What is loss of use on Florida homeowners insurance?

When you think of the loss of use coverage, does the word “hotels” come to mind? First and foremost when it comes to reviewing your Florida homeowners insurance policy, you should understand the term “loss of use”. In fact, loss of use is very important, and at some point, you will more than likely use this coverage.


Have you ever stopped and wondered what you would do if you were suddenly forced out of your home due to loss or damage? Have you ever thought about how much it would cost to live elsewhere while your home is uninhabitable? Depending on how long your wait is, the cost could be quite drastic. According to
https://floridainsurancequotes.net/florida-homeowners-insurance/, Loss of use coverage is also referred to as additional living expenses.


Thankfully loss of use can cover you if your FL home becomes uninhabitable. If you are forced to move out of your home due to damages caused by fire, high winds, and other covered perils. Loss of use will be able to help reimburse you for a hotel stay or even a rental while your home is being repaired or rebuilt.


Not only will loss of use on your Florida homeowners insurance cover your hotel stays, but there are also other expenses that are covered. These expenses usually consist of moving costs, normal grocery bills, storage unit costs, and pet boarding. For the most part, loss of use coverage can definitely provide families with a piece of mind and a sense of financial stability.


Always be sure to thoroughly review your FL homeowners policy from
https://floridainsurancequotes.net/florida-homeowners-insurance/ . While loss of use is pretty basic to understand, you will also need to realize that there are limits. Once you sit down and sign up for your policy, you and your agent will discuss coverage limits for loss of use. These limits are usually determined by:

  • A certain set period of time
  • A certain percentage of the dollar amount of your dwelling coverage, for example, 20% of that limit

Hotels are definitely a great option when it comes to your loss of use coverage. When it comes to Florida homeowners insurance from here, you should sit down and make a game plan if you had to ever evacuate your home. That really saves you time once a situation arises. Next, always make sure you have enough coverage. You will definitely need to make sure you are covered if you need to evacuate your home.