Miata Mailing List: November 1993, Message #56
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   From: buck@petra.ma30.bull.com (Kenneth J. Buck)
Subject: Misleading your ins co (was mx5 brakes and more power)
   Date: Thu, 4 Nov 1993 07:01:55 -0500

> From: bruce@lurch.Data-IO.COM
> Subject: Re: RE>Re: mx5 brakes and more power (fwd) 
> Date: 	Wed, 3 Nov 1993 18:53:43 -0500
> 
> When you mislead (ok, defraud) your insurance company about aftermarket
> performance equipment, not getting reimbursed for the stolen supercharger is
> the least of your worries. [...] They could refund
> your premium, and you will be on your own defending against a $250,000
> punitive damages claim.

this is a valid concern.  fortunately, there's a difference
between "incorrectly answering the questions they ask"
and "not volunteering information they don't ask for."

the ins co's theory is that if you don't tell them the truth about
things that would cause them to raise your rates, then that's
pretty similar to just not paying the bills, so the results should be
equivalent (you get no coverage if they find out - actually worse,
they can sue *YOU* for intentionally trying to defraud them).
much as i dislike ins co's, i guess i have to agree with them
on this policy.

maybe this is a variation on the new military policy:
if they ask, tell.
if they don't ask, don't tell.
but either way, BE SURE you've read the fine print so
you know what their rules are!


--                                             
Ken Buck                                          /|
Internet: k.buck@ma30.bull.com                \'o.O'    ACK!
Mail:     Bull, MA30-833A                     =(___)= THPTPHH!
          300 Concord Rd, Billerica, MA 01821    U