Our lawyers, Anastase E. Maragos and Robert D. Powell, break
down the concept of policy warranties, explaining the difference
between express and implied warranties, and why they are critical
for both insurers and insured parties.
When you purchase an insurance policy – whether that is for
your home, business, car, or anything else – you often must
provide representations and warranties to the insurer. These
warranties are a way of balancing the risks of the insurer and the
insured. Warrantied items are typically items which the insured has
direct control over. There are two types of warranties: express and
implied.
Express warranties are those which are clearly written out. An
example of an express warranty would be where you agree to monthly
safety inspections on the property. An implied warranty is one
which arises from a natural conclusion in the insurance contract.
An example of an implied warranty may be that you have an express
warranty to maintain a
