Coverage Denial: The insurance company may deny coverage or void your policy if it is discovered that you intentionally withheld
important information. This means that if you experience a loss or make a claim, the insurer may refuse to provide compensation.

Policy Rescission:If the insurer finds out about the undisclosed details after the policy has been issued, they may choose to rescind or cancel the policy. This can leave you without any insurance coverage, and any premiums you have paid might be forfeited.

Limited Coverage: Depending on the severity of the omission or incorrect information, the insurer may limit your coverage or add exclusions to your policy. This means that certain incidents or damages may not be covered, even if they are unrelated to the undisclosed information.

Premium Adjustments:If the undisclosed information significantly affects the risk associated with your policy, the insurer might
adjust your premium accordingly. This could lead to increased premiums if the newly disclosed details increase your risk profile.

Legal Consequences: In some cases, failing to disclose important information could be considered insurance fraud, which is a serious offense. Insurance fraud can lead to legal consequences, including fines and penalties.

Viswanathan Odatt

Mob No. 98957 68333

Email: odatt@aimsinsurance.in