No insurance company shall knowingly issue any fire insurance policy upon property within this state for an amount which, together with any existing insurance thereon, exceeds a fair value of the property, nor for a longer term than five (5) years. When buildings and structures are insured against loss by fire and, situated within this state, are totally destroyed by fire, the company shall not be permitted to deny that the buildings or structures insured were worth at the time of the issuance of the policy the full value upon which the insurance is calculated, and the measure of damages shall be the amount for which the buildings and structures were insured. No insurance company or agent thereof shall be permitted to attach a three-quarter value clause to insurance of this kind, and any fire insurance company or agent thereof who violates this section shall be guilty of a misdemeanor and shall, upon conviction, be fined not less than Two Hundred Dollars ($200.00) nor more than One Thousand Dollars ($1,000.00) for each offense.
Miss. Code Ann. § 83-13-5
Amount of insurance
Applied in 4 court decisions — leading case 492 So. 2d 919 - Mississippi Farm Bureau Mut. Ins. Co. v. Todd (1986)
Most recently applied in 644 So. 2d 253 - Necaise v. USAA Cas. Co. (October 1994)
Codes, 1892, § 2337; 1906, § 2592; Hemingway’s 1917, § 5056; 1930, § 5183; 1942, § 5693; Laws, 1912, ch. 224; Laws, 1936, ch. 206.
How often courts cite this section
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
Current official text: Mississippi Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Mississippi statutes; confirm against the official source for the current text. Not legal advice.