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Why is insurance a unilateral contract?

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Why is insurance a unilateral contract?

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Other related questions to my question are:-

Is an insurance policy a unilateral contract?

What is an unilateral contract?

What is an example of a unilateral contract in insurance?

What makes an insurance policy a unilateral contract quizlet?

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The correct answer is: The other party doesn't have the same legal restrictions under the contract. An insurance contract is a unilateral contract because the insurer promises coverage to the insured when the former recognizes the latter as an official policyholder.Jan 12, 2018

The title of my answer can be What is a Unilateral Contract?

 You can read more about by answer on Definition from Insuranceopedia

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