ClaytonHammer wrote:
This is exactly covered under "Loss of Use" - standard in most homeowners policies. Mine has a $35k/year limit. That's about $3k/month for a rental + other inconveniences.
A buddy of mine had a large fire at his house. Insurance immediately put his family up in a nice 3br rental condo, gave him $3k cash for "immediate needs" like food, clothing, medicine, and started the inventory process to figure out the damages. All in all insurance paid something like $28k just for the "loss of use" of the property alone, plus paid all the repairs. He only had to pay his $1000 deductible.
Makes perfect sense. Obviously I am a renter who has never had to use my renter's insurance. Thanks!