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November 05, 2024 Clouds | 50°F
The 193rd General Court of the Commonwealth of Massachusetts
  1. General Laws
  2. Part I ADMINISTRATION OF THE GOVERNMENT
  3. Title XXII CORPORATIONS
  4. Chapter 175 INSURANCE
  5. Section 95A Requirement of fire insurance policy exceeding amount of outstanding mortgage prohibited

Section 95A

Section 95A: Requirement of fire insurance policy exceeding amount of outstanding mortgage prohibited

Section 95A. No company, and no officer or agent thereof, and no insurance broker shall require an owner of residential property occupied by the insured to continue or renew a fire insurance policy on said property which exceeds the amount of the outstanding mortgage thereon.