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Rent for Alternative Accommodation in Home Insurance

Imagine returning home after a long day at work and finding your home uninhabitable due to an unforeseen disaster. In such moments of crisis, the often-overlooked hero raises Rent for Alternative Accommodation Cover in Home Insurance. Learn everything about this unsung protector, which provides a safety net when the unexpected strikes your prized possession.

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What is Rent for Alternative Accommodation Cover in Home Insurance?

Rent for Alternative Accommodation cover in home insurance policy provides financial assistance to homeowners who are temporarily displaced from their insured residence as they become unfit to reside there. Hence, this coverage gives homeowners a sense of security while their homes undergo repairs. Additionally, it ensures they have a roof under their head and maintain their living standard during the disruption.

Let's understand this with the help of an example:

Suppose your primary residence sustains significant damage from cyclone waves, making it uninhabitable until repairs are done. During this period, you need to find temporary accommodation. In such a case, rent-for-alternative accommodation covers and reimburses the rental expenses incurred to stay in the temporary apartment for a particular period.

Features of Rent for Alternative Accommodation Cover in Home Insurance

Here are some of the critical features of Rent for Alternative Accommodation coverage in home insurance:

  1. Comparable Accommodation
    The alternative accommodation covers properties similar to your home in size & amenities and should be located in the same city.
  2. Calculation of Rent
    To calculate the amount of Rent, the insurer will check the current market ongoing rent in your location and the period required to repair your primary residence.
  3. Coverage Duration
    The Rent for alternative accommodation offers coverage for the duration it takes to repair your damaged primary residence up to a pre-determined period given by the insurer from the day it was destroyed. However, in this case, you might also have to provide specific certificates to claim your damaged home is not fit to reside in.
  4. Claim Process
    To raise claims under Rent for alternative accommodation coverage, the physical damages caused to your home must first be accepted under the home building cover.

You may also read Loss of Rent Cover in Home Insurance

Why Do You Need Rent for Alternative Accommodation Cover?

Here are a few pointers which describe the need for Rent for alternative accommodation coverage in a home insurance policy:

  • Temporary Accommodation: If your home becomes damaged to the extent that it is not safe or possible to live in, you will have to find another temporary place to stay until it is repaired. In such a case, the Rent for Alternative Accommodation cover covers renting another place to live while your home is being repaired or rebuilt.
  • Maintaining Normalcy: Moving from a permanent place can be incredibly disruptive. This additional coverage ensures that you and your family can live relatively generally during this challenging time, as it covers the Rent for a new place.
  • Financial Protection: Residing in a rental space can be costly, especially for an extended period. This coverage helps mitigate the financial burden and covers the expenses associated with temporary accommodation. It may include Rent, utilities, and sometimes even food and transportation costs.
  • Peace of Mind: Knowing you have adequate coverage brings peace of mind in an unforeseen event. Moreover, this helps you focus on dealing with damages caused to your insured house without worrying about where you'll live in the meantime.

Final Words!

Ultimately, rent-for-alternative accommodation cover is a valuable component of a home insurance policy, protecting you financially and giving you peace of mind during a crisis when your home is uninhabitable.

Written By: PolicyBazaar - Updated: 16 May 2024
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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Reviews & Ratings

4.4 / 5 (Based on 120 Reviews)
(Showing Newest 10 reviews)
Bokaro, July 26, 2022
Coverage for natural calamity
I was looking for an insurance policy that provides me coverage for natural calamity. Since my house is located near a river and it floods my area in the rainy season. So i went on the Policybazaar website and particularly look for this coverage found the exact plan that provides this coverage.
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Premium Calculation
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Natural Calamity cover
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Ajmer, July 26, 2022
Qiuck claim
I purchased a home insurance policy recently. However, due to a natural calamity, my house was damaged as the pressure of the water because of flood broke the enterance door of my house. But the insurance plan that i bought got me covered and i as able to get the quickest claim possible.
Delhi, July 26, 2022
Natural calamities covered
I bought a home insurance policy recently. As i live near a river and in the rainy season, my area gets flooded so in order to protect my house and its contents, i purchased the insurance to get coverage for such natual calamities and i am tension free now.
Kolkata, July 26, 2022
Wide coverage
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Ahmedabad, July 26, 2022
Suitable insurance plan
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Amritsar, June 09, 2022
Natural calamities covered
I bought a home insurance policy recently. As i live near a river and in the rainy season, my area gets flooded so in order to protect my house and its contents, i purchased the insurance to get coverage for such natual calamities and i am tension-free now.
  • Disclaimers+

    #Savings of 28% are based on the comparison between the highest and lowest premiums for a pucca building with sum insured of >₹ 1 crore at Delhi, for property age less than 5 years and policy term of 11 years.