Both the buyer and the seller can have an insurable interest in identical goods at the same time.

Question

Quizplus · Accepted Answer

Both the buyer and the seller can have an insurable interest in identical goods at the same time. The buyer has an insurable interest because they have a financial stake in the goods and want to protect themselves in case of loss or damage. The seller has an insurable interest because they still have ownership of the goods until they are delivered to the buyer, and want to protect their investment until that time. Therefore, both parties can hold insurance policies on the same goods.

Both the Buyer and the Seller Can Have an Insurable