This page within Virginia Tort Case Law is a compilation of cases reported by the Virginia Supreme Court and summarized by Brien Roche dealing with the topic of Insurance Insurable Interest and the related topic of premises liability. For more information on insurance see the pages on Wikipedia.
See Va. Code § 38.2-303. Insurable interest is any lawful and substantial economic interest in safety or preservation of subject free from loss, destruction or pecuniary damage.
1990 Scottsdale Ins. Co. v. Glick, 240 Va. 283, 397 S.E.2d 105.
An insurable interest in liability policy depends on whether insured may be charged at law or equity with liability against which insurance is taken out. Tenant of first floor has insurable interest in entire premises in this case.
1981 Castle Cars, Inc. v. United States Fire Ins. Co., 221 Va. 773, 273 S.E.2d 793.
Insured has insurable interest when he will be benefitted by continued existence or suffer direct pecuniary injury by loss of property.
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