A buyer has an insurable interest in identified goods only if he or she has title to the goods.

Question

Quizplus · Accepted Answer

A buyer can have an insurable interest in identified goods even if they do not have title to the goods. For example, if the buyer has possession of the goods and has agreed to purchase them but has not yet paid for them, they may still have an insurable interest. Additionally, if the buyer has made partial payments on the goods, they may have an insurable interest in that portion of the goods.

A Buyer Has an Insurable Interest in Identified Goods Only