Insurable Interest

This can be when the death of the insured is harmful or detrimental to the person taking out the life insurance.

For property and casualty insurance, the insurance interest is a requirement. If you do not have insurable interest in the item, such as ownership of the vehicle, you do not have valid insurance. Another example is for homeowners, the insurable interest is all the names on the title including mortgage holders.

Your vehicle should be insured and registered in the same name.