Facebook, YouTube, Twitter and other Social Networks – Risky Business?

By Roger Foisy on April 7th, 2011

When it comes to companies providing you with insurance, the job of the ‘underwriter’ is to assess the risk you present to the insurance company should they decide to insure you. Things like age, drinking, smoking, medical history, family history of medical issues etc… may be taken into consideration when determining how “risky” a client you may be. This also determines how much your insurance premiums will be.  Insurance companies at the end of the day are looking to make money and to do so means paying out the least amount of money possible.

These days, beyond the medical and application form/questionnaire, insurance companies are turning to social networks to obtain further information. Is your profile open for others to see? Do you post things like your interests in bungee jumping or sky diving? Do your pictures show you smoking when you told the insurance company you didn’t?  How about your latest “party” or “binge drinking episode”? Posting personal information on Facebook, YouTube, Flickr Linked-in, MySpace, Twitter or other social venues may provide the insurance company with additional information to determine you are a higher risk client than suggested by your medical exam or application.

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