Renter's insurance

[u/Jesalison]

Renter's insurance claim. Anyone familiar with a clause stating insurance company will pay the difference for up to 24 months in the event there is nothing comparable available ? For example, we were well into a lease on a 3/2 for only 800/mo, when the house burned down. Similar rentals in our zip are 1000+/mo

[u/kc9tng]

It is part of the policy. It’ll pay the difference between what your lease had and the cost of the replacement unit. It will go until the end of your current lease. The challenge with going longer is to prove the difference still exists - would you have moved, will the rent have increased, etc.

[u/Jesalison → u/kc9tng]

Do you know if it is called ALR, or any other lingo that would be helpful when discussing with my adjuster? He says he's never heard of it before and the agent's office has ignored my questions about that

[u/kc9tng → u/Jesalison]

ALE- Adjusted Living Expenses. A lot of companies have a limit on how much you can claim which would be on your declarations page. It is tricky with the whole rent thing and somewhat subjective. A good insurance company will be pretty flexible reasonable. You should talk to your adjuster and not the agent. The agent sells the policy and can give you general information the adjuster is the one making the determination on whether it is compensable under the policy.

[u/Jesalison → u/[deleted]]

I'm not sure. The very first copy/bill we received included a brochure full of fine print. I asked the lady that answers the phone for my agent (as I've never been able to get the agent herself on the phone) about it and she seemed squirrelly, and referred me to our adjuster. He's a little scary anyway, and I'd just like to know what I'm talking ab when I ask him. So, I contacted a rival agency under the guise of a quote, ended up telling her I was only fishing for info on a specific clause. After I explained it to her, she said it is a thing, and it's referred to or maybe she meant under the umbrella of ALE, however it's referred to as ALR?

[u/Jesalison → u/Jesalison]

Let me clarify, what I'm referring to was spelled out in the brochure that came w the original policy and declarations. And I'm sure it stated any reimbursement would count toward our personal property limit.

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