Stop! Don’t Take The Car Insurance Claim!

An insurance policy qualifies as micro-Insurance policy if the benefits don't exceed.

Mr. Rajiv took an Insurance Policy against his car and after three months he soid it to Mr. Kallash. The car was stolen from outside of Mr. Kailash's house . Mr. Rajiv made a claim to Insurance company . His calaim wa rejected on the ground that Mr. Rajiv was no longer owner of the car, so he has no insurable Interset and he has no financial loss of the car. (a) What does 'Principle of Insurable Interest state' ? (b) Was Mr. Rajiv right in making claim ? (c) Who should get the compensation ?

"The insured must take care of his goods and other, for which insurance is being taken as he was taking insurance policy. "To which principle of insurance is the related ?