Oregon Farm Insurance – Does it cover me when my property is uninhabitable?

Farm Insurance – Coverage D- Loss of Use 

What does this mean and what does it cover? This blog series is dedicated to educating our clients and prospects on the different types of coverage options for Farm Insurance.

Today we are talking about Coverage D- Loss of Use. Loss of Use refers to your residence becoming uninhabitable due to a covered loss.  This coverage states that the insurer will reimburse you for the necessary increase in living expenses to maintain your normal standard of living during the time it takes to repair or replace any damage, or to permanently relocate. 

Also, this coverage provides for Fair Rental Value. Fair Rental Value will reimburse you for rent lost if the your residence is rented to a tenant. 

These payments, Fair Rental Value and Additional Living Expense will be paid for the shortest time possible that it takes to repair/replace damage or to permanently relocate.  There is no deductible for this coverage. 

If civil authority prevents access to your residence due to a covered loss that occurred on a neighboring property, the insurer will provide the above benefits to you for up to two weeks. 

We understand with all of these coverage choices, things can get confusing as to which is the best coverage options for your unique situation. At Ferranti-Graybeal, we have a team of experts that are ready to help you with all of your questions and to make sure you choose the right coverage for you! 

Give us a call today or contact us online! 541.567.5523

We look forward to the opportunity to help you with your insurance needs. You can trust us to protect what matters most to you!