Alaska § 21.60.010 - Over-insurance prohibited.
Full text of Alaska Alaska Statutes § 21.60.010 — Over-insurance prohibited., with citation guidance and answers to common questions.
§ 21.60.010. Over-insurance prohibited.
(a) Over-insurance shall be considered to exist if property or an insurable interest in property is insured by one or more insurance contracts against the same hazard in an amount in excess of the fair value of the property or of the interest, as determined on the effective date of the insurance or the renewal of it.
(b) A person may not knowingly issue, place, procure, or accept an insurance contract that would result in over-insurance of the property or interest in the property proposed to be insured, except as provided in AS 21.60.020 .
(c) Each violation of this section shall subject the violator to the penalties provided in AS 21.97.020 .
(d) In this section the term “fair value” means the cost of replacement less depreciation that is properly applicable to the subject insured.
Frequently Asked Questions About Alaska § 21.60.010
What does Alaska Statutes § 21.60.010 cover?
Section 21.60.010 ("Over-insurance prohibited.") is part of the Alaska Statutes, the codified statutory law of Alaska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alaska § 21.60.010?
A common citation format is "Alaska Statutes § 21.60.010" (Alaska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 21.60.010 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alaska.