What Does Loss of Use Mean?
Posted: 10/26/2009
Loss of use refers to a provision included in renters insurance and homeowners insurance that is designed to reimburse the insured for any additional living cost that are due to the policyholder having to live elsewhere during the restoration of your home after a disaster.
Another definition of loss of use is the inability of the insured to use equipment, premises, or a vehicle due to damage caused by neglect or wrongdoing of others.
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