Which warranty is specifically stated in the insurance contract?

An express warranty is specifically stated in the insurance contract, meaning it is clearly articulated and agreed upon by both parties involved. This type of warranty is outlined in the language of the contract itself, detailing specific guarantees or promises that the insurer makes regarding coverage, benefits, or the conditions under which they will pay a claim.

Express warranties create explicit expectations for both the insured and the insurer, ensuring there is no ambiguity about the terms of coverage. For instance, if an insurance policy states that it will cover damage caused by flooding, this is an express warranty—both parties understand that flooding is included in the coverage limits.

In contrast, implied warranties are not written in the contract but are assumed to be in place based on the nature of the agreement. Affirmative warranties are conditions that must be fulfilled at the inception of the contract, while promissory warranties involve commitments that the warranty holder will take specific actions in the future.