Section 21.60.020. Replacement insurance.

Latest version.

By a contract of insurance of property or of any insurable interest in the property, the insurer may in connection with a special provision or endorsement made a part of the policy insure the cost of repair or replacement of the property, if damaged or destroyed by a hazard insured against, and without deduction of depreciation, subject to reasonable regulations that may be adopted by the director.

Authorities

21.60.010

Notes

References

AS 21.60.010 Over-insurance prohibited.

History

(Sec. 1 ch 120 SLA 1966)

                    
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