Posts Tagged ‘building ordinance’
Insuring New Jersey Coastal Properties
Q: How does an investment property get valued for insurance? The best coverage will require that a building be valued at the reconstruction cost, which often is more than the cost to purchase, particularly if a building is distressed. This will allow you to have replacement cost coverage. Conversely, many policies will allow you to…
Read MoreBuilding Ordinance or Law Coverage
Most home insurance policies include coverage for “building ordinance or law,” a somewhat esoteric and misunderstood coverage that can be essential to putting your home back together after a claim. The average home insurance policy includes 10% of the dwelling amount on a policy at the time of a claim this means that if you…
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