Building ordinance coverage

{
  "id": "MLC-T-INS-000632",
  "term": "Building ordinance coverage",
  "field": "Insurance and risk management",
  "definition": "An endorsement added to a property insurance policy that provides coverage for increased costs incurred due to the enforcement of building codes or ordinances after a covered loss. This includes expenses for demolition of undamaged portions, increased cost of construction to meet current codes, and loss of value of the undamaged portion. It addresses costs beyond simple repair or replacement of damaged property.",
  "subject": "Commercial Property",
  "url": "https://mlchart.com/terminology/insurance/building-ordinance-coverage/"
}