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Back to insurance law
Question 1 of 20
Which of the following best describes the 'insurable interest' requirement in property insurance?
A.
The insured must have a legal or equitable interest in the property such that they suffer a financial loss if the property is damaged.
B.
The insured must be the sole legal owner of the property listed on the deed.
C.
The insured must have a blood relationship with the person who currently occupies the property.
D.
The insured must have possessed the property for at least one year prior to the loss.
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