Question

46. If more than one person has an insurable interest in the property covered under a dwelling policy,

(Choose from the following options)
1. All involved insurers must decide which one will be liable for the loss.
2. All insureds must decide which one will be liable for the loss.
3. The insurer will be liable for only the insured's interest in the damaged property.
4. Liability will be split evenly among all people who have insurable interest.

Answer 1

If more than one person has an insurable interest in the property covered under a dwelling policy, the liability for the loss is typically split evenly among all people who have an insurable interest.

Step-by-step explanation:

When more than one person has an insurable interest in the property covered under a dwelling policy, the liability for the loss is typically split evenly among all people who have an insurable interest. This means that each person will be responsible for their share of the loss based on their individual interest in the property.