A warranty is either express or implied.
The PolicyWarranties
Section § 440
This law section defines a warranty as either something explicitly stated (express) or something that is assumed to be present (implied).
warranty express warranty implied warranty
Section § 441
This law says that if an insurance policy includes a statement about the person or item being insured, or the risks involved, and presents it as a fact, it is considered an express warranty. An express warranty is a guarantee that the stated facts are true and will be upheld.
A statement in a policy of a matter relating to the person or thing insured, or to the risk, as a fact, is an express warranty thereof.
insurance policy statements express warranty insured person
Section § 442
This law states that you don't need specific wording to create a warranty. As long as the intent to make a warranty is clear, the exact words don't matter.
A particular form of words is not necessary to create a warranty.
warranty creation requirement for warranty form of words
Section § 443
This law states that any explicit promises or guarantees (warranties) related to an insurance policy must be included in the policy document itself or in a separate document that the insured person signs, and that document must be mentioned in the policy as a part of it.
Every express warranty made at or before the execution of a policy shall be contained in the policy itself, or in another instrument signed by the insured and referred to in the policy, as making a part of it.
express warranty insurance policy policy document
Section § 444
This law states that a warranty can cover conditions or facts from the past, present, future, or any combination of these time periods.
A warranty may relate to the past, the present, the future, or to any or all of these.
warranty past coverage present coverage
Section § 445
This law means that when an insurance policy includes a statement about intending to do or not do something that significantly impacts the risk, it's considered a promise that the action or inaction will definitely happen.
A statement in a policy, which imports that there is an intention to do or not to do a thing which materially affects the risk, is a warranty that such act or omission will take place.
insurance policy statement materially affects risk insurance warranty
Section § 446
This law says that if an insured event happens, becomes illegal, or impossible before a warranty's terms need to be met, failing to meet that warranty doesn't cancel the insurance policy.
When, before the time arrives for the performance of a warranty relating to the future, a loss insured against happens, or performance becomes unlawful at the place of the contract, or impossible, the omission to fulfill the warranty does not avoid the policy.
insurance policy warranty insured event
Section § 447
If someone breaks an important promise or key part of an insurance policy, the other person involved can cancel the contract.
The violation of a material warranty or other material provision of a policy, on the part of either party thereto, entitles the other to rescind.
material warranty material provision policy violation
Section § 448
If a policy doesn't explicitly state that breaking certain rules within it will cancel the policy, then breaking a minor rule won’t nullify the policy.
Unless the policy declares that a violation of specified provisions thereof shall avoid it, the breach of an immaterial provision does not avoid the policy.
insurance policy interpretation policy breach policy provisions
Section § 449
This law explains that if an insurance policy's warranty is broken without any fraud involved, the insurer is released from their obligations starting from the time the breach happens. If the warranty was already broken from the beginning, the insurance policy never becomes valid or effective for covering any risks.
A breach of warranty without fraud merely exonerates an insurer from the time that it occurs, or where the warranty is broken in its inception, prevents the policy from attaching to the risk.
breach of warranty insurance policy exoneration of insurer
