Homeowners Insurance
What is O&L coverage and why do I have it?
O and L stands for Ordinance and Law. Though your agent said that it wouldn't cover code upgrades, perhaps he meant that if a code went into law, your insurance isn't going to accept claims to upgrade the home and bring it up to code — unless your home suffers a loss. What this coverage does is that if your home is damaged, you have additional funds to bring the building up to code with any new laws since the home was originally built.