Wisconsin Statutes

Wis. Stat. § 411.218 (2026)

Insurance and proceeds

✓ current as of July 2026

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411.218411.218 Insurance and proceeds.

411.218(1)(1) A lessee obtains an insurable interest when existing goods are identified to the lease contract even though the goods identified are nonconforming and the lessee has an option to reject them.

411.218(2)(2) If a lessee has an insurable interest only by reason of the lessor’s identification of the goods, the lessor, until default or insolvency or notification to the lessee that identification is final, may substitute other goods for those identified.

411.218(3)(3) Notwithstanding a lessee’s insurable interest under subs. (1) and (2), the lessor retains an insurable interest until an option to buy has been exercised by the lessee and risk of loss has passed to the lessee.

411.218(4)(4) Nothing in this section impairs an insurable interest recognized under any other statute or rule of law.

411.218(5)(5) The parties, by agreement, may determine that one or more parties have an obligation to obtain and, pay for insurance covering the goods and, by agreement, may determine the beneficiary of the proceeds of the insurance.

411.218 HistoryHistory: 1991 a. 148.

Notes of Decisions

Cited in 1 case (1 in the last 5 years), 2026–2026 · leading case: Koble Investments v. Elicia Marquardt, 2026 WI 19 (Wis. 2026).

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Koble Investments v. Elicia Marquardt, 2026 WI 19 (Wis. 2026). · cites it 3× “§ 411.218(5), permitting the parties to “determine that one or more parties have an obligation to obtain and, pay for insurance covering the goods .”

— Wis. Stat. § 411.218(5) — 1 case

Koble Investments v. Elicia Marquardt, 2026 WI 19 (Wis. 2026). “§ 411.218(5), permitting the parties to “determine that one or more parties have an obligation to obtain and, pay for insurance covering the goods .”

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