What makes insurance contracts under sections 384.011 to 384.071 valid?

The validity of insurance contracts under the specified sections is primarily driven by the agreement of all parties involved. This foundational requirement ensures that there is mutual consent and understanding between the insurer and the insured regarding the terms and conditions of the insurance policy.

Without the agreement, there can be no enforceable contract, as contracts are built on the principle of consent among parties, typically referring to a clear offer and acceptance. While elements like payment of premiums, compliance with external standards, or involvement of licensed brokers might enhance the process or ensure proper administration, they do not alone establish the contract's validity.

Thus, the agreement of all parties signifies that there is a legal meeting of the minds, which is essential for any contract, including insurance policies, to be valid and enforceable.