Increased Cost Endorsement


Definition of "Increased cost endorsement"

Coverage for extra expenses associated with the reconstruction of a damaged or destroyed building where zoning requirements mandate more costly construction material. This endorsement is attached to property policies.



Search Real Estate Glossary

 

Related Real Estate Glossary terms

Household

Group of people residing in one home, usually consisting of a family. ...

Derivatives

Securities that derive their value from other financial instruments that are used by the insurance c ...

Natural Losses

Property damage, accident, or injury resulting from vagaries of nature, including tornadoes, hurrica ...

Balance Sheet

Statement of financial condition for a real estate business at the end of a reporting period listing ...

Diagnosis Related Group

Method of determining reimbursement from medical insurance according to diagnosis on a prospective b ...

Common Trust Fund

Same as term Commingled Trust Fund: pooling of assets of two or more pension funds under common port ...

Related Real Estate FAQ

Do I Need Life Insurance?

Whether you are a .boomer. an .X-er. or an .empty Nester. it is never to or too late . to think abou ...

Should I Consolidate My Debt?

Discover your potential monthly savings by combining your bills into a single source. Eliminate high ...

What Is A Seller Disclosure?

A seller disclosure is a form required by most states; the seller uses this form to disclose any kno ...

What Is Escrow?

Escrow is a trust account created by a neutral third party to hold money for the seller or buyer. Wh ...

Is Depreciation Common?

Generally, real property never depreciates in value, or more so, it is not very common for property ...

What Is Homeowners Insurance?

Homeowners insurance is an insurance policy that combines personal liability insurance and hazard in ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

How is Square Footage Determined? Why Right Now is a Good Time for Millennials to Buy a Home Rent or Buy - the pros and cons What do Real Estate Attorneys do? What is the Best Time of Year to Buy a Home?

FAQ

How much Life Insurance do I need? What happens when a property starts to depreciate? What is a buydown? What is a conventional mortgage? What is a CD?