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Glossary   >   I   >   "Insurable interest" Definition            Insurable interest A term which means that any person entering into an insurance contract must stand to lose financially following the loss or damage of an insured item, or an insured event. For example a person may insure his/her property and contents since a financial loss would be incurred if damage were to be sustained. Glossary    Dictionary Search (powered by Google) WWW ITLOCUS.COM GLOSSARY.ITLOCUS.COM Translate a web page (powered by Google)      to German Spanish French Italian Portuguese Japanese Korean Chinese

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Insurable interest - A term which means that any person entering into an insurance contract must stand to lose financially following the loss or damage of an insured item, or an insured event. For example a person may insure his/her property and contents since a financial loss would be incurred if damage were to be sustained.