An insurance contract can be enforced even if the insured does not have an insurable interest in the property being insured.

Question

Quizplus · Accepted Answer

An insurable interest means that the policyholder would suffer financial loss if the property being insured is damaged or lost. Without an insurable interest, the insurance contract lacks a legal basis and cannot be enforced. Therefore, an insurance contract cannot be enforced if the insured does not have an insurable interest in the property being insured.

An Insurance Contract Can Be Enforced Even If the Insured