Before a loss has occurred, a fire insurance policy is assignable without the consent of the insurer, because the policy is not regarded as a personal contract between the insurer and the insured.

Question

Quizplus · Accepted Answer

Fire insurance policies are considered personal contracts, and assignment of the policy without the insurer's consent is generally not permitted because the insurer's risk assessment is based on the specific characteristics and behavior of the insured party.

Before a Loss Has Occurred, a Fire Insurance Policy Is