Mr. Sanjeev took an insurance policy against his car and after three months, he sold it to Ms. Chopra. the car was stolen from outside of Ms. Copra's house. Mr. Sanjeev made a claim to the insurance company. His claim was rejected on the grounds of him not being the owner of the car and him having no insurable interest as well as financial loss. Was Mr. Sanjeev right in making the claim? Who should get the compensation? What does principle of insurable interest say?
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No,Mr. Sanjeev have no right in making the claim. Ms. Chopra should get compensation. The principle of insurable interest says that the insured must have insurable interest in the subject matter of insurance.
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