Massachusetts General Laws
Mass. Gen. Laws ch. 175, § 95 (2026)
Fire insurance policy of amount exceeding fair value of property or for term of longer than seven years prohibited
✓ current as of July 2026
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Section 95. No company, and no officer or agent thereof, and no insurance broker shall knowingly issue, negotiate, continue or renew or cause or permit to be issued, negotiated, continued or renewed any fire insurance policy upon property or interests within the commonwealth of an amount which, with any existing insurance thereon, exceeds the fair value of the property, nor for a longer term than seven years.
Notes of Decisions
Cited in 2
cases, 1961–1996 · leading case: Agoos Leather Companies, Inc. v. Am. & Foreign Ins., 174 N.E.2d 652 (Mass. 1961).
Agoos Leather Companies, Inc. v. Am. & Foreign Ins., 174 N.E.2d 652 (Mass. 1961). “478, § 1; see also G. L. c. 175, §§ 95, 96) and give coverage “to the extent of the actual cash value of the property at the time of loss.”
Ins. Co. of North Am. v. Prot. Mut. Ins., 939 F. Supp. 79 (D. Mass. 1996). “It is to be noted that the suspension or modification of filing requirements does not suspend any of the other provisions of the rate regulatoiy laws or of M.G.L. c. 175, §§ 95 through 99, 102A and other applicable sections of M.”
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