You need to know this information both before and after you are living outside of your home due to damage or repairs. Understanding alternate living expenses and what, exactly, should be covered under your insurance policy is extremely important. Just be ready to prove your normal standard of living. Or, for example, if you regularly eat steak dinners at home, you may be expected to eat steak dinners at restaurants during your home repairs. On the other hand, if your pool was damaged, the expense of going to a community pool may be covered.
This means that you can’t eat at fancy restaurants three times a day and expect to get reimbursed. Many policies state that additional living expenses are covered as long as they maintain and do not exceed your normal standard of living. What does “maintain your standard of living” mean? Another example: if you spend $30 on laundry at your home and $70 taking it to the laundromat during home repairs, you may be owed $50. For example, if you spend $20 to commute to work from your home and $100 to commute to work from your temporary housing, you may be owed $80. What does “above your normal expenses” mean?Īlternate living expenses covers the difference between your normal expenses and your expenses when you cannot live in your home. In other words, most costs that are higher than the ones you usually have while your home is damaged or being repaired may be due back to you by the insurance company.
While insurance policies differ, alternate living expenses generally cover the cost of food, housing, childcare, and commuting, above your normal expenses. But what many people do not know is that your insurance policy also probably covers additional expenses beyond those required to fix your house. When your home is damaged, you expect that your homeowners insurance will cover the cost of repairs as stated in your policy.
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