Neon Signs LLC wants to insure the equipment and supplies that it uses to create its products. To obtain insurance, Neon must have an insurable interest in the property

Question

Quizplus · Accepted Answer

An insurable interest must exist at the time a loss occurs for a claim to be valid under an insurance policy. This ensures that the insured has a legitimate stake in the insured property or item at the moment it suffers damage or loss, justifying the claim for compensation.

Neon Signs LLC Wants to Insure the Equipment and Supplies