If your home is destroyed, where will you live?
Have you ever thought about this question? Sure, if you are properly insured you should have coverage for your contents and liability, but what about the cost of a hotel while my home, condo, or apartment is being rebuilt?
This is one of the valuable benefits found in homeowner, condo unit-owners, and renters insurance policies from Absolute Integrity Insurance.
When your home, condo, or apartment is destroyed or uninhabitable due to a covered cause of loss (such as fire, wind, etc.), then your policy not only pays to fix your property (i.e. or contents in the case of a renters policy) but it also pays for your increase in living expenses due to the disaster. This increase includes extra distance in driving to work, additional food costs, temporary housing, and other temporary increases in your living expenses after a covered loss that results in you being temporarily displaced from your residence.
This is extremely important, especially for Condo Unit-Owners and Renters who are less likely to maintain coverage as they feel that they "don't care" about their belongings and the building is insured by the Condo Association or Apartment Complex. While this is partly true (the building is insured by the Condo Association or Apartment Complex), the Condo Association or Apartment Complex policy does NOT pay for it's tenants living expenses while displaced from their residence!
If you are a renter or condo unit-owner without proper insurance, you run the risk of temporary homelessness in the event of a significant loss to your place of residence.
We recommend that all of our property insurance customers carry not only adequate limits for their contents, owned dwellings or buildings, and liability but also for the "Loss of Use" or "Additional Living Expenses" coverage.
If you don't have this type of insurance or would like a review of your current plans, please contact us at 317-883-1316.