ADDITIONAL LIVING EXPENSE "ALE"
INSURANCE CLAIMS
Coverage D
CALL THE EXPERTS AT OCEAN POINT CLAIMS TO HELP YOU THROUGH THE CLAIMS PROCESS.
Loss of Use or Business Interruption
Is your home unlivable? Do you have questions about Additional Living Expenses? Learn how our experienced public adjusters work for you to maximize your ALE insurance claim. Additional living expense or “ALE” insurance claims can be confusing. When you have been displaced many times your homeowner’s insurance policy entitles you to receive repayment for your incurred expenses during this time. This includes hotel stays, temporary housing, eating out, among many other expenses you may not consider. This coverage applies for rental properties as well. When your tenant is displaced and isn’t able to pay rent often times you are entitled to the Fair Rental Value or “FRV”.
Let us help you restore your life and get the money you deserve, call us today at 888-824-1306! We can reopen underpaid and denied claims!
Note: If you are looking for details for loss of use / business interruption in a place of business or commercial property, click here for our Business Interruption page.
ADDITIONAL LIVING EXPENSE "ALE"
INSURANCE CLAIM TIDBITS:
If you have suffered a loss in your home or business that has rendered it unlivable or unusable it is important to contact Ocean Point right away so that we can dispatch the proper experts to your home or commercial property immediately. We never charge for advice. Helping the public is what we do! Even if you don’t plan on hiring a public adjuster, we are here to answer your questions. Call us at (888) 824-1306 today!
As soon as possible, notify insurance company and/or insurance agent. Immediately request that a certified copy of your insurance policy be sent to you. This is your insurance contract. You don’t know what you’re covered for if you don’t have your policy. Before incurring additional expenses after a loss, you need to know what your Coverage D policy limit is.
Get a notebook and folder, you must get and remain organized. You will regret this if you don’t. Write down the name and contact information for everyone that you speak with after the loss and during claims process. Again, it is best to start this immediately after the fire. If you do not hire a public adjuster to handle your claim, make sure to make a log of every person, date and time that you speak to at the insurance company. Keep business cards that you receive with these notes. Don’t forget to write down all of your expenses and keep the receipts in your fire folder.
It is all too common for clients to tell us their stories about being placed on the street after a loss, such as a storm or fire. It happens to people in their homes, places of business, apartment buildings, condos. It happens to people with homeowner’s policies, renters policies, commercial policies alike. If you are in need of a place to stay after a major loss, contact the Red Cross.
When you have homeowners, condo, renter or commercial insurance, Additional Living Expense coverage keeps you from falling victim to becoming “homeless” or ending up couch crashing at your best friend’s home while your repairs are completed.
A.L.E. - COVERAGE D
PUBLIC ADJUSTER NEAR ME
ADDITIONAL LIVING EXPENSES (ALE) – WHAT IS IT AND HOW DOES IT WORK?
Additional living expenses or ALE is type of coverage that may be included with homeowners (HO3, HO8), renter (HO4), condo (HO6) or commercial insurance policies. Additional Living Expense, often found in the Coverage D section of your policy, provides compensation while your property is undergoing repairs after a covered loss. This coverage is important for your way of life and your family. Additional Living Expenses will assist you with the funds to maintain your lifestyle. It will also repay you for the additional costs of staying elsewhere when your home / business is destroyed or uninhabitable until it is repairs are made. Just don’t forget, there is a limit of coverage. Check your declarations page of your policy for “Coverage D”. To ensure that you understand how ALE works, here is an example. If you usually pay $600/mo in groceries and suddenly you were without your kitchen rendering you unable to store and cook food, you would have to eat out right? During your displacement you spend $1000/mo for eating out. Your repayment for meals should be $400, not $1,600. Reason is, you’re only spending $400 more than usual. This coverage goes for many things. This is why receipts are so important.
Examples of items covered by ALE coverage:
- Restaurant meals (always excludes alcohol)
- Increased transportation costs due to your new
- Lease / Rental, hotel, motel or room in a boarding house
- Laundry
- Furniture rental
- Storage costs for your personal property, under special circumstances they may be handled under your personal property coverage
- Moving costs
- Pet boarding
- Contact us for questions, we can tell you what you are covered for should you be in this situation. The call is always free.
FAIR RENTAL VALUE COVERAGE (FRV) – WHAT IS IT AND HOW DOES IT WORK?
Fair rental value is a coverage similar to Additional Living Expense coverage, however; it is used to recover loss of rent when your tenant is displaced after your rental property is damaged beyond usability. This is Coverage D in your homeowner’s insurance policy. The amount payable is determined by the fair rental value of the property. It is important to maintain current copies of the lease agreement between you and your tenant so document the set monthly rent. There can be different factors too, such as if the dwelling has been rented to the tenants furnished or unfurnished, if bills and taxes are included in the rent, and if you provide the total lodging to the tenants or one room. Simply put, the actual cash value of the property you rent to your tenant is determined by the amount of support you provide. The amount of your FRV / Coverage D is located on your declarations page of your policy.
