What is building ordinance coverage?
Building ordinance coverage adds additional coverages to the building coverage section on a property policy.
Does my policy include building ordinance coverage?
You would have to examine your specific insurance policy to answer that question. Different insurance companies include different amounts for building ordinance coverage. Some do not include any amount for building ordinance coverage. If you are having trouble figuring out what building ordinance coverages you have on your policy we at DG Insurance would be happy to examine your policy to help you figure it out.
Are there different types of building ordinance coverage?
Yes, there are 3 types of building ordinance coverage. Please see a description of each below.
Building Ordinance Coverage A: In the event that only part of your building is damaged due to a covered loss, building ordinance coverage A covers the loss of value to the undamaged portion of your building.
Building Ordinance Coverage B: This is known as “debris removal,” and would cover the debris removal of the undamaged portion of the building.
Building Ordinance Coverage C: This is known as “code upgrade,” and when a building needs to be rebuilt due to a covered loss, this coverage would provide additional amounts to rebuild the property up to the current building codes. Without this coverage an insured would have to pay out of pocket for the required code upgrades when a property is rebuilt after a covered loss.
Does building ordinance coverage cost more:
Typically there is an additional premium associates with add or increasing your building ordinance coverage.
Can DG Insurance help me acquire building ordinance coverage:
Absolutely. We would be happy to examine your current policy to determine your building ordinance coverage limit and discuss options with you.
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