If you are aware of current events in the USA than you know of the catastrophic wildfires that wipe away timberland and communities every year in our country. It is a horrible, life changing event for survivors and most certainly, is shocking and confusing, as stress takes it's toll on the survivor's mental health and their decision making abilities.
We often see news reports of the victims who are spending what's left of their own money to stay in hotels and shelters, possibly unaware of the full role of their home's fire insurance.
Most homeowner's carry (fire) insurance. For the most part only those who have paid off their mortgage can (unwisely) decide to go without homeowner's insurance altogether. Renters without Renter's Insurance may also be left to self insure this loss on their own.
Most homeowners have Additional Living Expenses as part of their Homeowner's coverage. (ALE) covers hotel bills, restaurant meals, and others costs which are over and above your typical expenses, if you cannot live in your home. The good news is that ALE is calculated separately from rebuild and other allowances, so those other amounts remain untouched to help rebuild.
ALE does often have time limitations, generally measured in months. The dollar amount can typically be increased for a small increase in premium.
Around 2008 my family had to make use of ALE, as we were forced out of our home due to smoke damage. We lived for a month out of a hotel, having to eat all of our meals out as well. We accumulated a hefty bill and many hotel points, but the insurance covered our expenses. We were very grateful to have the coverage and can't imagine what life would have been without it.
If your home was made unusable due to a covered disaster, such as fire, call your agent or the 1-800 number for your carrier. Many insurance carriers have special teams set up, just for this purpose of helping their clients through this especially rough time.
We often see news reports of the victims who are spending what's left of their own money to stay in hotels and shelters, possibly unaware of the full role of their home's fire insurance.
Most homeowner's carry (fire) insurance. For the most part only those who have paid off their mortgage can (unwisely) decide to go without homeowner's insurance altogether. Renters without Renter's Insurance may also be left to self insure this loss on their own.
Most homeowners have Additional Living Expenses as part of their Homeowner's coverage. (ALE) covers hotel bills, restaurant meals, and others costs which are over and above your typical expenses, if you cannot live in your home. The good news is that ALE is calculated separately from rebuild and other allowances, so those other amounts remain untouched to help rebuild.
ALE does often have time limitations, generally measured in months. The dollar amount can typically be increased for a small increase in premium.
Around 2008 my family had to make use of ALE, as we were forced out of our home due to smoke damage. We lived for a month out of a hotel, having to eat all of our meals out as well. We accumulated a hefty bill and many hotel points, but the insurance covered our expenses. We were very grateful to have the coverage and can't imagine what life would have been without it.
If your home was made unusable due to a covered disaster, such as fire, call your agent or the 1-800 number for your carrier. Many insurance carriers have special teams set up, just for this purpose of helping their clients through this especially rough time.
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