LifeFocus.com
Page 150 of 152
If my home is destroyed, will my homeowners insurance cover my living expenses until I rebuild? Question: If my home is completely destroyed by a storm, will my homeowners insurance cover my living expenses until I can rebuild?
Answer: Many homeowners policies will pay the cost of so-called additional living expenses, such as food, housing, and utility hookups, while you're waiting for your house to be rebuilt. But check your policy carefully to see if you have this coverage. If your policy contains a clause for additional living expenses, the amount of benefits is limited to a certain percentage of your total homeowners insurance coverage. A time limit may also be imposed on the coverage period for such living expenses. You may want to contact your insurer to find out what specific types of services it will and will not cover. Different companies have different methods of paying out money to clients for additional living expenses. If you qualify, you may receive an initial payment right away, or you may have to wait for a reimbursement as part of your overall loss claim. Whatever method your insurer uses, be sure to keep all of your receipts. You may be ineligible to receive payment without them.
See disclaimer on final page March 28, 2010