What is a primary benefit of the Ordinance endorsement?

The Ordinance endorsement provides valuable coverage that ensures a property is brought up to current building codes following a loss. When a property suffers damage, not only is there a need to repair or replace what is damaged, but there may also be building codes and ordinances that have changed since the property was originally built. The Ordinance endorsement addresses these situations by covering the costs associated with updating the property to meet current standards, which can include expenses related to permits, inspections, and the necessary upgrades that would bring the building into compliance.

This coverage is crucial because after a loss, a policyholder might discover that the cost to rebuild their property also includes the added expenses of adhering to new codes, which are not typically covered under standard property insurance policies. Thus, the endorsement provides peace of mind that the costs resulting from building code requirements will be met, ensuring that the property can be restored not only to its former state but also up to current safety and legal standards.