EZ Rentals Company wants to insure the equipment that it rents to the public.To obtain insurance,EZ must have an insurable inter?est in the equipment

Question

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An insurable interest in property exists when the insured will suffer a financial loss if the property is damaged or destroyed. In the case of EZ Rentals, they have an insurable interest in the equipment at the time a loss occurs because they are responsible for replacing or repairing the equipment if it is damaged or destroyed while it is rented to the public.

EZ Rentals Company Wants to Insure the Equipment That It