A fire in T’s building destroyed about 40% of the building. Because of laws that had changed since the building was originally built, T’s entire building will need to be torn down and replaced with updated wiring and materials. With which endorsement would T be covered for both the cost to rebuild the building as well as to demolish the remaining existing structure?

Insurance

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A fire in T’s building destroyed about 40% of the building. Because of laws that had changed since the building was originally built, T’s entire building will need to be torn down and replaced with updated wiring and materials. With which endorsement would T be covered for both the cost to rebuild the building as well as to demolish the remaining existing structure?

a. Stated Value

b. Ordinance or Law Coverage

c. Guaranteed Replacement Cost

d. Inherent Vice

Answer: B

You should now have gotten the answer to your question “A fire in T’s building destroyed about 40% of the building. Because of laws that had changed since the building was originally built, T’s entire building will need to be torn down and replaced with updated wiring and materials. With which endorsement would T be covered for both the cost to rebuild the building as well as to demolish the remaining existing structure?”, which was part of Insurance MCQs & Answers. Thanks for choosing us.