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Additional Living Expenses

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Additional Living Expenses

With the wildfires raging in the West, hurricanes & tornadoes in the Midwest & South, one coverage that will certainly be used is Additional Living Expenses. Your homeowners policy includes several coverages as a part of the basic policy:

Dwelling Coverage A – this amount will be used to repair your home or in case of a total loss to haul away old debris and rebuild the home using the Replacement Cost Estimate on file.

Other Structures Coverage B – this amount will be used to repair an outbuilding/fence/gazebo/standalone deck/etc. or to haul away debris & rebuild it. If you do not have any other structures on your property, you can use this amount towards your dwelling.

Personal Property Coverage C – this amount in conjunction with the Replacement Cost endorsement will replace all of your damaged belongings due to a covered loss. Antiques, obsolete items, & other types of personal property would be excluded from coverage BUT depending on the item you could schedule it on your policy.

Loss of Use/Additional Living Expenses Coverage D – this coverage will help pay for a temporary residence & other bills relating to being displaced from your residence due to a covered loss. Again these expenses are “reasonable” to maintain your lifestyle prior to the loss.

Personal Liability Coverage E – this coverage helps to take care of a claim at your residence where you are deemed liable. This is a “third party” coverage meaning that it does not cover the Named Insured/Spouse/Resident Relatives, only visitors to your property.

Medical Payments Coverage F – this coverage is known as a “goodwill” coverage meaning to cover minor medical incidents that occur at your residence involving a visitor or other “third party”.

The Loss of Use/Additional Living Expenses coverage is available for covered losses only. If you are remodeling your home for example and need a temporary place to stay while the remodel is being completed – you are on your own.

The coverage will take care of renting a home/condo/hotel room, laundry services (if unavailable at temporary residence), meals (only if cooking facilities are unavailable at temporary residence), pet boarding (only if you are unable to keep pet at temporary residence), and other bills associated with being displaced from your home due to a covered loss.

Contact Us!

At M. Vander Plow Insurance Agency, we can work with you to make sure you’ve got the coverage you need, while at the same time using all possible credits and discounts to make that coverage affordable. Just give us a call at 616-396-1497 or send us a note at mvpinsagency@gmail.com. We want to help you meet your goals, and make sure what’s important to you is protected!

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