Endorsement to a property policy, including homeowners, that pays for the extra expense of rebuilding to comply with ordinances or laws, often building codes, that did not exist when the building was originally built. For example, a building severely damaged in a hurricane may have to be elevated above the flood line when it is rebuilt. This endorsement would cover part of the additional cost.
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About this Entry
This page contains a single entry by David published on July 12, 2005 11:56 PM.
OPTIONS was the previous entry in this blog.
ORDINARY LIFE INSURANCE is the next entry in this blog.
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