What must be included in an automobile statutory condition?

The inclusion of a material change in risk as part of automobile statutory conditions is essential because it outlines the obligation of the insured to inform the insurer about any significant changes that may affect the risk profile associated with the policy. This could include modifications in the use of the vehicle, changes in the insured's address or personal circumstances, or alterations to the vehicle itself (such as upgrades or changes in usage).

Statutory conditions are designed to protect both the insurer and the insured by ensuring that all relevant information is disclosed, which can affect insurance coverage and claims. When a material change occurs and goes unreported, it could lead to disputes over coverages or denied claims. This requirement emphasizes the principle of utmost good faith, which underlies insurance contracts, encouraging transparency and communication between the insured and the insurer.