I have an insurance claim to Farmers to repair water damage. They already paid loss of income for July. My contractor is rebuilding the kitchen where it was before the water damage and I expect the property to be habitable again by end of August. To find a new tenant though might take until end of September.
I was wondering if the insurance would pay loss of rent until I find a new tenant or until property is repaired? They've been paying so far however my broker evades sending me the rules and regulations of what is covered in my policy so I have to rely on my adjuster's opinion.
Yes, your loss of income should cover all the time it takes to repair and reasonable time to re-rent after repairs. You should ask the adjuster that handled your original claim, not your broker - they have nothing to do with it.
I went thru this exercise earlier this year.
You should have a copy of your coverage - they usually proved once a year or so. If you dont have one call Farmers - again not your broker and get a copy. They legally have to provide a copy to you.