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Fla. Stat. § 627.405 (2025)

Insurable interest; property.

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627.405 Insurable interest; property.—
(1) No contract of insurance of property or of any interest in property or arising from property shall be enforceable as to the insurance except for the benefit of persons having an insurable interest in the things insured as at the time of the loss.
(2) “Insurable interest” as used in this section means any 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.
(3) The measure of an insurable interest in property is the extent to which the insured might be damnified by loss, injury, or impairment thereof.
History.—s. 454, ch. 59-205; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 377, 809(2nd), ch. 82-243; s. 79, ch. 82-386; s. 114, ch. 92-318.
Notes of Decisions
Cited in 47 cases (10 in the last 5 years), 1972–2025 · leading case: Bioscience West, Inc. v. Gulfstream Prop. & Cas. Ins. Co., 185 So. 3d 638 (Fla. 2d DCA 2016).
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Bioscience West, Inc. v. Gulfstream Prop. & Cas. Ins. Co., 185 So. 3d 638 (Fla. 2d DCA 2016). · cites it 5× “Gulfstream further contends that the assignment of benefits to Bioscience violates section 627.405, Florida Statutes (2012), because Bioscience, an assign-ee, does not have an “insurable interest” in “the things at the time of the loss.”
Accident Cleaners, Inc. v. Universal Ins. Co., 186 So. 3d 1 (Fla. 5th DCA 2015). · cites it 9× “Appellant argues that the trial court incorrectly held that section 627.405, Florida Statutes (2013), required Appellant to have an insurable interest in the homeowner’s home at the time of loss.”
Conyers v. Balboa Ins., 935 F. Supp. 2d 1312 (M.D. Fla. 2013). · cites it 6× “Fla. Stat. § 627.405 (emphasis added). In Florida, an insurable interest is not determined by the concept of title, *1316 but rather whether the insured has a substantial economic interest in the property.”
One Call Prop. Servs., Inc. a/a/o William Hughes v. Sec. First Ins. Co., 165 So. 3d 749 (Fla. 4th DCA 2015). · cites it 2× “The court explained that the legislature, in enacting section 627.405, Florida Statutes, "did not state that it was displacing well-settled common law of (1) the free assignability of contractual rights to recover or (2) the inability for insurers to restrict post-loss…”
Kelly v. Balboa Ins., 897 F. Supp. 2d 1262 (M.D. Fla. 2012). · cites it 4× “Fla. Stat. § 627.405 . The insurable interest is determined at the time of loss.”
Overton v. Progressive Ins. Co., 585 So. 2d 445 (Fla. 4th DCA 1991). · cites it 4× “Section 627.405(2), Florida Statutes (1982).”
Travelers Indem. v. Duffy's Little Tavern, 478 So. 2d 1095 (Fla. 5th DCA 1985). · cites it 4× “§ 627.405(1), Fla. Stat. (1983). The measure of an insurable interest in the property is the extent to which the insured might be damnified by the loss, injury, or impairment thereof.”
Aetna Ins. Co. v. King, 265 So. 2d 716 (Fla. 1st DCA 1972). · cites it 4× “[6] F.S. § 627.405(2), F.S.A. [7] F.S. § 627.”
Title & Trust Co. of Florida v. Parker, 468 So. 2d 520 (Fla. 1st DCA 1985). · cites it 2× “[3] Alternatively, the same result can be reached on the theory that the Parkers' interest in receiving a usurious rate of interest from their loan transaction, which would subject them to a felony prosecution if consummated in Florida, is not an "insurable interest" within the…”
Life Ins. Co. of Georgia v. Lopez, 443 So. 2d 947 (Fla. 1983). · cites it 2× “Section 627.405, Florida Statutes (1979), by its terms only applies to property insurance but provides a definition of the concept of insurable interest: (1) No contract of insurance of property or of any interest in property or arising from property shall be enforceable as to…”
Sun State Roofing Co., Inc. v. Cotton States Mut. Ins. Co., 400 So. 2d 842 (Fla. 2d DCA 1981). · cites it 2× “Section 627.405(2), Florida Statutes (1979), defines insurable interest as: [A]ny actual, lawful, and substantial economic interest in the safety or preservation of the subject of insurance free from loss, destruction, or pecuniary damage or impairment.”
