Mr. Mahesh takes out an Insurance Policy on His House. He sells His House, After a Couple of Months of taking the Policy. In Case, there is Some Damage to the House, can Mr. Mahesh receive the Claim?

Question

Quizplus · Accepted Answer

Insurable interest must exist at the time of the claim, not just at the time the policy is taken out. Since Mr. Mahesh no longer owns the house, he cannot claim any loss on it.

Mr Mahesh Takes Out an Insurance Policy on His House