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code / ordinance of law rider????
4 posts by 3 users
Northshore B.Property ManagerHonolulu, HI 
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I attended a NARPM conference this week, and there was a brief mention of a rider that can be added to landlords comp policy that, in the event of a loss, if the city code people require you to upgrade, for example, your electrical service to current code, this will cover the added expense, vs. " replacement" cost which would not. I haven't had time to check with our agent yet...anybody familiar with this? cost? Seems like it could be worthwhile on older properties. |
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Michael S.Real Estate Investor / BP ModeratorBellefonte, Pennsylvania 
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I'm guessing it would be more expensive on older properties. That would be a fantastic thing to have. If I had something like that I would be tempted to go to the code office and tell them to make me upgrade my property :-) -Micheal |
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Jon H.Real Estate Investor / BP ModeratorDenver, Colorado 
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I've had this clause in most of the insurance policies I've had. |
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Michael S.Real Estate Investor / BP ModeratorBellefonte, Pennsylvania
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I missed the " in the event of a loss" part. I'll have to look over my forms to see if I have that one on my properties. -Michael |
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Posted: 06/21/2008 at 05:30PM