Assignment Of Insurance Policy
Webster insured her residence with Old Home Insurance Company. Assuming the policy contains no provision regarding assignment, which of the following statements is correct?
AIf Webster suffers an insured loss, she may assign the amount due under the policy only to a party furnishing materials or labor for the repair of the residence.
BWebster may assign the policy to any person with the capacity to contract who agrees to pay the premium.
CIf Webster suffers an insured loss, she may assign the amount due under the policy to anyone.
DIf Webster sells her residence, she must assign the policy to the purchaser.