What does Material Facts mean? Read on to discover the definition & meaning of the term Material Facts - to help you better understand the language used in insurance policies.
A material fact is a critical fact that is highly relevant for insurance purposes. If a policyholder withholds a material fact and the insurer issues a policy without knowledge of this fact, then it might constitute insurance fraud. Withholding certain material facts can also void policies entirely.
We hope the you have a better understanding of the meaning of Material Facts.