Loss of Use Coverage

Loss of Use CoverageLoss of use coverage can be one of the most important parts of your policy. In the event that the dwelling becomes unfit to live in a coverage called loss of use can be used. Loss of Use can be broken down into two parts, depending on the occupancy of the home.

Additional Living Expense - If the home is your primary home, then in the event of a claim you will probably have to move out and live in a hotel or rent an apartment for a period of time. You will probably eat out more than you would normally because you don't have a kitchen. Those expenses can add up quickly. Additional living expense can help with this additional cost. Now, before you get any great idea, there are limits and daily limits on this coverage. The idea is that insurance company helps maintain your standard of living, not elevate it. So if you don't stay at the Ritz Carlton today, its probably not going to be paid for by the insurance company.

Loss of Rent - If you rent out your home and there is a claim this coverage will actually pay the fair rental value (the rent you would have received) had it not been vacant because of a claim. For those that use the cash flow of the rental  as living expenses, this can be just as important as getting the home repaired.

While this coverage is often overlooked, it is extremely important, as time to fix a home always takes longer than expected, and if you don't have sufficient coverage you can be paying for it out of your pocket.

Gila Insurance Group LLC

805 W Court St. S
Safford, AZ 85546

Toll Free - (877) 784-6787
Local - (928) 428-6440
Fax - (888) 634-6384

About Gila Insurance Group

Customers choose Gila Insurance Group LLC as their insurance agent because they like being able to fill out one application online and then getting multiple quote from highly rated insurance companies. They like the friendly staff that takes the time to help them understand what they are purchasing. They like that the staff is trying to get the best coverage for them at an affordable price, and they LOVE that once they are customers Gila Insurance Group monitors their rates. If rates start to get out of hand they love that they have someone looking out for them to see if they can find a better option!

While Gila Insurance Group LLC serves Safford, Thatcher, Pima and all of Southern Arizona, they are also licensed in 32 states and serve clients from all over Arizona, California and this great Nation. Gila offers a variety of products including auto insurance, homeowners insurance, RV insurance, and business insurance. However, Gila has several specialties which include insuring investment properties such as rental properties, and fix and flip projects and Manufactured and Mobile homes.