The extent of a person's insurable interest in property is limited:

A) to the value of that interest.
B) to the market value of the property.
C) to the maximum value of the property.
D) the reasonable value of the property.

Insurable Interest

A requirement that a person seeking to purchase insurance has a legitimate interest in safeguarding the item or life being insured from loss or damage.

Market Value

The amount for which something can be sold on a given market at a specific time.

Property

Legal rights to own, use, and dispose of land, buildings, goods, intellectual creations, and other items.