Additional Living Expense Coverage

Yesterday morning I was enjoying my morning coffee when I heard a very, very loud noise.  I looked up through the front window of my home just in time to see a gigantic branch falling onto the roof of the home across the street.  The initial damage was substantial and when I walked across the street to confirm everyone was okay I noticed the weight of the branch was so great you could hear the home shifting.  Obviously the home was unsafe to be in and when I saw a women pop her head out of the upstairs window I immediately advised she exit the home.

Like many homes in my neighborhood the home that was damaged is a rental home.  I asked the tenants standing outside if any of them had renters insurance and they all responded with the same confused answer, “No and why would I need renters insurance in this situation.”

When a home is considered unsafe for a tenant to occupy, additional living expense coverage (ALE) kicks in.  This covers the expenses associated with being displaced from the home they rent.  Expenses like the cost to stay in a hotel and paying for meals are typically covered under ALE.

Many renters operate under the assumption that a renters policy only covers their belongings and isn’t worth the premium.  Renters policies cover much more than belongings and only cost $10-$20/month, which in my opinion is well worth the expense.

If you, or anyone you know has any questions about renters insurance, please do not hesitate to reach out!



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