Additional Living Expense (ALE), also known as Loss of Use coverage is something that all homeowners should have in Nashville, TN, where storms and hurricanes are a seasonal likelihood. This guide walks you through everything you need to know about ALE coverage, from what it covers to how to file, for property owners in the area.
Get what you are owed the next time a storm comes around. Hire Altieri Insurance Consultants Nashville for reliable public adjusters who are well-versed in ALE coverage near you.
An Introduction to ALE Coverage
In Nashville, TN, ALE coverage compensates for the additional costs incurred for living your everyday life in addition to those costs which were typical to your daily budget BEFORE the damage occurred to your home. As an example, additional costs for temporary housing rent during the claim adjustment period and the time it takes to make covered damage-related repairs are included because they are in addition to your monthly mortgage payment. Property owners with ALE coverage in their policy should bear in mind that this coverage is not intended for regular daily housing expenses, but rather the extra expenses you may pay above your usual housing expenses during this time of recovery.
Important note: Additional Living Expenses can become extremely expensive for a family displaced from their home very quickly. Knowing this, it is recommended to ask your insurer for an “Advance Payment” of several thousand dollars upfront to help defray those costs. Be sure to retain all receipts for presentation to the carrier. Allowing a professional public adjuster to manage the recording and direction of incurring these costs can be very beneficial as the claim progresses. Schedule a professional policy review today!
What Does ALE Insurance Cover?
Policyholders with ALE coverage in Nashville should understand exactly what is covered (and what is not covered) before making housing arrangements in response to storm damage.
ALE coverage in Nashville, TN, may include:
- Short-term house rentals
- Short-term apartment rentals
- Hotel or motel stays
- Moving services
- Temporary storage
- Pet boarding fees
- Gas or public transit if your routine travel to work, school or other are longer
| Keep in mind: ALE coverage may even apply to restaurant meals in situations where temporary housing does not include a means to cook. |
Policy Limits For ALE Coverage
1. ALE coverage is typically limited to 10-30% of your standard dwelling coverage cap.
2. ALE coverage often ends the day the home is considered fixed, or at the end of a standard 12-month period.
3. ALE coverage may not apply unless a home is officially deemed unlivable.
4. ALE coverage may require complete receipts and invoices before delivering compensation.
Is ALE Coverage a Requirement In Nashville, TN?
Not all expenses are covered by your policy, therefore be sure to receive authority in writing from your insurer before incurring any substantial cost. It is wise to ask permission first otherwise you may be denied coverage and enter into an unnecessary argument that could last months sticking you with the bill out of your own pocket. ALE coverage is highly recommended to be included in your policy with Tennessee being a high-risk state for storms and hurricanes.
Every storm that sweeps through Nashville has the potential to incur hefty fees associated with recovery. Oftentimes, these fees prove to be too substantial for the average homeowner to pay out of pocket.
Here are a couple of likely scenarios to consider:
A storm hits your neighborhood, and the only hotel available in the nearby area doesn’t include any amenities for cooking within your unit. Without an available kitchen, or even so much as a refrigerator or microwave in the room, your only choice is to order food elsewhere. The cost of seeking out a restaurant for every meal for countless weeks quickly adds up.
Your temporary housing after sustaining storm damage doesn’t allow pets. With no friends or family in the area to watch your dog, your only option becomes a pet boarding facility. Paying for pet boarding out of pocket can be a tremendous expense, leaving you with the dilemma of what to do with your furry companion.
Navigate Your ALE Coverage Like a Pro When You Hire Your Local Public Adjusters at Altieri Insurance Consultants Nashville!
Don’t let yourself get caught in a financial rut after a storm. Meet with your trusted public adjusters at Altieri Insurance Consultants Nashville to learn more about ALE coverage and how to prepare for the next disaster with professional pre-loss planning services. Call (813) 247-4757 to book an appointment!
