Quote:
Originally Posted by clf
Surely they do have an interest, their own. But without an agreed value policy (which would involve your own policy and insurance company), they would stop paying out over the market value.
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'interest' is different to 'insurable interest'.
I'm interested in lots of things. Some will be insurable interests (my house, car - or practically everything I own). Some are merely hobbies - e.g. watching sport on the telly.
When I say the third party insurer has an interest: what I meant was, to be more specific, a 'financial interest' i.e. they have an interest in how much it's going to cost them! (perhaps that should have been made clearer, for the especially pedantic).