LRingeisen
Well Known Member
When a new policy is bound, it is important to complete the application as accurately as possible. By signing it, you are certifying that all of the information is true and correct. If you notice something incorrect on the application, it is important to contact your broker right away. Since every aviation policy has to be manually renewed, gathering updated information is important (updated hours, major traffic violations such as DUIs, etc.). If you decide to stay with the same company, it?s possible that the insurance company will not require a new application; however, it is your responsibility to make sure the information is updated. Depending on the company, an application can be held on file for a couple of years; however, if you change companies at the renewal, a new application will need to be completed.
Incorrect information given on an application can result in a claim being denied and just another reminder?
Any person who knowingly and with intent to defraud any insurance company or other person files an application for insurance or statement of claim containing any materially false information or, conceals, for the purpose of misleading, information concerning any fact material thereto, commits a fraudulent act, which is a crime, and subjects such person to criminal and civil penalties.
Incorrect information given on an application can result in a claim being denied and just another reminder?
Any person who knowingly and with intent to defraud any insurance company or other person files an application for insurance or statement of claim containing any materially false information or, conceals, for the purpose of misleading, information concerning any fact material thereto, commits a fraudulent act, which is a crime, and subjects such person to criminal and civil penalties.