Mills Shipping Company has a contract to use one of its cargo ships to transport a manufacturer's products from the Port of Savannah to Europe. After it delivers the goods to Europe, Mills plans to find a European company that wants its goods shipped back to the United States for the return trip. Before it leaves the United States, Mills would like to purchase property insurance that would cover any damage to the cargo on its ship that might occur while Mills is transporting it to and from Europe. Which of the following statements is (are) true? (Check all that apply.) Mills cannot collect for any damage to the cargo unless and until it shows that it has an insurable interest in the property at the time of the loss. Mills has an insurable interest in the cargo it is transporting even though it does not own the cargo. Mills cannot purchase the insurance for the trip from the U.S. to Europe unless and until it shows that it has an insurable interest in the cargo. Mills cannot purchase the insurance for the trip from Europe to the U.S. unless and until it shows that it has an insurable interest in the cargo. Previous Page Next Page Page 1 of 25