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Reliant Blog

Additional Living Expenses (ALE) & Fair Rental Value – What is the difference?

10/22/2024

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What is the difference between Additional Living Expenses, more commonly referred to in our industry as ALE, and Fair Rental Value in an insurance policy?
 
With the recent Tornado damage in Wellington Florida and the trail of destruction left behind, many property owners have lost use of their homes and will need temporary living arrangements.
 
Additional Living Expenses (ALE)
ALE in a homeowner's insurance policy is coverage that helps pay for extra expenses a homeowner may incur if their home is uninhabitable due to a covered loss.
 
The loss can be from catastrophic damage as discussed above, or a fire or water damage event. This coverage helps maintain your standard of living while your home is being repaired or rebuilt.
 ​
Examples of Covered ALE Expenses
  • Temporary housing (such as a hotel or rental home)
  • Increased food costs (if you're unable to cook and have to dine out more)
  • Laundry services
  • Additional transportation costs if you're further from work or school
 
ALE coverage usually applies until your home is repaired and livable again. The coverage amount and duration are defined in your policy.
 
Fair Rental Value
Fair Rental Value in a homeowner's insurance policy refers to coverage that compensates a homeowner for lost rental income if a part of their home, which was rented to others, becomes uninhabitable due to a covered loss.
 
This coverage typically helps replace the income the homeowner would have received if the tenant could still occupy the rental space, even while repairs are being made. It does not cover utilities or other expenses that the tenant would have paid. The amount and duration of coverage are typically capped by the terms of the policy.
 
In the event you need help with an insurance claim, Reliant Insurance Adjusters is here for you. Our team has the knowledge and experience to handle all types of insurance claims and we are here to protect our clients’ best interests. 
 
Contact us  today if you have any questions or need any guidance with your insurance policy or insurance claim.

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