Everything you need to know about real estate insurance
RENT LOSS INSURANCE: WHAT IS LOSS IN RENTS? WHY DO I NEED LOSS OF RENTS COVERAGE? DOES RENT LOSS INSURANCE COVER ME IF I CANNOT RENT OUT AN APARTMENT OR IF A TENANT DOESN'T PAY THEIR RENT?
Loss of rents coverage, is only for the event that a space that was rented is now unable to be rented out, due to being damaged by a covered insurance loss/claim. For example fire, or flooding. The carrier will reimburse you during the period of repair until it is again in suitable condition for living.
Answered by: Joel Kivelevitz – Account executive of large business