Law or Ordinance Coverage in New York

If your business is in an older or historic property, especially, after a loss where you need to rebuild or renovate there may be a number of systems, including electricity and plumbing, which may need to be updated to get you compliant. The right policy can help cover the costs of these upgrades.

What Is Law and Ordinance Coverage?

Building ordinance or law coverage covers the cost to upgrade or rebuild a property to code after a covered loss. It also covers the cost to rebuild a property that has been destroyed by a coverable loss. With this insurance, you can ensure the property is to local codes before you open your doors again. This type of coverage is also available for residential properties.

Law and ordinance coverage in New York is important if your business is located in an older property or if you have been in the same commercial property for some time. In New York, building laws and codes do get updated and the building which was up to code when your organization moved in may need to be upgraded after a covered loss to be compliant.

In many cases, commercial insurance covers the repairs of a building after an insured event. For example, if there is a fire, business insurance will help cover the costs of repairs or reconstruction. However, these policies cover the costs of building the structure as it was. If a business owner discovers additional costs are needed or undamaged, and thus uncovered, portions of the building need to be dismantled to make the building up to standard, and law and ordinance coverage covers the added expense.

This policy includes three sections:

  • Coverage A: Coverage for undamaged portions after a partial loss. If part of the siding of your building is damaged but you need to replace the entire siding after a covered event because none of it was up to code, this coverage protects you.
  • Coverage B: Coverage for the demolition of the undamaged portion of your business property. If half of your wall was damaged by a covered event but the whole wall needs to be replaced because it violates city ordinances, this coverage pays for the wall to be demolished and removed.
  • Coverage C: This coverage is for enhancements that are required due to changes to standards or codes. For example, if ADA rules require your property to have a ramp, this coverage helps cover the cost of its installation so you do not have to pay for any changes out of pocket.

Commercial Law and Ordinance Insurance in New York

If you need commercial insurance in New York, contact us at Kokkoris Insurance Services. Our boutique agency has been serving New York businesses in the hospitality, restaurant, bar, lounge, developer and contractor industries for more than 25 years. We always treat our clients as valued members of the team and we work together to help you find the right coverage for your needs. You can contact us online or by calling 718-728-0606. Get a quote today or discuss your insurance needs with a member of our knowledgeable team.

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