The Expert Podcast

• Natural disasters or property damage often lead to questions about insurance claims and home value.
• A key but often overlooked term in insurance policies is Ordinance of Law.

• If your house is destroyed by fire, hurricane, or another disaster, insurance will cover rebuilding costs based on its previous value.
• However, building codes and regulations may have changed since your home was originally built.
• Upgrades like reinforced roofing, new electrical systems, or septic tanks may be required.

• Your insurance payout may not fully cover the cost of rebuilding to modern standards.
• Example:
  • Home value before disaster: $500,000
  • Mortgage owed: $250,000
  • Insurance payout: $300,000
  • Potential out-of-pocket cost: $200,000+

• Insurance may not cover:
  • Upgrades to meet new building codes
  • Debris removal and hazardous waste cleanup
  • Personal property losses beyond certain limits

• Review your policy to understand Ordinance of Law coverage.
• Consider upgrading your policy to cover rebuilding costs for modern codes.
• Speak with an insurance expert before disaster strikes to avoid surprises.

• Licensed Insurance Broker
• Private Investigator
• Real Estate Title Examiner
• Certified Civil Court Mediator
• Licensed General Contractor