The One With Uberrimae Fidei

Ok, maybe I'm ignorant :-P but did you know that you have a duty to report to your insurance promptly when you receive any form of traffic violations? The insurance company does not need to hassle you for these information and they don't always check until it's time to renew your policy (which you hope).

BUT, by not notifying them of these traffic tickets, you could be driving without insurance (cause your policy could be invalid by not disclosing these details) and you don't even know it. What does that mean? That means you're royally screwed! If you are involved in an accident and you need to file a BIG CLAIM, you are out of luck cause your policy does not mean squat! Note that the insurance company will refund your premiums that you've paid but really, that's not what you're worried about when you're involved in an accident. Why is this the case? It's because when you are buying insurance policy, you are entering into a contract of UBERRIMAE FIDEI (utmost good faith). That means you have a duty to be TOTALLY HONEST!

So, what's the moral of the story? Try not to pull a Pinocchio when dealing with insurance companies. ;-) By the way, this applies to insurance of ALL genres (home, car, etc).