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Insurable Interest

It is fundamental principle of insurance law that for an insurance policy to be valid, the policy holder must have an Insurable Interest. Basically, this means that the policy holder must be able show that they would suffer some loss from the destruction of the insured item, or gain some benefit from its preservation. In most homeowner policies, this should not be a problem, unless ownership of the property is under some question or dispute. The matter of Insurable Interest often arises in contents insurance claims.

Example: On Friday, Mrc X left his expensive, gold Rolex watch with his close friend Mr. Z so that Mr. Z. Could drop it off at the Rolex store for servicing. Over the weekend, Mr. Z’s home was broken into, and amongst the items stolen was Mr. X’s watch. When Mr. Z filed his insurance claim he included the watch in the claim. However, the Loss Adjuster disallowed the claim for the watch on the basis of a lack of “insurable interest”. As Mr. Z did not own the watch, he did not suffer a loss.

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Certified Claims Management - UK loss assessors helping with property related insurance claims, dealing with insurance company loss adjusters, maximising your payment, minimising settlement time and reducing hassle.

  • Fire damage
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Certified Claims Management are UK based specialist loss assessors in all aspects of insurance claims management and can assist in the preparation and presentation of all domestic and commercial insurance claims resulting from fire, flood, storm, water, burglary, impact damage, subsidence or blocked drains. We work to balance your insurance company's Loss Adjuster's goal of minimising the settlement offer. We are also experienced at exposing and dealing with "Bad Faith Insurance Practices". We work for both the public and businesses. Need advice? Call our team of loss assessors to discuss your insurance claim today on:

020 3000 7898

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