To recover under a property insurance policy,an insurable interest must exist:

A) When the policy is purchased and at the time of loss
B) When the policy is purchased,but not at the time of loss
C) Not when the policy is purchased but at the time of loss.
D) Neither when the policy is purchased nor at the time of loss.

Insurable Interest

A requirement that a person seeking to take out an insurance policy on something or someone must have a vested interest that would result in financial loss if the insured event occurs.

Property Insurance Policy

A contract that provides financial reimbursement to the owner or renter of a structure and its contents in case of damage or theft.

Time Of Loss

Refers to the specific date and time an event occurred which results in an insurance claim.