It shall be unlawful for any party having an insurable interest in property located in this state to knowingly procure any fire insurance policy upon his interest in such property, for an amount in excess of the fair value of his interest in the property, or for an amount which, with any existing insurance thereon, exceeds the fair value of his interest in the property.
Neb. Rev. Stat. § 44-602
Over-insurance; procurement unlawful
Applied in 2 court decisions — leading case Daman v. New York Life Insurance (1976)
Most recently applied in Callahan v. Brant (May 2023)
Laws 1913, c. 154, § 110, p. 454; R.S.1913, § 3247; Laws 1919, c. 190, tit
Official source: Nebraska Legislature. Reproduced from public-domain Nebraska statutes; confirm against the official source for the current text. Not legal advice.