An insurable interest is the right to insure the goods against any risk of loss such as damage or destruction.

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An insurable interest is the right to insure the goods against any risk of loss such as damage or destruction.When an insurable interest is created in the goods is important.Both the buyer and the seller can insure themselves for potential loss in the event the goods are damaged or destroyed at some point in the transaction.A key point is identifying the earliest time in the transaction that the buyer can claim an insurable interest.

An Insurable Interest Is the Right to Insure the Goods