What is the ruling on insuring money and equipment?
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Question:
This questioner says: What is the ruling on insuring money and equipment?
Answer:
Commercial insurance in all its forms is invalid and forbidden because it contains riba (usury or interest), because it contains gambling, because it contains gharar (excessive uncertainty in a contract) and ignorance, and because it involves consuming people's wealth unjustly. It has many dangers, and insurance is not permissible in any of its forms if the intention is investment and trade. Yes.
This questioner says: What is the ruling on insuring money and equipment?
Answer:
Commercial insurance in all its forms is invalid and forbidden because it contains riba (usury or interest), because it contains gambling, because it contains gharar (excessive uncertainty in a contract) and ignorance, and because it involves consuming people's wealth unjustly. It has many dangers, and insurance is not permissible in any of its forms if the intention is investment and trade. Yes.
Source
قناة «العلامة الدكتور صالح الفوزان»، ما حكم التأمين على المال والآلات؟ #فتاوى الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.