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insurable interest

British

noun

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

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

You own your life — you are the insurable interest — so that requirement has already been met.

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

A policy may be assigned to one who has no insurable interest if made in good faith, and not as a cloak for the procuring of insurance by one having no insurable interest.

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

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023