Our homes are susceptible to accidents and disasters, which in most cases, we may not control. Extreme situations and accidents such as fire and floods can render your home unlivable. However, devastating it may sound, you may need to vacate your Santa Monica, CA home, and find temporary housing to stay in the meantime.
What happens to your home insurance?
Fortunately, your home insurance covers such incidences, and this type of coverage is known as "loss of use". That is why at Express Financial & Insurance Services, we like to emphasize buying quality home insurance coverage to protect your home and loved ones. Your insurance company will take care of the loss and also provide you with alternative accommodation based on your policy.
You may need to top-up your loss of use coverage.
In most cases, loss of use coverage may not be adequate to cover the damage. Your insurance company may require you to add on extra costs or pay other things like utilities. Depending on how long you’re going to live in the new premises, your insurer may set a limit on how long they will pay for your accommodation.
How will your insurance company settle you?
Depending on your premiums, your coverage should find you alternative accommodation that is similar to your home. For instance, if you lived in a five-bedroom house, you should be re-housed in a five-bedroom house to allow you to continue with your normal lives as quickly and as soon as possible. Your insurer should find a home that is not far from your previous house so that work and school are not disrupted.
Your home becoming uninhabitable is a whole new headache. Luckily, a home insurance policy can help take care of everything. At Express Financial & Insurance Services, we are here to make things smooth for you. For more information, quotes or queries, call us or visit us at our Santa Monica, CA offices today.