Idaho Code

Idaho Code § 41-1806 (2026)

Insurable interest — Property.

✓ current as of May 2026

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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 directly damnified by loss, injury, or impairment thereof.

Notes of Decisions

Cited in 6 cases, 1963–2003 · leading case: Keller Lorenz Co. v. Ins. Assocs. Corp., 570 P.2d 1366 (Idaho 1977).

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Keller Lorenz Co. v. Ins. Assocs. Corp., 570 P.2d 1366 (Idaho 1977). · cites it 6× “The question, as we see it, is whether Keller Lorenz had an insurable interest in the vehicle under I.C. § 41-1806. This section provides the following: “41-1806.”

Rhead v. Hartford Ins. Co. of the Midwest, 19 P.3d 760 (Idaho 2001). · cites it 8× “Idaho Code § 41-1806 (1). The doctrine of insurable interest is governed by I.”

Boston Ins. Co. v. Beckett, 419 P.2d 475 (Idaho 1966). · cites it 8× “Johnson, to the use of the cabin, Boyd Beckett did not have an insurable interest under the now applicable statutory definition found in I.C. § 41-1806 (2). 1 A valid insurable interest did exist *222 with regard to the personal property on the premises.”

Holscher v. James, 860 P.2d 646 (Idaho 1993). · cites it 6× “State Farm challenges the district court’s conclusion that it was liable to the Jameses under the insurance binder, contending that the Jameses lacked an insurable interest in the cabin at the time of the loss, and I.C. § 41-1806 prohibits any person from enforcing a contract of…”

B a Props., Inc. v. Aetna Cas. & Sur. Co., 273 F. Supp. 2d 673 (D.V.I. 2003). “§ 33-24-4; Idaho Code § 41-1806 ; Ky.Rev.Stat. Ann. § 304.”

Coburn v. Fireman's Fund Ins. Co., 387 P.2d 598 (Idaho 1963). · cites it 2× “Appellant nevertheless argues that the 1961 enactment, I.C. § 41-1806(3), is but a declaration of the then existing law to the effect as provided in the enactment, citing Miller v.”

— Idaho Code § 41-1806(2) — 1 case

Boston Ins. Co. v. Beckett, 419 P.2d 475 (Idaho 1966). “Johnson, to the use of the cabin, Boyd Beckett did not have an insurable interest under the now applicable statutory definition found in I.C. § 41-1806 (2). 1 A valid insurable interest did exist *222 with regard to the personal property on the premises.”

— Idaho Code § 41-1806(3) — 1 case

Coburn v. Fireman's Fund Ins. Co., 387 P.2d 598 (Idaho 1963). “Appellant nevertheless argues that the 1961 enactment, I.C. § 41-1806(3), is but a declaration of the then existing law to the effect as provided in the enactment, citing Miller v.”

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