by Guest » Mon Sep 19, 2011 08:48 am
I understand that my homeowners insurance would pay for the damages caused by natural disasters and other accidental reasons. What I want to know is that for example, if my house gets completely destroyed by a hurricane, will my insurer pay me living expenses till I can rebuild my home?
Posted: Mon Sep 19, 2011 09:36 am Post Subject:
First of all as I far as I know, insurance doesn’t pay for damages caused by all natural disasters, specially floods and earthquakes, for these you need to buy separate insurance policy.
Apart from that you need to check your particular policy to check the names of perils mentioned to get an idea what all is covered.
Check your policy also to know if it provides Additional Living Expenses (ALE), as all policies might not provide it.
If your policy does provide for ALE, then the period as well as the amount of it would be limited as per the coverage limit and terms.
ALE does cover expenses for food, lodging, commuting etc up to a period while your house gets rebuilt.
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