What does Interest mean? Read on to discover the definition & meaning of the term Interest - to help you better understand the language used in insurance policies.
Interest can refer to the fee that a borrower must pay to a lender in exchange for lending money. It can also refer to a party's stake in an insurance contract. In other words, a party's interest can be the assets that it stands to lose if the policy fails to cover its damage or destruction.
We hope the you have a better understanding of the meaning of Interest.