Lenert Insurance Group Blog
A Construction Coverage Gap
Most such rules are created on the level of local government and are typically called ordinances. Each area’s ordinances reflect specific concerns, particularly natural hazards that regularly endanger property such as windstorms, earthquakes, floods and.....fire. Your local Illinois insurance agent is here to assist you!
Wildfires are a large problem in
Many homeowners enjoy the benefit of "grand fathering." That refers to any exemption given to a person from having to comply with a new law. However, such exemptions disappear under certain circumstances such as significant remodeling or when a certain percentage of a building is damaged. Therefore, property owners who face the prospect of re-building their homes also face full compliance with current building laws. Without special endorsements, it’s unlikely that their Illinois insurance policies will provide significant Ordinance or Law Coverage. These property owners could be responsible for thousands, perhaps even tens of thousands in uncovered costs.
If you have an older home or live in an area that has special laws for rebuilding, it would be worth your time to consider adding protection against any extra costs caused by local ordinances. Your Illinois insurance professional is the person to know.