Insurance
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32.400 Insurable Interest; Property
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Description
32.400 Insurable Interest; Property No insurance contract on property or of any interest in it or arising from it shall be enforceable except for the benefit of persons having, at the time of the loss, an insurable interest in the things insured. "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 monetary damage or impairment. The measure of an insurable interest in property is the extent to which the insured might be damaged by loss, injury, or impairment of it. O.C.G.A. §33-24-4
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