What Is Additional Living Expense Coverage?

When events occur that limit your ability to live in your home, you may have to move to a secondary location.

If the event is a covered peril under your home insurance, you may get some help paying for those extra costs. Many home insurance policies offer additional living expense coverage. This type of protection is also available through some renter’s insurance plans. You should understand what the coverage is and when it applies to your situation.

When Does Extended Coverage Apply?

The access to this type of insurance is available when a covered peril occurs. A covered peril is an event that is accidental or unavoidable and impacts the condition of your home.

Most insurance policies list the types of perils covered. For example, property insurance often covers perils such as fire, theft, and vandalism. Comparatively, flood or water damage is often excluded. This means the coverage does not apply.

Extended coverage through additional living expenses will occur in some situations. Often, it is available to the homeowner if the incident leaves the home uninhabitable. A fire, for example, may cause renovations and a significant amount of time away from home. During that period of time, this component of your health insurance may step in to protect you from the loss.

What Does It Cover?

Additional living expense coverage provides protection to you for a number of situations. For example, it can cover your stay at a hotel or rental unit while you cannot live at home. It may cover some of your other expenses, such as meals out. Coverage often depends on what necessities you might need to live outside your home. Each policy is unique.

Homeowners should consider their need for this coverage and customize. Customizing your policy can help you cover necessities if you have to vacate your home.

Additional living expense coverage can give you peace of mind if the worst happens. You can move your family into a secondary location while your home’s repairs take place. You can also minimize financial losses you might incur to simply meet your family’s needs when an incident occurs. Update your home insurance to be sure it includes this type of financial protection. You’ll appreciate having it available to you if you need to use it at some point in the future.

We have the right coverage for you. Call Miller Insurance Agency right now for a fast, free home insurance coverage. We will work with you to get the right policy. Call us at (409) 899-9531 for more information.