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Concealment

What Does Concealment Mean?

Concealment refers to the intentional withholding or hiding of material information from an insurance company during the application process or claim filing. This information is crucial for the insurer to assess the risk and determine appropriate premium rates accurately.

 

If a company discovers concealment, they may have the right to void the insurance policy or deny a claim. This is because the concealed information could have significantly impacted the insurer’s decision to offer coverage or the premium rate.

 

It’s important for policyholders to be honest and upfront with their insurance company to avoid any potential issues related to concealment.

How Does Concealment Work at PSIC?

At PSIC, we believe in building a relationship of trust and transparency with our clients. Our policies are designed to provide you with the coverage you need while ensuring that both parties fulfill their obligations in good faith.

 

Concealment is a serious matter that can undermine the integrity of our insurance contract. When you apply for coverage or file a claim, it’s essential to provide accurate and complete information about your circumstances. This includes disclosing any relevant facts that could affect our decision to provide coverage or determine your premium.

 

By being honest and upfront, you help us to assess your risk accurately and offer you the most appropriate coverage at a fair price. Remember, your honesty contributes to our ability to protect you and your loved ones.

 

If you have any questions or concerns about your policy or the disclosure requirements, you can contact our Customer Support team or your producer. We’re here to assist you and ensure that your experience with PSIC is positive and rewarding.

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