What Is Coverage For Additional Living Expenses?
Whether you are purchasing homeowners insurance for the first time, updating your policy, or just reviewing your coverage, you may have come across the term ‘Additional Living Expenses’. Also known as ALE, your current policy may already include this type of coverage, or you may be wondering if you need to add it the next time you update your policy. As a homeowner, you know that storms are a major threat to your property, so you should always consider this type of coverage. Below, our Daytona Beach residential property damage lawyer explains why.
What is Additional Living Expenses Insurance?
Additional living expenses insurance is available in the event that you can no longer live in your home. This could be due to a fire, storm, or other natural disaster. Some expenses that could be covered by ALE insurance include:
- Storage fees
- Temporary rent
- Pet boarding
- Mileage
- Laundry
The losses that ALE will cover depend on the specific terms of your policy. Generally speaking, the losses must be directly related to the fact that you were displaced. ALE coverage can drastically vary from one policy to another, so it is important to fully consider what you may need, and what coverage your policy currently entails.
How to Maximize Additional Living Expenses
If you have additional living expenses coverage, you need to maximize it in the event that you have to use it. To start the process of obtaining coverage, you should contact your insurance company and let them know that you intend to initiate a claim. Your policy should include information about how to start the process. Still, there are some tips for maximizing ALE coverage. These are as follows:
- Keep detailed notes: You want to be reimbursed for as many out-of-pocket expenses you incurred as a result of your displacement. To do this, you must keep detailed notes and receipts about everything you have paid for. Also take detailed notes of when you spoke with your insurer, what was said, and the name of the person you spoke to. Documentation is critical in any insurance claim.
- Find living arrangements that are similar: Any temporary housing you need while your home is being repaired should be similar to your permanent residence. For example, if you live in a two-bedroom house, find a two-bedroom house to be your temporary housing. ALE coverage will not pay for a home that is much nicer or larger than the one from which you were displaced.
- Only incur necessary costs: ALE insurance will not provide coverage for luxury or large expenses. Pay for only what you need to ensure you will receive the coverage you need.
Call a Residential Property Damage Lawyer in Daytona Beach
Even if you have ALE coverage in your current policy, the insurance company may fight back against your claim. At Bundza & Rodriguez, our Daytona Beach residential property damage lawyer will talk to the insurer on your behalf so you obtain the full and fair coverage you deserve. Call or text us now at 386-252-5170 or chat with us online to book a free consultation.
Source:
leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0600-0699/0624/Sections/0624.155.html
