Snethen v. Oklahoma State Union of the Farmers Educational & Cooperative Union

OPALA, Justice:

The dispositive issue on certiorari is whether a good-faith purchaser for value of a stolen motor vehicle has an “insurable interest” in the property within the meaning of 36 O.S. 1981 § 3605.1 We answer in the affirmative.

The insurance company [insurer], defendant below, issued an automobile insurance policy to John 0. Snethen [insured], plaintiff below, providing coverage against collision loss for his used 1978 Cadillac automobile. Shortly after the purchase the in*379sured’s car was involved in a collision with another vehicle. Before a claim for this damage came to be settled…