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Your Duty of Disclosure
When entering into a contract of general insurance you need to tell us
Before you enter into a contract of general insurance with us, you have a duty, under the Insurance Contracts Act 1984, to disclose to us every matter that you know, or could reasonably be expected to know, is relevant to our decision whether to accept the risk of the insurance and, if so, on what terms.
When entering into a subsequent or renewing a contract of general insurance
You have the same duty to disclose any matter to us before you renew, extend, vary or reinstate a contract of general insurance, which may affect our decision to insure you.
What you are not required to disclose
Your duty does not require disclosure of any matter:
- That diminishes the risk to be undertaken by us;
- That is of common knowledge;
- That we know or, in the ordinary course of our business, ought to know;
- Where compliance with this duty is waived by us.
Non disclosure and its consequences
If you fail to comply with your duty of disclosure at law, and/or have not answered our questions honestly and not told us what you, as a reasonable person in the circumstances would have answered, we may be entitled to reduce our liability under the contract in respect of a claim or may cancel the contract.
Fraudulent non disclosure and its consequences
If your non disclosure is fraudulent, we may also have the option of avoiding the contract from its beginning.
You may prejudice your rights with regard to a claim if, without prior agreement from the Insurer, you make agreement with a third party that will prevent the Insurer from recovering the loss from that, or another party.
Your policy contains provisions that either exclude the Insurer from liability or reduce their liability, if you have entered into any agreements that excludes your rights to recover damages from another party in relation to any loss, damage or destruction which would allow you to sustain a claim under this policy.