uberrima fide & Insurance

Any Insurance Contract as such is based upon or governed by the concept of 'uberrima fide' ( 'Utmost Good Faith') which is in contrast to the doctrine followed by other business dealings caveat Emptor (Buyer be aware) ,dictum that professes the buyer is responsible for checking that the goods or services they purchase are satisfactory. The implication of caveat emptor is that the contract underlying the sale is at the purchaser's risk. Purchasers must satisfy themselves that the goods are complete, are in order, and that the vendor has title to them.