Understand what Additional Living Expenses in your home insurance policy covers.
Many homeowners purchase home insurance and understand that it can help them when their property and belongings have been damaged or lost due to a covered peril. What many don’t know is that home insurance can help to pay for additional living expenses associated with a covered peril.
Additional living expenses insurance is coverage that will pay for those extra costs incurred when you’re temporarily displaced from your home. It’s often part of standard of most renters, condo, and homeowners insurance policies. If you cannot live in your home after a peril and you need to move out while it is being repaired, your insurance will help you to pay for associated costs.
There are two major factors that will influence when you can claim ALE.
- You can only claim ALE coverage if a peril listed in your insurance policy damaged your home.
- In addition to only covering events listed in your insurance policy, you can only claim ALE if your home is uninhabitable. For example, if a tree crashes through the corner to your home. It might cause major damage but if you still have running water, electricity, functioning bathrooms, and the rest of the home is fine, the insurance company will most likely deny your claim for ALE.
Ensure that you have the optimum homeowners insurance by visiting the professionals at Sausman Insurance Agency. Our team is here to help you protect your home in Mifflintown, Millersburg, Lewistown, and beyond.