Additional Living Expense Loss
Definition of "Additional living expense loss"
Same as term: Additional Living Expense Insurance: coverage under a Homeowners, Condominium, and Renters policy, that reimburses costs of residing in a temporary location until the insured's home can be made whole again. It usually provides living expenses of from 10-20% of the structural coverage on the home.
Popular Insurance Terms
Same as term: generally accepted accounting principles (GAAP): ...
National agency supported by property insurance companies. The bureau is used by companies that do not have their own claims adjusters. ...
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Collection of numbers to record and analyze data such as occurrences of events and particular characteristics. Statistics are absolutely vital to all elements of insurance. In life and ...
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Cost of replacing damaged or destroyed property with comparable new property, minus depreciation and obsolescence. For example, a 10-year-old living room sofa will not be replaced at ...
Nominal interest rate minus the rate of inflation. ...
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