Which statements are believed to be true to the best of one's knowledge but are not guaranteed to be true?

Representations refer to statements that a party believes to be true to the best of their knowledge but acknowledges that they may not be guaranteed to be accurate. In the context of insurance, when an applicant fills out a policy application, the information provided is typically considered a representation of their health status and other relevant details. The insurer relies on these representations to assess risk and determine premiums.

Warranties, in contrast, are promises that something is absolutely true, meaning that if a warranty is found to be untrue, it can lead to significant repercussions, such as voiding an insurance policy. Misrepresentations involve false statements made with the intent to deceive, and affirmations are merely statements confirming a belief or opinion without any guarantee of their veracity.

Understanding that representations are based on belief rather than certainty helps identify the nuances in communication between applicants and insurers, which is crucial for both parties in the underwriting process.