A mere contingent or expectant interest in anything, not founded on an actual right to the thing, nor upon any valid contract for it, is not insurable.
Cal. Ins. Code § 283
Insurable Interest: Generally
Applied in 1 court decision — leading case 10 Cal. App. 4th 201 - People v. Von Villas (1992)
Most recently applied in 10 Cal. App. 4th 201 - People v. Von Villas (October 1992)
Enacted by Stats. 1935, Ch. 145.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.