Town, cities, and municipalities may have new or updated ordinances in place such as weatherproofing codes, fire safety codes, or new plumbing and wiring codes that came into effect after your home was constructed. What does this have to do with your insurance? If you have a covered loss to your home these “new” codes may need to be met during the reconstruction and/or repairs being made to your home. Complying with these requirements can result in thousands of dollars of additional charges. Normally, this would be an expense for the homeowner(s).
Your homeowner’s insurance provider typically has a special endorsement to offer coverage for these additional expenses called Ordinance or Law Coverage. Normally, this coverage starts at a $10,000 limit, but can be increased to meet your specific needs.
Considering how expensive some of these mandatory upgrades can be, we find this to be an exposure which should be discussed.
Let us prepare today, so we can be ready for an unexpected tomorrow.
You can experience the benefits of being a part of a full service Independent Insurance Agency today! Simply contact Briggs Agency, Inc. if you are interested in an Insurance review at 219-769-4840 or visit our website at www.BriggsAgency.com. We look forward to hearing from you!