Every railroad company is hereby invested with an insurable interest in the property upon the route operated by it, and may procure insurance thereupon in its own behalf for protection against any damage to such property by fire or otherwise, for which such company shall or might be liable.
Va. Code Ann. § 56-352
Railroad to have an insurable interest in property along its route
Code 1919, § 4018.
Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.