Insurable Interest — Automatic Relationships

Automatically presumed: yourself (unlimited), spouses, parents ↔ children, child in a grandparent, a business in its officers/directors/key employees, business partners in each other, and a creditor in a debtor — limited to the debt plus interest. Sentimental attachment counts only where the parties are closely related by blood or by law — Florida grants insurable interest in a close relative based on "a substantial interest engendered by love and affection" (F.S. 627.404(2)(b)1). Between strangers, affection alone is never enough; there must be a lawful and substantial economic interest.