One of the most overlooked coverages available under virtually all homeowner’s insurance policies is that of additional living expenses, or ALE. ALE is sometimes referred to as loss of use, but its importance to any homeowner’s or property insurance claim cannot be overstated. This is because ALE coverage compensates you for the additional living expenses you have to pay if you are out of your home while repairs are completed as a result of a storm or other covered loss. ALE coverage is extremely useful to have. The repairs made to your home after you suffer a loss can often involve having to secure a short-term rental or staying in a hotel and racking up potentially thousands of dollars in extra expenses you can scarcely afford when you are already dealing with an expensive loss to your home and your insurer may be dragging its feet in paying or trying not to cover in full. Your additional living expenses can be considerable. Nevertheless, and although few insurers will call your attention to this, ALE coverage is standard with virtually every insurance policy in Florida and can provide you with the much-needed funds to cover your living expenses while your home is being repaired. Therefore, it is important for any Florida homeowner to be aware of his or her ALE insurance coverage and what it is there for in particular if you suffer any type of damage or loss to your home.
Are There Limits on ALE?
Just like every insurance policy has limits as to the amount of building coverage, or what the insurer will pay for any repairs and/or replacement of damaged portions of your home as a result of a covered loss, so too does each insurance policy have a specific limit as to the amount that it will pay in ALE. Most insurance policies provide that the insurer will only pay for the shortest amount of time needed to repair whatever damage your home has suffered as a result of a covered loss. However, if you have to rent a home or stay in a hotel for weeks while your home is repaired from a covered loss, then ALE coverage is available up to the limits of your coverage for that particular item. Therefore, if your ALE limit is $10,000 and it costs $8,000 for hotels, meals, etc. while you are out of your home as a result of a burst pipe, then your insurer should reimburse you for that entire $8,000.
Why Is Having ALE Coverage So Important?
Having ALE coverage is so important for the very reason that often times you may be paying out of pocket at first for your damages as a result of loss to your home while you are attempting to work out resolution of your claim with your insurance carrier. ALE can provide some much-needed relief if your insurer is dragging its feet in issuing payment to you, and you are left paying deposits to contractors or other expenses out of your own savings. Not only are you not being paid by your insurer but having to move out of your house can be extremely costly, particularly in Florida given you may be competing for short-term rentals with snowbirds or other tourists who drive up the prices. ALE coverage allows you to rent a home or a hotel room while the damage to your home is repaired. Often, the time it takes to repair your home while you are out of the house and staying somewhere else may be shorter than if the contractors are attempting to fix the damage around you while you are still in your home.
You pay a premium for this coverage, so you should absolutely use it. The problem, however, is that very few people know about this coverage even though they are paying for it. Nevertheless, if you have just suffered a loss in a storm, fire, water leak or any other type of claim, ALE is available. You just have to know about it in the first place.
Contact David Flaks of PubAdjuster to Maximize Your Recovery
Regardless of what type of loss you have suffered to your home, whether storm damage, a burst pipe, a fire or otherwise, PubAdjuster is here to assist in maximizing your recovery from your insurer. This includes helping you to obtain the necessary funds from your insurer to pay for the time you may be out of your home while damage is repaired. David Flaks of PubAdjuster knows the ins and outs of ALE and all other types of coverage available under most insurance policies like the back of his hand and will ensure you recover what is owed to you under your insurance policy. From our offices in Boca Raton, we serve clients in Broward and Palm Beach Counties and throughout Florida with a wide variety of different types of insurance claims. We will work with you to ensure that you maximize your recovery from any type of damage or loss. Call (561) 212-0239 or email us at david@pubadjuster.com for a free claim review today.