Staying current with building bylaws can be a challenge for which you need to be prepared. Just because your home met the required codes when it was built, it may not always stay that way. This becomes increasingly true in older homes, and the costs associated with meeting new laws can be significant. If you have any doubts, you should contact your Calgary homeowner insurance broker and see about having bylaw coverage added to your policy.
Over the life of a home, and its insurance policy, many changes can occur. What if a disaster damaged or destroyed your home? Most policies will cover restoring it to its prior condition, so you might think you were covered, but what would you do if building codes had changed since your home was built? New types of windows or foundations might be required. Some homeowners even find that their lots have been re-zoned after a disaster, which would require you would have to have your home rebuilt on a new lot. The cost of a new lot would most likely not be covered by your existing policy. Being sure to have adequate coverage can protect you from having to pay out of pocket when your life is already in upheaval. Adding an endorsement (or rider) which covers these conditions, and gives you extended coverage, usually don’t cost much.
“Building codes and bylaws change constantly, and while some policies include this kind of coverage, most do not.“~Chad Mullen, Lane’s Insurance
Sometimes it seems like life brings surprises on a daily basis. Building codes and bylaws change constantly, and while some policies include this kind of coverage, most do not. Protecting your valuable property with the correct coverage can give you peace of mind, and that reassurance can be priceless.
