If you’re forced to leave your rental due to a covered cause, your renters insurance can help cover the cost of temporary housing like hotels, motels, or even Airbnb rentals. <\/p>\n\n\n\n
Keep in mind that your policy will typically only reimburse you for expenses above your usual living costs at home.<\/strong><\/p>\n\n\n\n Loss of Use (LoU) coverage is a crucial component of your renters insurance policy. It comes into play when a covered peril, such as a fire or windstorm, damages your rental property, making it uninhabitable during repairs. <\/p>\n\n\n\n LoU coverage helps with the additional expenses you’ll incur while finding temporary housing.<\/p>\n\n\n\n Keep in mind that most renters insurance policies don’t cover damage from specific natural disasters like floods and earthquakes. Always review your policy’s list of covered perils.<\/p>\n\n\n\n Apart from hotel expenses, your additional temporary living costs may include increased food delivery, laundry, moving fees, storage costs, parking, and pet accommodations. Remember that you can usually claim the difference between your usual spending and the increased expenses during the Loss of Use period.<\/p>\n\n\n\n Many renters insurance policies cover additional temporary living expenses for up to 12 to 24 months or until your home becomes habitable again. Lemonade’s Loss of Use coverage, for instance, lasts for a maximum of 24 months.<\/p>\n\n\n Incredible coverage, amazing prices<\/p>\n Get a Quote<\/a>\n Loss of Use coverage: What you need to know<\/strong><\/h3>\n\n\n\n