For example, if your house partially burns down and becomes uninhabitable, your loss of use coverage would reimburse you for the cost of a hotel, up to your coverage limit.įair rental value: Also known as loss of rent insurance, fair rental value reimburses you for lost rental income if you're renting a home and it becomes unlivable due to a covered loss. Loss of use coverage, also known as coverage D, provides two main forms of protection.Īdditional living expenses coverage (ALE insurance): ALE insurance reimburses homeowners for additional living expenses stemming from having to live away from home after a covered loss. What is loss of use coverage in homeowners insurance?
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