code / ordinance of law rider????

[Richard F.]

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.