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!
Published by Fran
In 2013, I was vacationing with my husband in Alaska when the worst fire in Colorado history incinerated our home and all of our possessions. Five years later, I have completed Rising from the Ashes which chronicles our recovery and also gives many helpful suggestions for others going through a similar experience. I believe that you can suffer a disaster of this magnitude, work your way through the grief and move forward to restore your life. On the way, you can discover strengths and abilities you may not have known you had, and you can enjoy what lies ahead. I've been married to my husband Larry for 48 years, am the mother of five children and grandmother of 17. The daughter of a National Park Service employee, I was fortunate to live in some of the Nation’s most beautiful places, particularly Yellowstone National Park. After marrying, my husband and I lived in many Air Force locations in the US as well as in Germany and England. I have written study guides for students and teachers of Classical history and literature and enjoy spending time with family, traveling reading, writing and hiking. View all posts by Fran