Insurance Coverage Q&A: Additional Living Expense or Fair Rental Value
An insured asks for Fair Rental Value and not Additional Living Expenses coverage after suffering a loss.
July 29, 2024 at 05:08 AM
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A homeowner suffered a fire to their home. They live in the desert.They want to rent a property away from the desert because of the summer heat until their home is repaired. If the price of the rental is within their Fair Rental Value of the damaged property, does it matter the distance or where they stay? This will place them closer to work.
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