Would my Insurance Pay for a Rental Until my Home is Fixed?

If your home is damaged due to natural disaster or some other covered peril under your homeowners insurance policy, then you might have to wait some time for the repairs to be made and you will need to know how to file natural disaster claims. Depending on the level of damage done to your home, you could actually be forced to wait several weeks before things get completely finished. During this time, you may have to find some other place to stay because it might not be safe to stay in your own home.

In the event that this happens, then you may need a place to stay during that time. You may be able to stay with some friends and family members, but this might get crowded after a while. One thing that you may be wondering is whether or not your homeowners insurance coverage will pay for any of the expenses associated with renting a place to stay. The answer to this is going to depend largely on whether or not you have elected the right type of coverage when you signed up for your homeowners insurance policy.

Getting the Right Coverage

If your home is damaged due to a covered incident, then you homeowners insurance policy may actually pay for some of the fees for renting a place while your home is fixed. However, you need to make sure that you have the right coverage for this. If you don't ask for this type of coverage when you sign up for your policy, then you definitely aren't going to get it. Basic homeowners insurance policies will not have this type of coverage included in them. If you just think that you will be covered without checking first, then you may be in for some trouble later on.

As such, you need to make sure that you get this coverage included in your policy. Speak to your homeowners insurance agent about this today, and see what kind of coverage options that are available for you. When you select this coverage, you can pick a coverage amount that you feel will be enough for your needs. You need to consider the fact that you might have to stay somewhere else for several weeks, and this can add up to a lot of money. As such, you are going to have to be careful and select a good amount of coverage that will make sure you and your family have a good place to stay.

Keep in mind, though, that electing this kind of coverage is going to cost you more on your premiums. If you want this kind of protection, then you are certainly going to have to be willing to pay an increased price. Your provider is taking a risk on you, and it will cost a pretty penny if you do have to take advantage of this coverage. As such, your provider is going to charge you more money if you want to get an increased amount of coverage.

Speak to an Agent

If you're wondering whether or not your insurance will pay for a rental while repairs are made, the best thing for you to do is speak to your agent. Sometimes, homeowners insurance policies can be really long and difficult to read through, so you may not be able to find any information on whether or not you have this coverage included in your policy. If, however, you call your homeowners insurance agent today, you can easily find out if this type of coverage is on your current policy.

safe secure

Enter your zip code for affordable home owners insurance quotes


What People Are Saying

"We found your site and changed policies after paying a huge deductible when a storm layed a tree in our living room. Our new deductible is almost 30% less and our monthly payment also went down. Thanks!"

- Sharon and Lewis K, St Louis MO