Home Insurance Daily Digest

Insurable interest is a state where a certain person experiences a loss (physical, financial) over the damage of a property or a disability or a loss of a person.  As a policy rule, anybody with an insurance interest in the property should be listed on the policy. A basic requirement for all types of insurance is the person who buys a policy must have an insurable interest in the subject of the insurance. You have an insurable interest in any property you own or which is in your possession.