An insurable interest in property must exist:
A) at the time the insurance policy is obtained.
B) at the time the loss occurs.
C) from the time the policy is obtained to the time the loss occurs without interruption.
D) for only one person at a time in a particular property.

Question

Quizplus · Accepted Answer

Insurable interest in property insurance must exist at the time of the loss to ensure that the insured has a legitimate interest in the preservation of the property and stands to suffer a financial loss if the property is damaged or destroyed.

An Insurable Interest in Property Must Exist