In India, insurance contracts are governed by the Insurance Act, 1938, and the Insurance Regulatory and Development Authority of India (IRDAI) Act, 1999. The general principles of insurance contracts in India are as follows:

Utmost Good Faith: The principle of utmost good faith requires both the insurer and the insured to disclose all material facts relating to the insurance contract. It means that both parties must provide complete and accurate information to each other before entering into the contract.

Insurable Interest: The principle of insurable interest states that the insured must have a valid financial interest in the subject matter of the insurance policy. It means that the insured should suffer a financial loss if the insured event occurs.

Indemnity: The principle of indemnity means that the insurer agrees to compensate the insured for the actual financial loss suffered due to the insured event. The purpose of insurance is to restore the insured to the same financial position as before the loss, and not to provide a profit.

Proximate Cause: The principle of proximate cause determines the cause of the loss or damage. The insurer is liable for the loss if it is proximately caused by the insured peril or event covered under the policy.

Contribution: The principle of contribution applies when there are multiple insurance policies covering the same insured event. It states that each insurer will contribute proportionately to the loss based on the sum insured under their respective policies.

Subrogation: The principle of subrogation gives the insurer the right to step into the shoes of the insured after compensating for the loss and recover the amount from any third party responsible for the loss or damage.

Causa Proxima: The principle of causa proxima means that the insurer will consider the dominant cause of the loss to determine coverage, even if there are multiple causes. It focuses on the immediate and effective cause of the loss.

Indemnity Period: In some types of insurance policies, such as business interruption insurance, the principle of indemnity period applies. It determines the time period for which the insured can claim compensation for the loss of income due to an insured event.

Premium Payment: The insured must pay the premium to the insurer as per the agreed terms and conditions. Non-payment of premium can lead to policy cancellation or loss of coverage.

These are some of the general principles of insurance contracts in India. However, it is important to note that specific policies and insurance companies may have their own terms and conditions that govern the contractual relationship between the insured and the insurer. It is advisable to carefully read and understand the policy documents before entering into an insurance contract.