What Is Fair Rental Value In Home Insurance?

1. 

   0 POINTS

   view profile
   dmrozek

   Ann Arbor, MI

   Fair Rental Value is the amount an insured would receive if they're renting the home, or part of a home, to a tenant and the home becomes uninhabitable because of a covered event.  This would be the rent you lose because the home cannot be lived in.  This includes all payments that continue while the home is uninhabitable.  This amount is included in the "Loss of Use" coverage on a home policy or lost rents on a dwelling policy.  It's there to ensure you don't lose money in the case of a covered claim.

   Answered on December 9, 2013

   flag this answer
Did you find these answers helpful?
Yes
No
Go!

Add Your Answer To This Question

You must be logged in to add your answer.