An Extended Replacement Cost (“ERC”) endorsement1 can be added to a policy to increase the stated limits for your dwelling/building and potentially other structures.2 In homeowners policies, this endorsement most commonly increases the stated limits 25-50%.3 The ERC endorsement is most often found in policies of property owners in areas prone to widespread natural disasters.
Continue Reading Extended Replacement Cost Coverage: A Safeguard Against Demand Surge
