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 Posted: Fri Jan 01, 2010 2:51 pm Post subject: what is insurable interest? |
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| Insurable intrest in brief ? |
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nkr1009
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| Posted: Fri Jan 01, 2010 8:00 pm Post subject: |
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Insurable interest exists when an insured person derives a financial or other kind of benefit from the continuous existence of the insured object. A person has an insurable interest in something when loss-of or damage-to that thing would cause the person to suffer a financial loss or other kind of loss.
For example, if the house you own is damaged by fire, the value of your house has been reduced, and whether you pay to have the house rebuilt or sell it at a reduced price, you have suffered a financial loss resulting from the fire. By contrast, if your neighbor's house, which you do not own, is damaged by fire, you may feel sympathy for your neighbor and you may be emotionally upset, but you have not suffered a financial loss from the fire. You have an insurable interest in your own house, but in this example you do not have an insurable interest in your neighbor's house. |
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dhop1070
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| Posted: Tue Jan 05, 2010 4:41 am Post subject: |
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it means you stand to lose or be held accountable should their be a loss/claim...ie your name is on the title of a car, deed to the house or property, etc.
Insurance policies usually stipulate you must have an insurable interest in the property in order to insured it and/or collect on a claim. |
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mbyork
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| Posted: Wed May 18, 2011 5:44 pm Post subject: hRFHHXGyYqaYFvcmP |
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About11293.. I like it 
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| Posted: Mon May 30, 2011 6:15 am Post subject: |
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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. In order to exercise an insurable interest, you must take out an insurance policy protecting the item.
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packet04
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| Posted: Wed Jun 01, 2011 5:00 am Post subject: |
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| 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. In order to exercise an insurable interest, you must take out an insurance policy protecting the item like an [link deleted per TOU] Policy . |
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Sukhdeep
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| Posted: Fri Jun 03, 2011 10:29 am Post subject: IzqbaFYYOiMwvq |
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About11293.. Great!
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