March 5 updates

Please see the Site Coordination page for timely new information.

Also, news on house purchase ALE coverage: You might consider using your ALE coverage to pay a mortgage on an investment house you can buy and live in while waiting for your house reconstruction. That way you can get free equity in an investment! I did this and just had my ALE coverage approved to cover my monthly mortgage payment (including principal, interest, taxes, and insurance), plus additional coverage for an office rental, since my new home is half the size and no longer contains a home office. (Note that there will be some income tax consequences for this. But the equity, and not to mention peace of mind, is a huge net win.)

And, news here about the City of Louisville Energy Code. Most importantly: With rebates and discounts, and now new charitable donations materializing, you will surely end up getting all this for free. With the new ordinance that is being written to grant an “opt out” option for fire victims, there is a great effort to try to also make sure those that do not opt out can still use their insurance extension. The law requires that we all were offered an insurance extension that covers up additional costs due to code upgrades. For most of us that’ll be about 10% of our structure claim, or $40,000-$50,000, which easily covers the costs outlined above, PLUS any other code upgrades, such as negligible $1000 cost of the 2018 code, and similar costs for previous code upgrades. But, if there is no code requirement, you lose that free money. Insurance WON’T give you that $50,000 if your code upgrades are not required. So, while it does look like other sources (utility rebates, manufacturer discounts, and charitable donations) will indeed step up to cover this gap, it’d be even better if we could all use the insurance money, and then use the charitable offers for even more better things. We should all hope that the ordinance is able to achieve this for us. 

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