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insurable interest

British  

noun

  1. law a financial or other interest in the life or property covered by an insurance contract, without which the contract cannot be enforced

"Collins English Dictionary — Complete & Unabridged" 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

Example Sentences

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See Examples For:

The agent said he could not add my brother because he does not depend on my income, so has no insurable interest.

From MarketWatch ● May 6, 2026

Cardiff City claim says Miller Insurance failed to properly explain the concept of an "insurable interest" for football player transfers and the requirement of a "prompt" notification of the transfer in order to secure coverage.

From BBC ● Jan. 19, 2023

Staebler: As a homeowner, you do not have an insurable interest in the contractor’s business so you cannot get insurance coverage for their business.

From Washington Post ● Oct. 13, 2021

Two insurers including AXA ART, a unit of AXA, have an insurable interest in the art works within the cathedral, Honore said, adding five adjusters had been commissioned.

From Reuters ● Apr. 17, 2019

The contract to be valid must be for the benefit of one having an insurable interest, otherwise the contract is a wager, which the law condemns.

From Putnam's Handy Law Book for the Layman by Albert Sidney Bolles

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