ILG’s Kimesha Smith Gives Insight on “Loss Of Use Coverage” | Insurance.com

Mar 2, 2021

how to file loss of use coverage in Florida Kimesha Smith

Loss of use coverage provided by your homeowners insurance policy helps pay for additional living expenses that incur in the event your home is severely damaged, making it temporarily uninhabitable. Think of temporary rent, hotel stays, storage and moving costs etc.

With that being said, it’s also important to understand your Florida homeowners insurance loss of use coverage, limits and rules. In a recent article on Insurance.com, ILG’s attorney and director of client relations, Kimesha Smith, and other industry experts provide insight on “loss of use coverage: everything you need to know.” Below are some highlights!

Wondering how much loss of use insurance costs?

According to the article, additional living expense coverage is automatically included in your homeowners insurance for no extra charge unless otherwise specified.

This coverage is not broken out as a separate line item cost in your homeowners insurance policy or rate, so it’s difficult to determine what percentage of your premium goes toward loss of use coverage.

‘Typically, it accounts for 10% to 20% of your premium,” says Smith.

How much coverage should you get?

This is what Kimesha told Insurance.com:

“To be safe, your loss of use coverage should probably cover up to 12 months of basic, comparable living expenses.”

Lastly, when filing a loss of use coverage claim, be prepared to complete a form breaking down your normal monthly living expenses.

“You should submit these receipts and invoices as they accrue so that you can be reimbursed over time as long as needed and up to 12 months,” Smith says.

Read the full article here.

Every homeowner’s policy is different. To ensure you’re prepared for the next hurricane or major storm event, it’s critical for someone to review your policy who knows what to look for, so you can understand what you do and do not have coverage for. Contact us to get your FREE homeowners policy review from one of our experienced attorneys. Message us here

If you have experienced an insurance loss from a major storm, don’t be surprised if the insurance company’s first reaction is to claim that your damage is due to some pre-existing condition or assert that your claim is not covered under the terms of your policy or even cancel your policy based on recently-discovered “errors” in your application. But don’t worry.

At ILG, our experienced and aggressive attorneys in Florida take the time to analyze and interpret your policy and understand the full measure of damages available to you. We work with construction experts, restoration professionals and others to determine the facts.

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Insurance Litigation Group serves clients across the state of Florida. With over 7 offices statewide, our attorneys have the knowledge, skills and experience to resolve your dispute against the insurance company. 

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