Q: Would it be insurance fraud not to disclose a recent accident with an unresolved claim to new insurance company
I had a minor accident yesterday (10/12 - no injuries, cosmetic damage to both vehicles) where I will likely be determined to be at fault. My insurance coverage lapses on 10/16 and I was wanting to switch companies anyway. I can get a policy that starts 10/14, before the other party’s claim against me is resolved. Would it be insurance fraud not to disclose this unresolved claim when applying for the new policy?
A: A Colorado attorney could advise best, but your question remains open for a week. Until you're able to consult with a Colorado attorney who could advise under local law (insurance industry practices involve state law across the nation), the short answer is that it's possible an insurance carrier could make a case of fraud, based on intentionally or knowingly misrepresenting or omitting information that deceives the other side for financial or personal gain. This is a quick thumbnail sketch of the concept of fraud. If push came to shove in denying a future claim, it's possible a carrier could roll out more state-specific definitions under Colorado insurance laws. Again, a local attorney could advise with more definitiveness in making the best decision, but as a general insurance principle, making full disclosure could give peace of mind for future claims. Good luck
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