INSURABLE INTEREST
(noun)Definitions
There is 1 meaning of the phrase
Insurable Interest.
Insurable Interest - as a noun
An interest in a person or thing that will support the issuance of an insurance policy; an interest in the survival of the insured or in the preservation of the thing that is insured
Example Sentences
"In order to have a valid insurance policy, one must have an insurable interest in the property being insured."
"As a business owner, I have an insurable interest in the well-being of my employees."
"He couldn't obtain life insurance on his neighbor because he did not have an insurable interest in their life."
"When buying a car, it is important to have an insurable interest in the vehicle."
"The court ruled that the plaintiff did not have an insurable interest in the stolen artwork."
