 2903 Kingsview Blvd SE, Airdrie, AB, T4A 0C4 Phone: 403-945-8885

What is material misrepresentation?

By Viola Wallace | December 13, 2017

In the insurance world material misrepresentation means withholding or falsifying information related to your insurance policy or claim . Material misrepresentation is serious and can lead to denial or cancellation of your claim because it is considered a breach of a legal contract.

Misrepresentation can be intentional or unintentional. In the course of a claim if material misrepresentation is detected and found to be intentional your insurance company can submit your information to legal authorities and you could face prosecution related to fraud. For this reason it is helpful to work with an insurance broker who can assist you with your paperwork and ensure that everything is complete and included so that you are not exposed to serious risk and lack of coverage later on.

Honesty is Key

When you take out an insurance policy the insurance company will ask you to provide relevant information regarding your home vehicle or other possessions being insured. It is the policy holder’s responsibility to ensure all information is complete and accurate – an insurance company will not verify for you before issuing your policy. Anything that is untrue or left out may be considered material if it would have impacted the insurance company’s decision in issuing the policy determining coverage and setting premiums.

For example if you indicate that your home has sprinkler systems a burglar alarm and a water damage alarm you would likely benefit from lowered premiums. If you claim to have these safety features but it is determined that they actually do not exist during a claim review you will face issues.

If you have an existing policy and suspect that you may have accidentally left something off reach out to your broker right away to fix the error. In this situation your insurance provider is likely to update your information and will let you know if any changes to your premium may occur.

Don’t Forget Renovations and Modifications

The same principle applies to any changes or renovations that may apply to your vehicle or property. It is always advisable to chat with your broker before making changes so you can understand how your premiums may be impacted and whether you may need any changes to be included in your existing policy. A future claim might be void if you failed to update your insurance provider about a performance-enhancing transmission you installed in your car or a renovation to your home. Check out our article that goes over when you should be contacting your broker.

The risks run high when it comes to material misrepresentation and insurance. To be safe and make sure that you have everything covered you should always take the time to double check everything you submit get an opinion from a broker and be upfront about any suspected errors omissions or updates to your insured property or possessions.

Get A Quote From A-WIN

Get the best insurance deals and stay on budget.

Get A Quote

Life Events - It's Time to Reassess Your Insurance

Whether it’s heading off to university or deciding to start your own business,...

Download