Dyson & Co. v. Flood Eng., Arch., Plan., 523 So. 2d 756 (Fla. 1st DCA 1988). · cites it 3× “Section 627.405(2), Florida Statutes (1985), states: "Insurable interest" as used in this section means any 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…”
Show all 47 citing cases →
627.405(1): 6 cases
Bioscience West, Inc. v. Gulfstream Prop. & Cas. Ins. Co., 185 So. 3d 638 (Fla. 2d DCA 2016). “Gulfstream further contends that the assignment of benefits to Bioscience violates section 627.405, Florida Statutes (2012), because Bioscience, an assign-ee, does not have an “insurable interest” in “the things at the time of the loss.”
Travelers Indem. v. Duffy's Little Tavern, 478 So. 2d 1095 (Fla. 5th DCA 1985). “§ 627.405(1), Fla. Stat. (1983). The measure of an insurable interest in the property is the extent to which the insured might be damnified by the loss, injury, or impairment thereof.”
Corat Int'l, Inc. v. Taylor, 462 So. 2d 1186 (Fla. 3d DCA 1985).
Aetna Cas. & Sur. Co. v. Growers Props., No. 58 Ltd., 542 So. 2d 1028 (Fla. 2d DCA 1989).
Morgan v. Am. SEC. Ins. Co., 522 So. 2d 454 (Fla. 1st DCA 1988).
627.405(2): 7 cases
Title & Trust Co. of Florida v. Parker, 468 So. 2d 520 (Fla. 1st DCA 1985). “[3] Alternatively, the same result can be reached on the theory that the Parkers' interest in receiving a usurious rate of interest from their loan transaction, which would subject them to a felony prosecution if consummated in Florida, is not an "insurable interest" within the…”
Sun State Roofing Co., Inc. v. Cotton States Mut. Ins. Co., 400 So. 2d 842 (Fla. 2d DCA 1981). “Section 627.405(2), Florida Statutes (1979), defines insurable interest as: [A]ny actual, lawful, and substantial economic interest in the safety or preservation of the subject of insurance free from loss, destruction, or pecuniary damage or impairment.”
Overton v. Progressive Ins. Co., 585 So. 2d 445 (Fla. 4th DCA 1991). “Section 627.405(2), Florida Statutes (1982).”
Dyson & Co. v. Flood Eng., Arch., Plan., 523 So. 2d 756 (Fla. 1st DCA 1988). “Section 627.405(2), Florida Statutes (1985), states: "Insurable interest" as used in this section means any 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…”
Aetna Ins. Co. v. King, 265 So. 2d 716 (Fla. 1st DCA 1972). “[6] F.S. § 627.405(2), F.S.A. [7] F.S. § 627.”
627.405(2)(3): 1 case
BankAmerica Hous. Servs. v. Allstate Ins., 771 So. 2d 1218 (Fla. 2d DCA 2000).
627.405(3): 3 cases
Overton v. Progressive Ins. Co., 585 So. 2d 445 (Fla. 4th DCA 1991). “Section 627.405(2), Florida Statutes (1982).”
Travelers Indem. v. Duffy's Little Tavern, 478 So. 2d 1095 (Fla. 5th DCA 1985). “§ 627.405(1), Fla. Stat. (1983). The measure of an insurable interest in the property is the extent to which the insured might be damnified by the loss, injury, or impairment thereof.”
Aetna Ins. Co. v. King, 265 So. 2d 716 (Fla. 1st DCA 1972). “[6] F.S. § 627.405(2), F.S.A. [7] F.S. § 627.”
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