What Is Loss Of Use On Renters Insurance?
90 POINTSview profileDennis HarveyOwner, Dennis Harvey Agency: Farmers Insurance, Dallas, TXLoss of Use coverage gives you protection in the event that your rented premises become unlivable from a covered incident. For instance if the apartment building catches fire and you're no longer able to live in your apartment, loss of use coverage covers your additional expenses above your normal expenses when you have to temporarily relocate.Answered on April 23, 2014flag this answer
37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaIn reviewing a California policy, the term, “loss of use” doesn’t appear in a tenant’s policy. Instead the comparable coverage is called, “Additional living costs and loss of rent coverage.” The coverage provides reimbursement for the additional cost of finding temporary lodging if your rented unit is not fit for use. There is a caveat about the period of time being “reasonable.”Answered on April 23, 2014flag this answer
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