To Collect for Damage, the Insured Must Have an Insurable

question 23

Multiple Choice

To collect for damage, the insured must have an insurable interest

• A) at the time the application is filed.
• B) at the time the policy is issued.
• C) at the time the loss occurs.
• D) all of these.

---

Definitions:

Average Income

The total income received by a group divided by the number of people in that group.

Poverty Rate

The percentage of the population whose income falls below a certain threshold, defining them as living in poverty.

Economic Deprivation

A condition where individuals or communities lack the financial resources and essential services to maintain a standard of living considered acceptable in society.

Poverty Rate

The percentage of the population whose income falls below the poverty line, indicating their inability to afford basic needs.