Loss of use. What’s that?

Do you know what is in your homeowner’s policy?  Are you covered for loss of use?  Loss of use is an important provision to include in your policy because your living expenses while you are out of the house will be covered up to a certain amount, depending on your limits.  After a widespread natural disaster claims dozens or maybe even hundreds of homes, an immediate need for alternative housing is created.  Your loss-of-use coverage will take care of the rent for up to a year (perhaps longer if you are actively rebuilding).  Most lost-of-use riders will cover housing which is comparable to what you lost.  Considering how minimal the cost of the rider is for this benefit, it is well worth having in your policy.  You may never need it, but if you do, it is worth more than you can imagine!

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