What are the principles of nonmarine insurance?

Nonmarine insurance primarily covers risks associated with property and liability outside of marine activities. Key principles include indemnity, which ensures the insured is compensated for losses without profit; insurable interest, requiring the insured to have a legitimate stake in the insured property; and utmost good faith, mandating transparency and honesty in disclosures during the policy agreement. Additionally, the principle of contribution may apply, where multiple policies cover the same risk, ensuring no over-compensation occurs.