Which type of warranty is explicitly stated within the insurance policy?

An express warranty is a type of warranty that is explicitly stated within the insurance policy, laying out specific terms and conditions that both the insurer and the insured agree upon. This type of warranty provides clarity and certainty, as it explicitly details the rights and responsibilities of both parties involved in the contract. For instance, an express warranty might cover specific risks or outline particular actions that must be taken to maintain coverage. Because express warranties are documented in the policy, they serve as a definitive reference for both the insurer and the insured, reducing ambiguity in the interpretation of the contract.

By contrast, implied warranties are not documented in the policy; instead, they are understood to be part of the agreement by virtue of nature or custom, even if they aren't explicitly stated. Statutory warranties are those defined and governed by law, while exclusion warranties specify certain conditions or situations that are not covered by the policy. Each of these alternatives lacks the clarity and explicitness that defines an express warranty.