Rachel is filling out an application for a homeowners policy. She is truthfully answering the questions regarding her home's location, size, age, etc. Which of the following is a true statement?
1: Providing inaccurate information on the application may result in lower premiums.
2: Rachel should overstate the value of her personal property to ensure full coverage.
3: Truthfully answering application questions helps ensure proper coverage and policy pricing.
4: Rachel can withhold information about recent home renovations to reduce premiums.