If you are involved in an accident and your car is damaged, loss of use coverage pays for a rental car or alternate transportation while your automobile is being repaired.
the inconvenience caused to an individual for the inability to use property.
Coverage that insures against the inability to make use of an insured structure because of damage sustained by an insured peril. (See also, Additional Living Expenses.)
This coverage provides a rental car (subject to policy limits) while your vehicle is being repaired after being involved in an accident.
A provision generally found in homeowners and renters insurance policies that reimburses policyholders for extra living expenses that occur when a policyholder has to live elsewhere while their home is being restored.
See Additional Living Expense.
Insurance protection against loss due to the inability to use property because of its damage or destruction.
Loss-of-use insurance protects against losses incurred while you are unable to use your property. It includes additional living expense, business interruption and rental reimbursement.
Type of coverage provided by some automobile policies which provides an insured with a rental vehicle when theirs has been placed out of commission by an insured peril.
Loss of use refers to the loss an insured incurs as a result of not being able to use his property. Homeowners and auto policies generally provide coverage for certain types of loss of use such as additional living expenses and rental car expenses. To learn more, explore our Masterpiece® Advantages for Homeowners and Automobiles.
Compensation made to an insured against loss resulting from the inability to use property, such as an aircraft in furtherance of his business.
Often occurs in auto claims and refers to expenses incurred as a result of temporarily leasing a substitute vehicle following an accident.
In the event you could not live in your home after an insured peril occurs, the homeowners policy offers payment of temporary living quarters while you are waiting for repair work to be completed. You would also have additional expenses such as food and laundry paid for as well.
A provision in homeowners and renters insurance policies that reimburses policyholders for any extra living expenses due to having to live elsewhere while their home is being restored following a disaster.