Understanding Additional Living Expense (ALE)

Upon experiencing a covered loss to your home that renders it uninhabitable, your homeowner policy provides for the temporary increase in living expenses.  

ALE pays for reasonable costs for temporary living facilities, moving, furniture, appliance rentals, and meals out as needed. It pays almost any living expense that is truly additional. ALE pays for any expense that you would not have if your home hadn’t been damaged.  

Any amounts paid under this coverage are offset against living expenses that are lower, such as heating and cooling in your vacant house which is substantially cheaper during the period of absence.

Reichley Insurance Agency is committed to excellence. We pride ourselves on offering our clients reliable coverage and great service. As an independent Ohio insurance agency, we can provide you with all types of insurance coverage from the top carriers in the country. Our team of trusted agents will work with you to find a policy that meets your needs – and falls within your budget.

 

Our dedication makes the difference...

    

 

 

Toll Free: 87-REICHLEY (877-342-4539)

Email: info@reichleyins.com

 

The information in this article is meant as a guideline only. There is nothing in this publication that alters the coverage or interpretation of any specific policy. Because some statements are generalizations, and because different companies’ policies contain slight differences, please refer to your specific policy. Call our office before making any judgments or decisions concerning your particular situation and coverage that may or may not apply.

When Is Your Auto Covered by Your Homeowner Policy?

  Most people would say never, and they would be right, with one little exception.  For obvious reasons, the homeowner policy was never meant to insure vehicles.  It would seem that this concept is pretty simple, but there are times when you are dealing with parts or pieces of the vehicles.  When the snow tires are removed from the vehicle, do they still fall into the definition of vehicle?

Upon reviewing the homeowner policy, we see that while there is clearly no intention on the insurer’s part to cover your vehicle for property or liability coverage, insurers have thought of everything.  They recognize that not all things fit into a tidy little package.  What if you are restoring a classic car?  This labor of love has already taken you two years with no end in sight.  The interior is lying in one corner of your garage and you just installed fancy new wheels and tires.  You haven’t considered insurance on this vehicle because of its state of deconstruction, and you felt that since you didn’t drive this vehicle, and it was simply stored in your garage, that you should have coverage.

After you have a fire in your garage, you are surprised when your adjuster tells you that the car’s interior stored in the garage is covered, but those new wheels and tires you just installed and the vehicle itself are not covered.  The homeowner policy excludes vehicles, including their equipment or their parts, while in or upon the vehicle or conveyance.  Since the car’s interior was not in or on the vehicle, there was coverage for those parts of the car. 

Every insurance policy is unique.  If you have questions about your insurance coverage, contact us today.  Our experts will help you understand exactly what is and isn't covered by your policy. 

Reichley Insurance Agency is committed to excellence. We pride ourselves on offering our clients reliable coverage and great service. As an independent Ohio insurance agency, we can provide you with all types of insurance coverage from the top carriers in the country. Our team of trusted agents will work with you to find a policy that meets your needs – and falls within your budget.

 

Our dedication makes the difference...

    

 

 

Toll Free: 87-REICHLEY (877-342-4539)

Email: info@reichleyins.com

 

The information in this article is meant as a guideline only. There is nothing in this publication that alters the coverage or interpretation of any specific policy. Because some statements are generalizations, and because different companies’ policies contain slight differences, please refer to your specific policy. Call our office before making any judgments or decisions concerning your particular situation and coverage that may or may not apply.

 

Homeowners / Renters: Keep Warm, but Also Safe

 Cold weather brings with it many fire safety hazards, including fireplaces, space heaters, and decorative holiday candles, just to name a few.  Keep your home and loved ones warm, but also safe, with this checklist from the Home Safety Council:
Smoke Alarms

• Have you installed smoke alarms on every level of your home and near every sleeping area?
• Do you test your smoke alarms once a month to make sure they are working, and replace the batteries every year?
• Do you replace smoke alarms that are 10 years or older? 

Fire Escape Plans

• Have you identified two exits for every room?
• Does your family have a designated meeting place outside?
• Does your family practice a fire escape plan twice a year?
• Is every family member familiar with your fire escape plan?

Fire Prevention

• Do you keep things that burn away from your fireplace?
• Do you have a glass or metal screen in front of your fireplace?
• Do you have space heaters, chimneys, fireplaces, wood and coal stoves, and furnaces inspected once a year and cleaned regularly?
• Do you keep space heaters at least three feet from combustibles, such as curtains or newspapers?
• Do you stay in the kitchen when food is cooking on the stove?
• Do you keep an eye on burning candles?
• Do you keep candles out of the reach of children and pets?
• Are you careful not to overload outlets, extension cords, and power strips?

Source: Western Reserve Group Newsletter, November 2010

Here's another informative article from Western Reserve Group: Fire Safety for Supplemental Heat

Reichley Insurance Agency is committed to excellence. We pride ourselves on offering our clients reliable coverage and great service. As an independent Ohio insurance agency, we can provide you with all types of insurance coverage from the top carriers in the country. Our team of trusted agents will work with you to find a policy that meets your needs – and falls within your budget.

 

Our dedication makes the difference...  

    

   

Toll Free: 87-REICHLEY (877-342-4539)  

Email: info@reichleyins.com  

The information in this article is meant as a guideline only. There is nothing in this publication that alters the coverage or interpretation of any specific policy. Because some statements are generalizations, and because different companies’ policies contain slight differences, please refer to your specific policy. Call our office before making any judgments or decisions concerning your particular situation and coverage that may or may not apply.

Peak Season Inventory: The Solution

 Businesses with inventories that fluctuate significantly over the course of a year present an interesting challenge. In many cases a business will experience large peaks in inventory at specific intervals during the year. Some small package policies, such as the Businessowner Policy, or BOP, automatically provide peak inventory coverage, but with some caveats. This unique coverage feature, sometimes found in these smaller package policies, applies only when the chosen business personal property limit is equal to at least 100% of the actual average monthly business personal property values, determined at the time of loss. Also, even if the chosen property limit carried is equal to 100% of the actual average personal property amount, the automatic increase, usually 25% of the chosen business personal property limit, may not be adequate to cover the increase in inventory. There is no extra charge for this coverage and generally the inventories are fairly level for the types of businesses that qualify for these small package policies.

For businesses with inventories that fluctuate significantly, there is an endorsement that will provide an increase in the property limit during the specific intervals chosen. This allows the business to take advantage of paying lower premiums for most of the year, yet having the assurance during those peak intervals that the business will have enough coverage. This approach is a practical solution for the business with predictable inventory increases at specific times. The policyholder determines the amount of limit increase and the interval for which it applies. This can include multiple peak intervals and different peak inventory levels. It can be difficult in some cases to determine when these peak intervals occur, so the policyholder should be certain to include an adequate number of days both before and after the peak interval.  Contact us with any questions or concerns - we're here for you.


Reichley Insurance Agency is committed to excellence. We pride ourselves on offering our clients reliable coverage and great service. As an independent Ohio insurance agency, we can provide you with all types of insurance coverage from the top carriers in the country. Our team of trusted agents will work with you to find a policy that meets your needs – and falls within your budget.

 

Our dedication makes the difference...

   

Toll Free: 87-REICHLEY (877-342-4539)

Email: info@reichleyins.com

 

The information in this article is meant as a guideline only. There is nothing in this publication that alters the coverage or interpretation of any specific policy. Because some statements are generalizations, and because different companies’ policies contain slight differences, please refer to your specific policy. Call our office before making any judgments or decisions concerning your particular situation and coverage that may or may not apply.