Homeowners Insurance – Loss of Use/Additional Living Expenses Coverage

The Loss of Use/Additional Living Expenses coverage on all homeowners insurance policies IS NOT the same.  Some policies pay up to a certain percentage of the amount the home is actually insured for; while some policies pay for the actual loss sustained up to a certain period of time (usually 24 months).  The coverage typically kicks in when your home is rendered UNINHABITABLE due to a covered loss.  You should examine your policy to see what type of Loss of Use/Additional Living Expenses coverage is included with it.  The cost to live somewhere else can add up quickly while your home is being repaired and the last thing you need is to be surprised, thinking you have coverage you do not in the event of a loss. 

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