RULE 30.2C - ORDINANCE OR LAW COVERAGE (CO 30 57)
The policy does not provide against loss from ordinance or laws which regulate construction, repair or demolition of the property. The policy may be endorsed to insure Coverage A - Dwelling and Coverage B - Other Structures against loss from ordinance or laws which regulate construction, repair or demolition of the property.
The amount of Coverage A - Dwelling must be adjusted to 100% of the sum of the full replacement cost of the dwelling to cover increased construction costs and demolition expense.
The premium is calculated by multiplying the base premium as indicated below:
Coverage Limit |
Factor |
5% of Coverage A
|
1.05 |
15% of Coverage A |
1.09 |
25% of Coverage A |
1.12 |
Endorsement CO 30 57 Ordinance or Law Coverage will be attached to the policy.
