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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

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Best answer

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.

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