A more thorough explanation:

Definition: As their interests may appear. This phrase is often used in insurance policies to indicate that the named insured has an interest, usually an unspecified one, in the property covered by the policy and is entitled to benefits to the extent of that interest. It is also used in a policy's mortgage clause to protect the mortgagee's real-property interest.

Examples:

• John and Jane are listed as the named insured on their homeowner's insurance policy. The policy includes the phrase "as their interests may appear," which means that they have an interest in the property covered by the policy, even if it is not specifically stated in the policy.
• A bank holds a mortgage on a property and is listed as the mortgagee on the homeowner's insurance policy. The policy includes the phrase "as their interests may appear," which means that the bank's interest in the property is protected in case of damage or loss.

These examples illustrate how the phrase "as their interests may appear" is used in insurance policies to indicate that a person or entity has an interest in the property covered by the policy, even if it is not specifically stated. This ensures that all parties with an interest in the property are protected in case of damage or loss.