Tag: residence

What happens to extra living expenses if the named insured wants to live separately after a fire?

After an insured loss, the insurance company pays for additional living expenses until the property is repaired to pre-loss condition.

Once settled into temporary residence, the couple decides to part ways.  The Insurance Company is not obligated to pay for two temporary residences. Their responsibility is to provide a normal standard of living, which at the time of the loss was a joint home.

Insureds can choose to split existing payment between two homes.  The insurance company has no obligation to pay on two residences.

Additional Living Expense Not Covered for New Standard of Living

 

How are Multi-family dwellings and vacancy handled with vandalism coverage?

Ever wonder how your property will be covered should vandalism occur?  What if you have a multi unit property and one unit is occupied and the others are not.  See answer below from Summit Business Systems, the leader in industry with how coverage applies.

QUESTION:

In a multi-family dwelling one unit was unoccupied & vacant for in excess of 60 days; the 2nd unit was vacated approximately 1 week before the loss. The vandals caused damage (vandalism/malicious mischief) to both units. Is the vandalism exclusion applicable to the 1st unit? Since the entire “building” was not vacant for in excess of 60 days- coverage should be applicable to all damages. Or, worded another way- if tenants were in the 2nd unit & vandalism damage was sustained in the 1st unit (vacant for in excess of 60 days) does the vacancy limitation apply?

ANSWER:

This is easier than it seems at first glance. The vandalism exclusion applies if the dwelling has been vacant for more than 60 days. The definition of residence premises states that the 2, 3, or 4 family dwelling where the named insured resides in one of the units is a residence premises. Therefore, even though the building is divided into separate living units, the entire structure is the dwelling. Therefore, since the entire dwelling wasn’t vacant, coverage applies for both units.

Rest assured that if at least one of your properties is inhabited, you are covered under the insurance policy.

AJR is the one Public Adjuster needed to assist with your coverages and make sure you are paid properly for your loss.  Give us a call 602-795-5227.  www.betterclaimresults.com