Alabama § 27-14-4 Insurable Interest - Property Insurance

Alabama Statutes

§ 27-14-4 — Insurable Interest - Property Insurance

Alabama § 27-14-4

Title 27Insurance

Ch. 14The Insurance Contract

This text of Alabama § 27-14-4 (Insurable Interest - Property Insurance) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 27-14-4 (2026).

Text

(a)No contract of insurance of property or of any interest in property, or arising from property, shall be enforceable as to the insurance except for the benefit of persons having an insurable interest in the things insured as at the time of the loss.

(b)“Insurable interest,” as used in this section, means any actual, lawful and substantial economic interest in the safety or preservation of the subject of the insurance free from loss, destruction, or pecuniary damage or impairment.

(c)The measure of an insurable interest in property is the extent to which the insured might be damnified by loss, injury, or impairment thereof.

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(a) No contract of insurance of property or of any interest in property, or arising from property, shall be enforceable as to the insurance except for the benefit of persons having an insurable interest in the things insured as at the time of the loss.
(b) “Insurable interest,” as used in this section, means any actual, lawful and substantial economic interest in the safety or preservation of the subject of the insurance free from loss, destruction, or pecuniary damage or impairment.
(c) The measure of an insurable interest in property is the extent to which the insured might be damnified by loss, injury, or impairment thereof.