Alaska Statutes
Alaska Stat. § 21.42.030 (2026)
Insurable interest: property
✓ current as of July 2026
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Sec. 21.42.030. Insurable interest: property.
(a) A contract of insurance of property or of an interest in property or arising from property may not be enforced as to the insurance except for the benefit of persons having an insurable interest in the things insured at the time of the loss.
(b) The measure of an insurable interest in property is the extent to which the insured might be indemnified by loss, injury, or impairment.
(c) In this section, “insurable interest” means an actual, lawful, and substantial economic interest in the safety or preservation of the subject of the insurance free from loss, destruction, or pecuniary damage or impairment.
(a) A contract of insurance of property or of an interest in property or arising from property may not be enforced as to the insurance except for the benefit of persons having an insurable interest in the things insured at the time of the loss.
(b) The measure of an insurable interest in property is the extent to which the insured might be indemnified by loss, injury, or impairment.
(c) In this section, “insurable interest” means an actual, lawful, and substantial economic interest in the safety or preservation of the subject of the insurance free from loss, destruction, or pecuniary damage or impairment.
Notes of Decisions
Cited in 3
cases, 1999–2012 · leading case: State Farm Auto. Ins. Co. v. Raymer, 977 P.2d 706 (Alaska 1999).
State Farm Auto. Ins. Co. v. Raymer, 977 P.2d 706 (Alaska 1999). “This interest was sufficient for us to conclude that Tammy had an insurable interest satisfying AS 21.42.030. Concluding that Tammy had an insurable interest in Michael’s truck, albeit an equitable and contingent interest, does not conflict with the public policies behind the…”
Green v. Allstate Ins., 885 F. Supp. 2d 959 (D. Alaska 2012). “” 23 Green argues that AS 21.42.030 renders him a third-party beneficiary of the loss payable provision in his contract.”
B a Props., Inc. v. Aetna Cas. & Sur. Co., 273 F. Supp. 2d 673 (D.V.I. 2003). “Code § 27-14-4; Alaska Stat. § 21.42.030 ; Ark.Code Ann. § 23-79-104; Del.”
— Alaska Stat. § 21.42.030(a) — 1 case
Green v. Allstate Ins., 885 F. Supp. 2d 959 (D. Alaska 2012). “” 23 Green argues that AS 21.42.030 renders him a third-party beneficiary of the loss payable provision in his contract.”
— Alaska Stat. § 21.42.030(c) — 1 case
State Farm Auto. Ins. Co. v. Raymer, 977 P.2d 706 (Alaska 1999). “This interest was sufficient for us to conclude that Tammy had an insurable interest satisfying AS 21.42.030. Concluding that Tammy had an insurable interest in Michael’s truck, albeit an equitable and contingent interest, does not conflict with the public policies behind the…”
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