Typically we do not offer Ordinance or Law Valuations unless we have provided a Property Insurance Valuation.

The Ordinance or Law Valuation is typically an endorsement to an existing property insurance policy. Some policies offer a minimal amount of coverage in the basic property policy, other policies offer no coverage.

The purpose of the Ordinance or Law Endorsement Coverage is to carry an adequate amount of coverage needed in order to reconstruct a building according to current local building codes or by local or state government. This may include installation of hurricane protection devices, installation or upgrades to fire alarm systems, installation of fire sprinkler systems, elevator safety upgrades or replacements, and electrical upgrades such as generators.

There are three basic components under the Ordinance or Law Coverage endorsement.

Coverage "A"

Represents the total loss of the building value which has occurred due to a covered direct physical damage loss and is subject to ordinance or law enforcements which require demolition of the building.

Coverage "B"

Represents the cost to demolish and remove the undamaged portions of the structure that has sustained covered direct physical damage, to comply with ordinance or law enforcement in order to reconstruct the building.

Coverage "C"

Represents the increased cost to repair or reconstruct the damaged or undamaged portions of a building that has sustained covered direct physical damage. This will cover the increased cost to reconstruct or remodel portions of the building to bring the physical building components up to current code, law, safety or zoning requirements. This coverage only applies if the restored or remodeled property is intended for similar occupancy as the current property, and will not be paid if the building is not repaired, reconstructed, or remodeled.