Understanding Additional Living Coverage in Displacement Situations

The Value of Additional Coverage in Homeowner’s Policies

At Fenzl Insurance Agency in Hamburg, NY, we add an extra layer of protection to your homeowners’, condo’s, or renters’ insurance policy with our additional living coverage. This feature proves beneficial when your residence becomes unlivable because of a covered peril, assisting with unexpected costs.

Standard Covered Perils

Our coverage safeguards your interests against the following perils:

• Fire and Smoke
• Vandalism
• Explosions
• Windstorms
• Water Damage
• Roof Damage Due to Snow or Ice
• Falling Objects

This type of coverage is designed to help you financially while your house is under repair. Covered costs may include temporary rentals, pet relocation expenses, restaurant meals, and essential purchases like clothing or personal hygiene items. The policy also includes a spending cap – the maximum amount your insurance pays for after a covered loss.

Examples of Additional Living Expenses Coverage

For instance, if your house suffers severe damage from a fire, you may need temporary shelter while the necessary repairs take place. Expenses incurred during this period, such as hotel accommodation, daily meals, and even clothing needs, are covered by the additional living expenses.

It is crucial to keep all receipts from spending during this time, as insurance companies use these details to calculate routine expenses while determining the amount you’ll receive for additional living expenses. This sum is deducted from your claim payout.

Protect Your Home with Insurance

A home, be it damaged or uninhabitable, requires protection. Ensure your property and guard your finances against calamities with an insurance policy. Contact Fenzl Insurance Agency in Hamburg, NY, for a transparent quotation today.