Don’t Get Stuck Footing the Bill to Meet Ordinance and Law Regulations – Burkhart Insurance

Don’t Get Stuck Footing the Bill to Meet Ordinance and Law Regulations

Don’t Get Stuck Footing the Bill to Meet Ordinance and Law Regulations
August 1, 2015 mcdmarketing

Don’t Get Stuck Footing the Bill to Meet Ordinance and Law Regulations

One of the greatest reasons to live in our community is that we are surrounded by rich history.  Did you know that Vincennes is the oldest city in Indiana? You don’t have to look far to find an event, museum, or monument dedicated to showcasing our well-documented past. As you wander through Vincennes, you can find both homes and businesses dating back to the late 1700’s.

One thing we may NOT stop to consider is how these amazing buildings are covered in the event of a loss. When these structures were first built there were no laws governing safety rules and regulations. While many of these historic buildings have made changes to keep up with safety regulations certain adjustments have been overlooked. For instance, The Americans with Disabilities Act was not made law until 1990; as much as 200 years after some of these buildings were erected. One part of this law states that doorways must be wide enough to accommodate a wheelchair. While it is not the law to change an existing structure, if a historic building is damaged and being rebuilt it MUST accommodate this law.

What does this mean for the owners of such buildings?

An insurance policy is a contract between you and your insurance company which states that in the event of a loss your insurance will cover the cost of what was damaged or destroyed. This does NOT include making improvements! A standard policy will only cover the cost or repair or rebuild as is.

Luckily an endorsement exists to help protect you against such hardships. It is known as Ordinance and Law. This endorsement covers a variety of events that your basic policy would not. For example, if you have a home built before 1930, you may have knob and tube wiring. These days, wiring has become more sophisticated. Building codes state that if you are completing any updates or repairs, knob and tube wiring is unacceptable. Another time ordinance and law would come into play is with homes built near a body of water. Due to the risk of flood, homes built next to a body of water must be a certain height above water level.

A basic homeowner’s policy will not cover the additional costs necessary to make such changes; it is only intended to restore to you what was lost.

Who pays for additional cost created as a result of ordinance and law?

YOU pay the additional cost – unless you are insured with Burkhart Insurance Agency. Our highly educated staff is trained to know when coverage endorsements, like Ordinance and Law, are needed and will help create a policy to protect you from any additional expense. Call us at 812-882-3600 or stop by our offices for your quote today!