A person may have an insurable interest in a piece of property even if they do not own that property.

Name: A person may have an insurable interest in a piece of property even if they do not own that property.
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Question

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An insurable interest can exist in a property if a person would suffer a financial loss if that property is damaged or destroyed. This can be the case even if the person does not own the property. For example, a tenant may have an insurable interest in the rental property they are leasing.

A Person May Have an Insurable Interest in a Piece