Legal Question in Insurance Law in Michigan

Right to not divulge financial information

I have a homeowner's claim filed with my insurance company and they want me to give a statement under oath and bring in my financial statements during the period of the claim. Do I have to provide all of my financial status to process a homeowner's claim?


Asked on 2/12/02, 11:25 am

1 Answer from Attorneys
Don Darnell Darnell & Lulgjuraj, P.C.

Re: Right to not divulge financial information

You don't have to provide this information, but if you do it might expidite your claim. When an insurance company does this they are looking to determine if you "need" the money for a purpose other than the claim. (I'm sure that you've heard a story to the effect that failing business was burned for the insurance.) You might want to consult with a lawyer prior to giving a sworn statement, as it may be affect whether or not your claim is honored.

Good luck with this.

Don

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Answered on 2/12/02, 6:14 pm


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