California · Insurance Code

INS §284: Except in the case of a property held by the insured as a carrier or depositary, the measure of an insurable interest in property is the extent to which the insured might be damnified by loss or injur

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What this law says, in plain English

This statute defines insurable interest in property as the extent of potential financial loss or damage the insured would suffer, excluding property held as a carrier or depositary.

Read the full statutory text

Except in the case of a property held by the insured as a carrier or depositary, the measure of an insurable interest in property is the extent to which the insured might be damnified by loss or injury thereof.

Verify at the official source: California legislative text

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