insurable interest
insurable interest see interest 1

Merriam-Webster’s Dictionary of Law. . 1996.

insurable interest
n.
A connection or relationship with a person or thing that is substantial enough to bring a real benefit or advantage to the person who wants to insure it, generally because the person or thing provides him or her with money or some other valuable thing, thus justifying the need or desire for insurance coverage.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


insurable interest
a person has such an interest in property or in the life of a person if damage or destruction of the property or death of the person would expose him to pecuniary loss or liability. See insurance.

Collins dictionary of law. . 2001.


insurable interest
For a contract of insurance to be valid, the insured must have an insurable interest in the subject matter of the insurance policy. For example, the insured would suffer loss if the event insured against occurred. This is what distinguishes an insurance contract from a wagering contract.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.


insurable interest
A right, benefit, or advantage arising out of property that is of such nature that it may properly be indemnified.

Dictionary from West's Encyclopedia of American Law. 2005.


insurable interest
A right, benefit, or advantage arising out of property that is of such nature that it may properly be indemnified.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

Look at other dictionaries:

  • Insurable interest — A person has an insurable interest in something when loss or damage to it would cause that person to suffer a financial loss or certain other kinds of losses. For example, if the house you own is damaged by fire, the value of your house has been… …   Wikipedia

  • insurable interest — The legal right to enter into an insurance contract. A person is said to have an insurable interest if the event insured against could cause that person a financial loss. For example, anyone may insure their own property as they would incur a… …   Big dictionary of business and management

  • insurable interest — Such a real and substantial interest in specific property as will prevent a contract to indemnify the person interested against its loss from being a mere wager policy. Such an interest as will make the loss of the property of pecuniary damage to …   Black's law dictionary

  • insurable interest — Such a real and substantial interest in specific property as will prevent a contract to indemnify the person interested against its loss from being a mere wager policy. Such an interest as will make the loss of the property of pecuniary damage to …   Black's law dictionary

  • insurable interest — An insurance term referring to the relationship between a policy s insured person or property and the potential beneficiary. The beneficiary must have an insurable interest in the insured person or property to receive payment of the policy if the …   Financial and business terms

  • insurable interest — draudimo interesas statusas Aprobuotas sritis draudimas apibrėžtis Nuostoliai, kurių gali patirti draudėjas, apdraustasis arba naudos gavėjas įvykus draudžiamajam įvykiui. atitikmenys: angl. insurable interest šaltinis Lietuvos Respublikos… …   Lithuanian dictionary (lietuvių žodynas)

  • insurable interest — noun an interest in a person or thing that will support the issuance of an insurance policy; an interest in the survival of the insured or in the preservation of the thing that is insured • Hypernyms: ↑interest, ↑stake * * * noun : an interest… …   Useful english dictionary

  • insurable interest — An essential of a valid contract of insurance, being, in general, that which takes a contract out of the class of wagering policies; best defined in reference to the particular risk or thing insured. 29 Am J Rev ed Ins § 432. See interest or no… …   Ballentine's law dictionary

  • insurable interest — /ɪnˌʃυərəb(ə)l ɪntrəst/ noun the value of the thing insured which is attributed to the person who is taking out the insurance …   Dictionary of banking and finance

  • insurable interest in property — An interest in property to the extent that the owner of the interest derives a benefit from the existence of the property and will suffer a loss from its destruction. 29 Am J Rev ed Ins § 438. Any interest in property or any relation thereto or… …   Ballentine's law dictionary

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