Washington § 48.27.010 - Over-insurance prohibited.

Full text of Washington Revised Code of Washington § 48.27.010 — Over-insurance prohibited., with citation guidance and answers to common questions.

§ 48.27.010. Over-insurance prohibited.

(1) Over-insurance shall be deemed to exist if property or an insurable interest therein is insured by one or more insurance contracts against the same hazard in any amount in excess of the fair value of the property or of such interest, as determined as of the effective date of the insurance or of any renewal thereof, or in those instances when insured value is for improvements and land.
(2) For the purposes of this section only the term "fair value" means the cost of replacement less such depreciation as is properly applicable to the subject insured.
(3) No person shall knowingly require, request, issue, place, procure, or accept any insurance contract which would result in over-insurance of the property or interest therein proposed to be insured, except as is provided in RCW 48.27.020.
(4) No person shall compel an insured or applicant for insurance to procure property insurance in an amount in excess of the amount which could reasonably be expected to be paid under the policy (or combination of policies) in the event of a loss, whether such insurance is required in connection with a loan or otherwise.
(5) Each violation of this section shall subject the violator to the penalties provided by this code.
[ 1984 c 6 s 1; 1947 c 79 s .27.01; Rem. Supp. 1947 s 45.27.01.]

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Frequently Asked Questions About Washington § 48.27.010

What does Revised Code of Washington § 48.27.010 cover?

Section 48.27.010 ("Over-insurance prohibited.") is part of the Revised Code of Washington, the codified statutory law of Washington. 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 Washington § 48.27.010?

A common citation format is "Revised Code of Washington § 48.27.010" (Washington). 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 Washington law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Washington official source linked on this page or consult a licensed Washington attorney.

How does Washington § 48.27.010 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Washington 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 Washington.