| Loss Recovery and Building Code Changes | | | | Endorsement with this policy. |
| After a natural catastrophe, you've likely sustained | | | | Here are some areas where structural building code |
| large and severe property losses. What often comes | | | | updates are often required: |
| as an "aftershock" to the catastrophe, are the higher | | | | |
| costs to rebuild according to the latest building | | | | 1. Electrical Services and Wiring Updates: Electrical |
| codes...WHICH ARE | | | | service, junction boxes, wiring loads all may have |
| NOT COVERED UNLESS... you purchased an | | | | different requirements now than when your structure |
| Endorsement to your policy called either: | | | | was built. |
| - "Increased Cost of Construction" (with NFIP & | | | | 2. Wiring Material and Wiring Protection. Types of |
| Flood policies) OR | | | | wire, wrapping, shielding and protection may be |
| - "Ordinance or Law" (possibly with your TWIA | | | | affected by updated building codes. |
| policy, and definitely) with your Homeowner policy | | | | 3. Framing Materials. Types of wood (2x4's, 2x6's, |
| Otherwise, your Insurance Company's agreement | | | | etc., found throughout the entire walls and roof |
| with you (found in your policy) is to "... pay the cost | | | | areas, both in the Structure and the Garage-whether |
| to put you back the way you were". This would not | | | | attached or detached). |
| be to put you back as the Building Department | | | | 4. HVAC Equipment. Efficiency, placement and |
| requires your building to be put back (reconstructed). | | | | weather requirements may have changed. |
| It will just be your "tough luck" if you don't have this | | | | 5. Handicap Access |
| Endorsement. And, Heaven forbid that your Structure | | | | 6. Ramps and Doorways. Codes for providing |
| is damaged (according to an estimate to be made by | | | | convenient handicap access have probably been |
| your Building Department) more than 50% of its | | | | updated. |
| "assessed value". Then, you will need to bring the | | | | 7. Kitchen and Bathroom. Fixtures allowing greater |
| entire Structure "up to current code"; and your | | | | conveniences and assistance for handicap in these |
| Insurance Company will not pay you for required | | | | areas may have updates. |
| code change expenses... | | | | 8. Water Systems and Plumbing Updates |
| UNLESS YOU BOUGHT one of those Endorsements, | | | | 9. Plumbing and Sprinkler Systems. Metals, Shut off |
| which would cover this expense.... up to the | | | | valves, pressure loads, and other components may |
| percentage of the Structure limit with the | | | | now be vastly different than when your structure |
| Endorsement that you purchased. | | | | was built. |
| With NFIP and Flood policies, you are only able to | | | | 10. Hurricane Preparedness Code Updates |
| purchase a maximum of $30,000.00, NO MATTER | | | | 11. Exterior Doors and Windows. If wind or water can |
| WHAT YOUR Structure limit actually is. This | | | | easily enter a house or commercial building, major |
| Endorsement (with other than NFIP and Flood | | | | damage to the structure can result. Ordinances and |
| policies) is available in amounts that are A | | | | code requirements for the bracing and strengthening |
| PERCENTAGE of your Structure limit. You usually are | | | | of windows, doors and garage doors are often |
| able to purchase this Endorsement in the following | | | | necessary. |
| percentages: 10%, 25%, 50%, and 100%. | | | | 12. The Roof. Wind resistance standards have often |
| If this endorsement came with your policy (or comes | | | | been updated. Also, types of roof structures and |
| with some future purchased policy), it will most likely | | | | shapes have often been updated. Gable roofs have a |
| be only 10% of your Structure's limit. And this kind of | | | | large "A" shape which can absorb a lot of storm |
| expense can, and very often is, very expensive for | | | | energy, and may now have restrictions or specific |
| you... especially when it is "out of pocket". | | | | strengthening requirements when being rebuilt. |
| A very good rule of thumb to determine the | | | | Conforming to the latest building codes present a |
| percentage of this Endorsement to purchase, is to | | | | very challenging insurance recovery dilemma. |
| use the number found in the percentages available | | | | Tips for getting the most from your claims recovery |
| (10%, 25%, 50%, and 100%) as the probable | | | | process: |
| MAXIMUM NUMBER OF YEARS for which this | | | | - You need to document everything, people you talk |
| percentage will be sufficient, or very close to | | | | to, dates, phone calls, etc. |
| sufficient. In other words, if your home is 10 years | | | | - Get to know and use your Local and State |
| old (from the date of original construction), then 10% | | | | Insurance Department and Consumer Affairs Divisions |
| will probably be sufficient, or very close to sufficient. | | | | as a resource for any information concerning how to |
| Should your home be between 10 and 25 years old, | | | | get the most for your insurance claim. |
| then 25% should do. | | | | - If a contractor or Insurer, Agent, or Adjuster, is |
| If your home is between 25 and 50 years old, then | | | | doing anything that you deem unfair, you need to |
| 50% should cover almost all of this uncovered cost | | | | ask the Insurance Department to investigate them |
| to you. | | | | for a violation of the Unfair Claims Settlement |
| But if your home is older than 50 years of age, then | | | | Practices Act. |
| you should purchase 100% Endorsement coverage. | | | | - Get to know any special commissions or |
| And since my home was originally built in 1958, I have | | | | emergency task force units and how they might help. |
| 100% "Ordinance or Law" Endorsement with my | | | | - Remember that a letter, formally written and |
| policy. And this costs me about $125.00 to $150.00 | | | | expressed, can sometimes give you more power |
| additional each year, with my Homeowner policy; and | | | | than you thought. |
| about $50.00 (more or less) with my NFIP policy. | | | | - Get several quotes from licensed contractors. |
| Wind coverage is included in my home State with our | | | | Understand how you need those quotes broken |
| Homeowner policy; so I don't need to buy that | | | | down. |