Once you take out a home and contents insurance policy, you are legally bound by the terms and conditions of the policy. Failure to comply with these conditions is punishable by law so you have to be very careful. One of the most common offenses related to insurance is fraud. If you make false claims and get caught, you can be criminally prosecuted resulting in huge penalties and jail time. It is also important to be completely honest with on your application form. If you lie and the insurance company finds out, this can result in imprisonment and even losing your home. Read the rest of this entry »