If the insured property is the policyholders secondary residence and not held for rent, does the policyholder have the option of Additional Living Expenses or Fair Rental Value?
The policyholder is entitled to Additional Living Expenses only and the covered expenses should be limited to a reasonable amount in order to allow the insured to travel to check on the damaged property and/or the repairs of the property. Also covered would be consideration for planned and scheduled vacation.
Related Questions
- If the insured property is the policyholders secondary residence and not held for rent, does the policyholder have the option of Additional Living Expenses or Fair Rental Value?
- If my home is under construction and I am living on the land in a mobile home, can the property quaify as my primary residence (3% "Tax Cap")?
- Is property manager an additional insured?
