These series of posts are based on the questions consumers most frequently ask, explains what is covered in a standard homeowners policy and what is not. Where gaps in coverage exist, it tells you how to fill them.
To simplify explanations, we assume that you have a policy known as Homeowners-3 (HO-3), the most common homeowner’s policy in the United States. Find out what type of homeowners policy you have. If you have a different policy, you should review your options in question #17.
Question # 15: My house is close to the ocean. I’ve heard that if it is destroyed by the wind, the town’s new building code requires me to rebuild the house on stilts. This will add $30,000 to the cost of rebuilding my house. Am I covered for this extra cost?
Answer: No. The HO-3 excludes costs caused by ordinances or laws that regulate the construction of buildings. You can purchase an Ordinance or Law endorsement. This will cover the extra costs involved in meeting new building codes.
Okay, our next post of common questions asked will be Question # 16: Am I covered for “Acts of God”?
A current concern if you have enough protection for your home – call us.
EMERGE INSURANCE AGENCY