If you've ever looked into purchasing insurance for your home or business, you may have seen something called "Ordinance or Law Coverage" listed on the policy. This coverage can be confusing to those unfamiliar with it, so let's take a closer look at what it is and if you should consider having it.
Ordinance or Law Coverage protects consumers from additional costs in repairs due to changes in building codes and ordinances that have occurred since the property was originally constructed. In other words, if your property was damaged by an event covered under your policy (such as fire damage) and you need to rebuild according to new building codes, this coverage will help cover the costs associated with those repairs.
Whether you need ordinance or law coverage depends on the age of your property. Generally speaking, if your property was built before 1978 then it is likely that building codes and ordinances have changed since then. If this is the case, then adding ordinance or law coverage to your policy can help protect you from unexpected expenses due to non-compliance with current building codes.
However, even if your property was built after 1978, there are still benefits to having ordinance or law coverage. For example, if you decide to remodel part of your home and local building codes have changed since construction, then this coverage can help cover any additional renovation costs associated with bringing the structure up-to-code.
Understanding what ordinance or law coverage is and whether you should have it can be confusing but it doesn't have to be! If you're looking for a public claims adjuster in Central Florida who can answer all of your questions about insurance policies, contact Ultra Property Damage today for expert advice and service! With their expertise and guidance, they'll make sure that you get the most out of your policy so that you are protected in case of an unfortunate accident. Contact them today for more information!