Insurable interest must be present in an ________ insurance contract at the time of contract and at the time of loss.

Question

Question: Insurable interest must be present in an ________ insurance contract at the time of contract and at the time of loss.

Options:

1.  Fire
2.  Marine
3.  Property
4.  Life

Answer 1

1. Fire

Insurable interest must be present in an Fire insurance contract at the time of contract and at the time of loss.

---

Explanation:

Insurable interest is a type of investment that protects anything related to financial losses.

It arises when an insured person receives a financial benefit or other kinds, without any repairs or damage to the guaranteed item.