What is Loss of Use Coverage

What is loss of use coverage?

Essentially, it provides coverage for you to live somewhere else due to your home being repaired or if your home is inhabitable.

Most homeowners insurance policies have this coverage.

However, it is an "incurred" coverage, meaning the cost needs to be incurred and then the insurance company will reimburse you for that expense.

[eddiejhong]

Thanks for these videos, Mike! They have been very helpful as this is my first time going through the insurance claims process

[cathscraigs]

Is 'loss of use' coverage 'automatic' or do you have to choose it and pay extra for it? Wondering...because our shed sustained significant fire damage, and our lawn mower/equipment were 'totaled' so wondering if I can get lawn maintenance cost covered until I can get a replacement lawn mower.

[saintclairepatriz]

No a very good explanation. He elaborated more on case laws than explaining what loss ofnuse actually is and covers. Im an insurance agent and what it does is it keeps you from exceeding your monthly expense for lodging. Basically it covers any amount that exceeds your normal monthly payment for rent.

[blover]

Meals are meals covered because I can’t live in my home so I can’t cook.