Prince v. Granite State Fire Insurance

“Insurance is a contract of indemnity, appertaining to the person or party to the contract, and not to the thing which is subjected to the risk against which its owner is protected. Cummings v. Insurance Co., 55 N. H. 457. The contract of insurance being indemnity against loss, it is essential to its existence that the party insured should have some interest in the thing insured.” Lahiff v. Insurance Co., 60 N. H. 75.

If the party named in the insurance policies had no interest in the property, the defendants are not hable to him. The issue as to his interest depends upon the effect of…