Most insurance policies are written to allow a building owner to rebuild to the condition it was in prior to a loss; this type of coverage is referred to as replacement cost.
If an ordinance requires more—such as being brought up to code if it sustains more than 50 percent damage to the entire structure—an owner could face significant out-of-pocket expenses, which may range from slight modifications (installing hard-wired smoke detectors) to vastly more complicated and expensive modifications (installing fire sprinklers). To combat the cost of these projects, building owners can purchase ordinance and law insurance, which protects an owner or association against losses resulting from the enforcement of new laws, ordinances or changes to existing laws.
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Racine Office 1300 S. Green Bay Road Racine, WI 53406. Phone: (262) 636-1860, Fax : 262-636-1866, Email: firstname.lastname@example.org
Kenosha Office 3917 47th Avenue Kenosha, WI 53144. Phone: (262) 657-3193, Fax : (262) 657-0702, Email: email@example.com
Sister Bay Office 10589 S. Highland Rd Suite #2 Sister Bay, WI 54234. Phone: (920) 854-2387, Fax: (920) 854-5136, Email: firstname.lastname@example.org
Milwaukee Office 2651 North Downer Ave Ste 10 Milwaukee, WI 53211. Phone: 262.636.1860, Fax: 262.636.1866, Email: email@example.com