Duty of Disclosure
Before you enter into an insurance contract, you have a duty to tell us anything that you know, or could reasonably be expected to know, that may affect our decision to insure you and on what terms.
You have this duty until we agree to insure you. You have the same duty before you renew, extend, vary or reinstate an insurance contract. You do not need to tell us anything that:
- reduces the risk we insure you for; or
- is common knowledge; or
- we know or should know as an insurer; or
- we waive your duty to tell us about.
Non Disclosure by you
If you do not tell us anything you are required to, we may cancel your contract or reduce the amount we will pay you if you make a claim, or both. If your failure to tell us is fraudulent, we may refuse to pay a claim and treat the contract as if it never existed.
Documents we provide to you
- a copy of the policy wording, which can also be downloaded from firsttitle.com.au;
- a copy of the policy Schedule A upon policy issuance;
- details of your duty of disclosure under the Insurance Contracts Act 1984.
Ordering title insurance with First Title is easy.
- Complete the online order form and attach pages of the contract for sale that include, vendor name(s), purchaser name(s), property address, settlement date and purchase price. Also attach a copy of the Title Search.
- First Title will process the order form and, if approved, provide a Commitment to Insure.
- The premium can be paid prior to or on the day of settlement by way of BPAY, Credit Card or Cheque.
- On receipt by First Title of the payment of the premium the Policy will be issued and becomes effective upon settlement.
Note: First Title will not provide cover for risks identified in the contract of sale or any written report/document obtained by you. Other exclusions also apply as set out in the Policy Wording and Important Information document.