Assam ASSEB HS Class 11-12 Insurance Practice Questions - Assam State School Education Board (ASSEB AHSEC) Higher Secondary Insurance Examination Exam

When must insurable interest exist in a Fire Insurance contract?

Only at the time of taking the policy Both at the time of taking the policy and at the time of loss Only at the time when the fire loss occurs Only when the policy is renewed

Correct Answer:

Both at the time of taking the policy and at the time of loss

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