Insurance

What is Loss of Use?

Loss of Use

[los / uhv / yoos]

noun

1.

Loss of Use coverage can help if a policyholder loses the use of their home because of a covered event. For example, if dining out becomes necessary due to an unusable kitchen, Loss of Use coverage typically means the “difference” from normal expenditures will be covered.

Have A Question About This Topic?

Thank you! Oops!
 

Related Content

Did You Know This Fact About Damaged Property?

Did You Know This Fact About Damaged Property?

Damaged property during the claims process shouldn't be thrown away.

The Five Basics of Financial Literacy

The Five Basics of Financial Literacy

How literate are you when it comes to your finances? Brush up with these five basics.

Immediate vs. Deferred Annuities

Immediate vs. Deferred Annuities

Looking forward to retirement? It's critical to understand the difference between immediate and deferred annuities.