Nebraska § 44-601 Over-insurance; policies for more than five years prohibited

Nebraska Statutes

§ 44-601 — Over-insurance; policies for more than five years prohibited

Nebraska § 44-601

Ch. 44Insurance

This text of Nebraska § 44-601 (Over-insurance; policies for more than five years prohibited) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 44-601 (2026).

Text

It shall be unlawful for any insurance company or any agent to knowingly issue any fire insurance policy upon property within this state for an amount which, with any existing insurance, exceeds the fair value of the property or of the interest of the insured therein, or for a longer time than for five years, except as provided in section  44-812 .

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Legislative History

Source: Laws 1913, c. 154, § 109, p. 454; R.S.1913, § 3246; Laws 1919, c. 190, tit. V, art. VIII, § 1, p. 634; C.S.1922, § 7845; C.S.1929, § 44-701; R.S.1943, § 44-601. Annotations: Where fire insurance policies issued by different insurers contain prohibitions against other insurance and prorating clauses, but no escape clauses, any loss is to be prorated. Kent v. Insurance Co. of North America, 189 Neb. 769, 205 N.W.2d 532 (1973). Where fire insurance policy contained condition that total insurance on the property should not exceed a sum named, and at the time, unknown to insurer, there existed other valid insurance in an amount greater than the sum so named, the latter policy does not take effect. Quisenberry v. National Fire Ins. Co., 132 Neb. 793, 273 N.W. 197 (1937).