Final answer:
The characteristic that is not typical of insurance contracts among the ones listed is 'unconditional.' Insurance contracts are conditional, requiring certain terms to be met for a payout. 'Insurable interest,' 'unilateral,' and 'valued or indemnity' are all standard characteristics of insurance contracts.
Step-by-step explanation:
Among the characteristics of insurance contracts listed, 'unconditional' is not a characteristic of insurance contracts. Instead, insurance contracts are typically conditional in nature. For an insurance policy to pay out, certain conditions must be met. These include the occurrence of an insured event and the fulfillment of policy terms, such as the policyholder meeting their deductible. The other characteristics listed are typical of insurance contracts:
- Insurable interest: The policyholder must have a legitimate interest in the preservation of the life or property insured.
- Unilateral: Only the insurer makes a legally enforceable promise to pay claims.
- Valued or indemnity: Insurance contracts are either valued (a specific value is paid out) or indemnity (compensation for the actual loss) based.
Therefore, the characteristic that is not typical of insurance contracts is being unconditional.